At nearly $400 monthly, Arkansas has some of the highest HOA fees in the country. Being active in HOA meetings is essential to keeping costs down and learning what's happening in your homeowner's association. HOA board meetings should be on your agenda to ensure your community is a great place to live.
Three things to discuss at a homeowners association board meeting include the financial report, upcoming projects, and maintenance issues. Getting these items on the HOA meeting agenda is integral to the process.
You should discuss three things at HOA meetings in Rogers, Arkansas.
1. Financial Report
Asking to see the financial report is imperative to knowing how HOA meetings are conducted and how the HOA community is run. This report includes accounts payable, cash flow, and general ledger.
A financial report gives insight into the amount of money collected by the HOA board through dues. It also tells you who's not paying promptly.
You'll also learn about vendor contracts, such as landscapers, pool maintenance companies, and trash pickup. A financial report dives deep into how much your HOA community pays each vendor.
The financial report should be a key part of your HOA meeting agenda.
2. Upcoming Projects
What - if any - upcoming projects are part of your HOA? Meetings offer insight into plans, drawings, photos, and details of projects. You'll gain information about common areas, roadways, workout facilities, roofing, and siding updates.
Members can ask for details about how much the HOA plans to spend on each project and how community association management will oversee the details.
You can learn if vendors have the proper insurance or necessary skills.
Furthermore, if you oppose a project or certain portions of the plans, it's your chance to voice your opinion. You might have the potential to stop or change the plans.
Projects could have an impact on your home value. National statistics show HOA home values are more than $9 trillion. It's essential to protect your investment.
3. Maintenance Issues
Community association management must deal with a wide variety of maintenance issues, such as water issues, siding, roofing, and even downed trees.
Meetings are an excellent chance to discover how the board plans to handle each project. You'll get answers on when you can expect repairs.
Moreover, you can learn about updates to sewers or air-conditioning. You can also learn who is responsible for picking up the tab when something breaks.
Meetings provide the opportunity to find out which vendors will do the work and if they are reputable.
Three Things to Discuss at HOA Meetings
Three things to discuss at HOA meetings include the financial report, upcoming projects, and maintenance issues. Getting answers is essential to ensuring your HOA is a great place to live.
Meetings mean a time commitment; however, it's worth it!
Allow us to show you how professional community management can improve the HOA you live in. Our skilled team knows the best way to run an HOA and get the pricing on vendors, supplies, and materials.
Please schedule an appointment with us today!
