Who Watches Over Your Investments?
Your first answer might be, “well, I do”.
In answering this question, you might also say, I have a financial planner, or a company that advises me on my investments, or a realtor who helps me with real property. But in fact, if you live in an HOA managed community, you have an HOA Board of Directors who make decisions about that community and those decisions can highly affect the quality of the community including the value of your personal property. Your home may be your largest investment. So, I ask, how often do you attend HOA Meetings? Sometimes it seems like you are too busy or just not interested in “all of that drama”, but where else concerning your personal business and investments would you pay less attention?
Sometimes HOA Boards do have drama and many times it’s because the homeowners are not familiar with the covenants and guidelines of the community. Let’s face it, they don’t teach HOA 101 in school, but we’re all here to help educate and communicate. As a homeowner, please go back and read the documents you signed when you purchased your home. The covenants were in place and you want to know what your property rights are. Your HOA is a quasi-government management organization of your community. Many times, the homeowners elected to the Board of Directors are not professionals in the HOA industry. Or maybe they want to be distanced from collection of monies, so they hire an HOA Management Company to implement the decisions they (the Board) make to protect your property values.
Please attend your HOA meetings and hear the facts for yourself. As a part of your community and to protect your own property it’s important to do. Just as important, read all mail or emails that come from your HOA Board or HOA Management Company, so you are informed. Many times, if you don’t hear the details for yourself from your Board, you will hear a “rumored” version from someone else. And of course, those rumors grow like wildfire. If your Board is not able to communicate the major changes taking place in your community, maybe you and someone else can help with the appropriate communication. If you want to run for the Board, most elections are held at the end of the year. If you don’t want to actually serve as a Board member, there are many committee positions available where your expertise and skills can be very helpful.
Most importantly, watch over your investment and know the facts!
If you have questions, ask your Board of Directors, or go to your community portal.
Exclusive Association Management, Inc. 770-949-5663 Putting the “unity” in community!™