Each one of the 2 million HOAs in Texas has an HOA board at its helm. These elected members provide $251.9 million of services to their HOA residents annually.
Their efforts contribute to the high value of homes in these HOAs and ensure high satisfaction levels among residents. Most HOA boards comprise a president, vice president, treasurer, secretary, and additional general members.
Read on for a breakdown of basic HOA board duties in Austin, Texas.
Common Area Maintenance
An HOA's common areas are a major drawcard for home buyers and contribute to the high value of HOA homes. HOA responsibilities include taking care of these amenities so they're always available for residents' enjoyment.
The HOA board must oversee the maintenance and repairs of these common areas. This involves coordinating vendors and arranging payment for services rendered.
Enforcing HOA Rules
Every HOA operates according to a set of CCs and Rs. These regulations preserve the community's architectural integrity and ensure fair use of its amenities.
Residents who violate the rules can be fined and ultimately have an HOA lien placed on their homes if they don't settle these fines promptly. HOA board functions include enforcing these rules impartially and overseeing fine payments.
Clear communications are a key aspect of rule enforcement and preserving community harmony.
Financial Planning
An HOA needs astute financial management to function effectively, and setting up an annual budget is one of the primary HOA board roles. This includes calculating the annual operating cost for the community and setting up a fund for emergency repairs.
The budget determines each homeowner's contribution toward these operating costs, i.e., their HOA fees. At times, the HOA may need to implement an additional charge for major repairs affecting the community.
Homeowners must pay their HOA fees on time every month, along with any fines owed, or the HOA could foreclose on their property.
Maintaining Legal Compliance
One of the most important HOA Board roles is ensuring the association complies with the basic laws affecting property associations. These rules may apply to budgeting, the use of common areas, and building constraints.
An HOA cannot implement rules that violate state laws, such as denying access to service animals.
Additionally, HOAs must comply with tax laws affecting their income and expenditures. Working with an experienced tax attorney is essential for accurate reporting.
Maximize the Efficiency of Your HOA Board
HOA board members are volunteers, so they don't always have the specialized skills to perform all their roles.
Hiring a community manager is the best way to overcome this issue. These professionals provide ongoing HOA guidelines and access to the expert skills you need.
PMI Heart of Texas is a full-service real estate asset management company. Our services include commercial, residential, and HOA property management solutions.
We are a locally owned and operated company backed by a growing international franchise. Our qualified, experienced team is committed to helping you thrive in the Austin real estate industry.
Find out how we can help your HOA board take things to the next level.
