As new board members soon find out, a wide variety of skills are needed to make sure an association runs smoothly. Below, we’ve highlighted four important skills that help boards run effectively.
Develop a clear vision of where you want your association to go and set goals to get there.
Goal setting is one of the most underrated aspects of association management. But, it often makes the difference between spending all your time in crisis management and making great improvements to your association’s financial situation and infrastructure.
Cultivate a working knowledge of your association’s budget and financials, especially reserve studies and reserve funds.
Association finances is a broad subject and can feel overwhelming, especially if your board is inheriting a less-than-ideal financial situation. It doesn’t help that there are many moving parts to association budgets!
However, an association’s ability to keep homeowners feeling satisfied is often directly related to the layers of financial protection, past and present, that boards set up for their HOAs. Creating an action plan to develop a reserve study and adding to your association’s reserves are some of the best gifts you can give to current and future homeowners.
If you have any questions about your association’s reserves, reserve study, financials, or budget, seek guidance from professional assistance, such as a management company or HOA attorney.
When confronted with a problem, focus on asking questions and listening to answers.
Conflicts are more effectively resolved when you work to understand what feelings an individual is expressing, and pay attention to their words. Whether you’re speaking to an irate homeowner or a vendor who has uncovered a serious issue (like broken pipework!), be careful not to shut down when the emotions run high. Show people that you listen; it goes a long way in solving problems. With the information you gained from careful listening, you can ask the right questions to discover the best possible solutions!
Develop a balance between being tough and being agreeable.
Expecting homeowners to honor the rules and regulations they agreed to follow when they bought their property is reasonable. However, unexpected challenges can crop up in even the most organized people’s lives. Demonstrating your understanding in these moments builds trust and inspires collaboration among homeowners.
Because board members come from diverse backgrounds and experiences, each person brings different skills to the table. Leaning on each other’s talents and strengths will create a well-balanced board capable of tackling the most challenging problems. Develop these four skills to help your association run even more smoothly!
