As 2020 comes to a close, homeowners associations are busy planning for 2021. This year has brought its share of challenges, but they can actually help the HOA be more prepared for the future. As the board wraps up loose ends, here are a few things to keep in mind when planning for the upcoming year.
Look at what has (and hasn’t) worked.
Many HOAs were forced to adjust how they operated this year in the face of COVID-19. This may have meant tightening the budget, engaging in virtual meetings, setting up online payment systems, or altering how members accessed amenities. Some of these changes may have been really positive for the association. Decide what processes and procedures will stick, and which ones will slowly be transitioned away from.
Make improvements and set goals.
Refine some of the changes implemented over the past year to make them even more effective. Now that the board and members are comfortable with virtual meetings, start comparing options when it comes to various platforms to see if a different one might be a better fit or have more useful features for your community. Also set new goals for things the board wants to achieve and build on previous accomplishments.
Set the budget.
Having a new budget in place is essential so that spending can be controlled right from the start. Carefully review financials as well as current vendor contracts to see where there are areas for improvement. Are assessments stable as they are, or do they need to increase to better meet anticipated costs? Be transparent and keep homeowners informed when it comes to any changes in finances and how it will impact them.
Map out the upcoming year.
Get a calendar and start planning out upcoming meetings, events, due dates, and projects. This can help the board to stay organized and on track. Continue to update the calendar throughout the new year so there is always a central point of reference. The board may want to post the calendar on its internal community website for members to view as well so they know what is coming up.
Get professional help.
Has the HOA been struggling to keep up with all of its responsibilities? Have questions crept up that are harder to answer? Is communication with members starting to lag? Partnering with a property management group like Kuester can help associations stay on top of day-to-day activities and allow the board to focus on more pressing issues. Plus, a community manager can serve as an incredible resource to help guide the HOA, answer questions, and ensure compliance with governing documents.
The board doesn’t have to tackle everything on its own. Start the new year on a positive note by teaming up with Kuester to support HOA operations. Contact us today to learn more about the wide range of services available.
