When the topic of developing a plan for your HOA comes up during your next board meeting, it may not be well received by members. Some may feel a true plan isn’t necessary and they’re happy flying by the seat of their pants. Don’t believe it – failing to plan is in effect, planning to fail. Having a strategy regarding your goals, projects and financials is essential to building a successful community.
While some HOA boards may be tempted to put off taking action regarding particular issues, opting to shelf those concerns does nothing but make them an even bigger challenge. Planning will allow and HOA’s board to:
- Function consistently
- Be proactive in scheduling projects
- Schedule and anticipate recurring tasks
Realistic planning requires an honest assessment of the HOA’s current situation. Part of that evaluation means asking the following questions:
- What are your HOA’s recorded documents and what do they say?
- What is the financial condition of your HOA?
- What is important to your community’s property owners?
- What resources, i.e., staff and volunteers, are available to the HOA?
- Have you identified a list of priorities, ideas and projects?
- Have you allocated resources and prioritized projects accordingly?
Finally, the plan must be implemented and monitored; otherwise it will have no value. Developing a plan and then putting it on the backburner wastes everyone’s time and ultimately results in disappointment as expectations aren’t met.
If your HOA needs assistance with planning, Wise Property Solutions can offer helpful tips, guides, and other resources to aid throughout the process. Visit us at wisepropertysolutions.com.
Wise Property Solutions is East Tennessee’s only Accredited Association Management Company (AAMC®). As the region’s leader in community association management, the firm is committed to the industry’s best practices and continuing professional development. Wise Property Solutions’ certified and highly trained property managers empower well-organized and efficient communities. The firm maintains offices in both Knoxville and the Tri-Cities.
Tri-Cities, TN-VA: 423-926-7373