Setting goals for the new year is a great way for HOA management teams to create a better community.
HOA management can be a complex issue, especially if you have a large community to manage. This is why setting goals for the new year benefits managers and the community in general.
New Year’s Resolutions for Your HOA
As 2023 approaches, let’s take a look at some of the resolutions your HOA should consider and how a property management team like Goodwin & Company can help you meet your goals.
1. Review and Update Governing Documents
As a community grows and changes, the initial charter of the HOA may no longer apply. It is essential to update and change your governing documents to meet the current needs of your community.
Most changes to the by-laws and associated governing documents will require a vote by the board and notice posted to the community. Be prepared for some homeowners to object to these changes, even if they benefit the entire community. However, if it will make your community a better place, it is worth the effort.
If you’re concerned about the legalities or long-term ramifications of your updates, your HOA management team has experience with ordinance changes and can help you make the best decisions for your association.
2. Review the Budget
The beginning of the year is the perfect time to review the budget. See how this years budget compares with the actual costs of repairs, events, and management from the year before.
The start of a new year is the perfect time to make all of your adjustments to be better prepared for the coming year.
3. Set Goals for the Year
If there are goals your HOA management team wishes to accomplish in the new year, it is time to set the goals and lay out the plans to achieve them. Planning out annual projects, budgeting, and hiring the right vendors for the job takes time.
On top of that, you must get approval from the board or the community and schedule your meetings to discuss goals.
Starting this process early in the year can help you attain your goals without the stress of hoping much-needed plans successfully come to fruition.
4. Increase Community Communication and Participation
One of the hardest parts of managing a community is getting people to understand why things are happening. If you interact more with the community, you can discover what the community wants and help them understand the goals of the HOA.
This year, set a goal to interact more with the community’s residents. Community participation will greatly enhance the standard of living in your community because people will feel involved. Whether this is through an online portal or by planning more events within the community, making the extra effort can help improve communication with your owners.
Additionally, board members’ jobs become much easier when communication is clear and more people actively try to keep up the community’s standards.
5. Enhance Educational Opportunities for Board Members
There are many ways that you can help your board members learn more about operating an HOA. Conferences, classes, working with other communities or working with a management company like Goodwin & Company to discover the best ways for board members to manage.
Not every board member will come with all of the experience they want to be effective in their position.
You want your Board’s volunteers to have the best opportunities and experiences while serving the community. Work with your management team to organize educational events and outings for your board members.
Complete Your Association Resolutions With Goodwin & Company
If your board members seek ways to improve their board’s efficacy and their community’s lifestyle, you are encouraged to work with Goodwin & Company. Goodwin & Company is a professional management firm that helps HOA Board members discover their full potential.
Homeowners want to live in communities with an HOA because it ensures they live a certain lifestyle. Giving your community the best HOA management helps make that lifestyle a reality.
Make your association the best it can be in 2023. Contact Goodwin & Company today to learn more about our services.