HOA (Homeowner’s Association) committees play a crucial role in fulfilling the association’s goals. The success of any townhouse organization’s or condo’s plans highly relies on board members’ contribution.
The HOA board members must have the requisite skills and qualifications to effectively carry out important tasks and manage resources. Depending upon HOA’s size, a board member must have completed a high school diploma or a bachelor’s degree in any field. Besides, he/she should have good communication skills and some basic knowledge of accounting.
Below is an overview of the educational criteria and skills required of an HOA board member:
Educational Qualifications
Generally, a board member needs to have cleared at least GED or high school diploma. For a large-sized HOA, members with bachelor’s or associate’s degrees are preferred for board positions.
However, in a small HOA, the existing board members usually do not have the minimum education or experience. These members are encouraged to take local courses, which are provided free by some HOA agency. Such agencies are specifically responsible for educating board members and tenants about the functions and operations of HOA.
Skills Required
- Communication Skills
Board members of HOA are expected to have effective interpersonal skills. Their communication tasks include disseminating association-related information through flyers, letters, phone calls, emails, and other channels. They are also in charge of building a positive environment and improving tenants’ participation in the association’s activities. Further, board members often have to communicate with each other, property managers, vendors, and tenants.
- Managerial and Administrative Acumen
The board members are tasked with the address of property assessment and annual tax issues, management and formulation of covenant policies, and update of articles/certificates of incorporation. It is even better if a member has an educational background or experience in management or administration. Such a member can provide valuable assistance to HOA in developing robust business infrastructure.
- Bookkeeping and Accounting Efficiency
Board members work out the budget plans, evaluate the association’s fees, set projects’ fees, and provide payment to the vendors for their services. They also need to analyze the accounting reports to assess the financial status of the association. Therefore, each board member is required to have basic knowledge of bookkeeping and accounting procedures.
- Computer Skills
Most of the HOAs utilize automation technologies to send notifications about meetings, policy changes, fee payments, etc., to the tenants. This calls for the use of computer applications and programs by the board members. Hence, the members must know how to operate the computer system.
Commitment to Continue Education
Workshops and seminars are often held to inform the board members about the updated and latest regulations and laws related to HOA’s management. It is usually mandatory for the board members to attend these sessions.
After leaving Wells Fargo Bank in 2014, Daniel began a career as a finance consultant, advising companies and individuals on economic policy, labor relations, and financial management.
At Nimblefreelancer.com, Daniel writes about personal finance topics, value estimation, budgeting strategies, retirement planning, and portfolio diversification.
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