Homes in community associations across the United States total $7.199 trillion in value.
With a number like that comes a lot of responsibility on the shoulders of HOA board members. These leaders make important decisions for the communities they represent.
Are you considering volunteering for your association board or are you just curious about what the members of the board do?
Either way, keep reading to learn about the several roles and responsibilities of HOA board members.
Electing Board Members
Board members are elected by members of the community at the HOA annual meeting. The HOA should communicate by email, text, or through the community website so residents know when the election is taking place.
For the vote to be valid, they have to reach a quorum. A quorum is the minimum number of votes necessary, hence the importance of communication.
The vote does not have to take place in person at the HOA meeting. It can be done through email or online if your state allows it. It can also be done through proxy with a homeowner choosing someone to represent them.
President
This role requires a large commitment. The president guides the board in the daily functions related to the community.
The president is the main contact between vendors and contractors. He or she runs the HOA meetings and manages the agenda.
The person filling this role assigns committees and announces vote results, signs documents, and mediates conflicts.
Good communication skills are a key attribute of an HOA president. The president has to be well-versed in the community bylaws and regulations.
A strong president keeps the HOA functioning well which in turn helps keep home values at a premium.
Vice President
The vice president works closely with the president and has to be ready to fill the role of president when necessary.
Just like the president, the VP needs to have knowledge relating to the bylaws of the governing documents.
The VP will also take the lead on certain projects and areas of the HOA operations.
Secretary
The HOA secretary is in charge of documentation and record-keeping for the association. Responsibilities include staying compliant with all legal requirements and submitting forms on time.
Treasurer
The role of the Treasurer is important for the financial part of the association. The Treasurer prepares the annual budget, keeps financial records, consults with the accountant, and oversees taxes and insurance.
Member-at-Large
The member-at-large goes to meetings and acts as a liaison between community members and the board.
They work with committees and help new members transition into their roles.
Key to an Effective HOA Board
The HOA board is the top dog when it comes to handling all aspects of carrying out HOA services in the community. It's critical to understand these roles to be effective at managing the board's responsibilities.
Would your HOA board members benefit from the assistance of a management company? The team at PMI Suburban Properties has residential management experience with single-family homes, condos, townhomes, and multi-unit structures in the greater Chicagoland area.
Schedule a consultation by contacting us via our website or by calling 847.305.2559 for more information about our services.
