Welcome to our blog series, The Five Keys to Effective Association Management.
We took the five biggest issues or questions we heard from our boards that weren’t addressed by their previous HOA property management companies. If you’re on an association board, you can use these tips to help manage an HOA in Nashville.
The first key is effective communication. There are two primary areas where communication is most important. First, there is communication between the board and the homeowners. Second, there must be communication between the management company and the board.
Homeowners Association Management: Communication between Boards and Homeowners
Almost all of the complaints from HOA members can be avoided with effective communication. Without it, homeowners will only know what they hear and experience or, worse yet, what they hear from other people. Keeping homeowners updated on what’s going on will end rumors and help homeowners see the bigger picture. So often, we see Google reviews where members complain about cosmetic issues while the HOA is struggling to keep out of bankruptcy because of plumbing or structural issues. Taking the time to inform owners about what’s going on won’t necessarily make everyone happy, but they will have a much better understanding of the bigger picture.
Managing an HOA in Nashville: Communication between Managers and Boards
It’s important for HOA managers to keep in regular contact with the board. Frequent complaints from board members who hire us is that previous companies did not keep the board informed about what was going on and problems that were growing. Sometimes, this is a simple oversight on the part of the manager. Unfortunately, it can also be due to managers not following through with work that was supposed to be done or inspections that were never completed.
At Apex Ventures, we keep in regular contact with the HOA board members about the condition of their property and their financial reports. We also serve as a coach or mentor so boards can benefit from our many years of experience.
Effective communication is important, but it’s only one key to successfully managing an HOA. Be sure to check out our next part of the series, when we talk about the advantages of an active and educated board of directors.
If you would like or more information about how we manage an HOA in Nashville, please contact us at Apex Ventures.