Although we live in a world where money is worshiped and idolized, many people don’t like to actually spend their money. Especially when hard earned money goes towards homeowners association dues. But HOAs have to get get funded somehow, just like any other organization, members are the ones funding. Homeowners associations ultimately help maintain the community’s property values and keep it running smoothly. With that being said, it is necessary for members within the association to pay for the quality of their community.
Luckily, there are options that can prevent assessments from being unbearable. Some would argue that keeping assessments from increasing is one of the most important things an HOA board and its members can hope to do. The monthly dues that is collected normally pays for common area landscaping, clubhouse upkeep, and other association expenses. As long as the Board of Directors keep adequate reserve funds collected and other expenses budgeted, money should not be an issue. It is truly up to the Board to keep assessments from escalating.
There are many different ways for an HOA board to keep association fees from increasing. First, the board should make sure all fees are being paid by every homeowner. They should also track where and when the money is being spent. The board should make sure everyone in the community is taking care of their home and other common areas within the association. Someone should be designated to monitor these things so the community preserves its value and makes others want to join. It is also important to take care of small issues immediately before they rise to a bigger concern resulting in excess resources being spent by the association.
The best way to improve your community’s property values and for its members to feel a sense of community, is to make sure every member of the community is pitching in. It is also important that the owners are involved and enjoying community events and activities.
In many situations, the Board of Directors often cannot handle everything that is thrown their way and still maintain association fees. This is why HOA Management companies were created. At Cedar Management Group, we assure every homeowner and association we manage will be taken care of in a personal and professional manner. We pride ourselves on actively communicating with our clients to ensure their needs are met. Contact us today and start the relationship that lasts a lifetime.