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February 10, 2012

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Local Market Conditions




Homeowner Association Doctoring
An application for REALTORS®

Any community can become depressed, listless and out of sorts. Good health is often only a prescription away. Here are some that can improve the overall health and happiness of your community.

Communication Prescriptions

  • Publish and distribute a newsletter at least four times a year.
  • Include resident events (births, graduations, etc.) in the newsletter
  • Develop an Internet web site and include budgets, governing documents, names, phone numbers and other need-to-know items. Link your web site to other community association web sites and resources.
  • Distribute questionnaires to residents and publish the results.
  • Publish a community calendar well in advance of the events.
  • Introduce new residents at board meetings and profile them in the newsletter
  • Use signs discreetly within your community
  • Design rules and signage in a positive manner

Community Prescriptions

  • Develop an active committee structure to support the Board of Directors
  • Develop a mission statement for your community
  • Send your newsletter to local political leaders
  • Encourage local business to advertise in your newsletter
  • Encourage voter registration by residents of the community
  • Establish a forum for local political leaders to meet with residents of your community
  • Take an active position on local community issues
  • Hold an annual community garage sale
  • Establish a community library with donated books
  • Assist residents in locating babysitters from within the community
  • Sponsor a neighborhood cleanup day
  • Sponsor a community aerobics class

Management Prescriptions

  • Limit board meetings to 2 hours and make real decisions.
  • Distribute meeting agendas in advance
  • Provide for a Homeowner Forum before each board meeting
  • Track director and owner attendance at meetings
  • Enact only rules and regulations that are practical, clear and enforceable
  • Limit the number of consecutive directors terms allowable
  • Budget for board education (seminars, books, magazines, videos)
  • Revise governing documents using plain language
  • Make board meetings minutes easily and quickly available to unit owners

Financial Prescriptions

  • Commission a reserve study and update it annually
  • Adequately fund reserves to avoid special assessments by commissioning a professional reserve study.
  • Encourage owner participation on the budget committee
  • Have periodic outside audits of your finances
  • Invest reserve funds wisely to maximize yield through insured investments
  • Encourage purchase of homeowner insurance from the association insurance company to reduce gaps in coverage
  • Distribute timely financial information to owners
  • Adequately budget to maintain services
  • Develop volume discount programs that benefit residents; For example, cable TV services can be purchased in "bulk rate agreements" with 40-50% discount.

Asset Appreciation Prescriptions

  • Ask area real estate agents to assess the strong and weak market points of the association
  • Encourage upgrading of homes.

These prescriptions can and will make your community a healthier environment to live and grow in. Take two...no, take them all and see you in a new and brighter morning. For more healthy prescriptions, go to http://www.regenesis.net

Published: June 7, 2000

Use of this article without permission is a violation of federal copyright laws.


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Mortgage Rates
30 Year Fixed: 3.87%
15 Year Fixed: 3.16%
1 Year Adj: 2.78%
(U.S. Weekly Averages)

Today's Headlines 06/07/2000 12:00:00 AM


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