COVID-19: it’s affecting all of us, and community associations are no exception. Today, we are going to be discussing how HOAs are changing their procedures as a result of this outbreak, and what the Board of Directors can implement to help ease homeowner tension, save money, and promote safety.
Before we begin, please be aware that federal and state regulations regarding COVID-19 are evolving on a regular basis. Please make sure to stay up-to-date on any enforcement measures that may be affecting your community.
Economic HOA Concerns
Unfortunately, COVID-19 has resulted in a great deal of economic hardship. Individuals who live in an HOA might be struggling to pay their association dues. However, there are a few things that a Board of Directors could consider to help.
For example, an association board could opt to amend their budget to temporarily reduce their reserve contributions and populate their operating account, helping to cover any unexpected loss in income during this time. Others could forgo late fees for a set period of time to assist members as they get back on their feet.
There are ways a Board of Directors can save money during this challenging time as well.
● If you frequently mail information out to your community members, reduce these mailings or use e-mail or your association’s website to convey information.
● If you have a community pool, consider delaying opening or keeping it closed this year. This may in the future become a mandatory safety measure implemented by your local government, if it hasn’t already. Regardless, it’s an effective cost-saving option.
● In addition, consider delaying landscaping projects during this time and focusing on building maintenance only.
Keeping Board Members Safe
Many associations are postponing meetings, or using technology like GoToMeeting or Zoom to host their board meetings. Some associations are choosing to switch from full management to being self-managed with the help of HOA Assist to save money as well.
Keeping Residents Safe
Lastly, COVID 19 is changing how associations keep their community members safe.
● If an association has a pool or a common area like a gym, these amenities should stay closed to protect members until further notice.
● Associations that use a cleaning service can opt to increase the frequency of cleaning to hinder the spread of the virus within any interior common areas.
To anyone who has lost someone or is currently ill with the virus, our hearts and prayers go out to you and your family.
There is no doubt that this virus is recalibrating our economy and our way of life. In the midst of this pandemic, empathy is being demonstrated on a daily basis. Association members across the country are delivering food to their at-risk neighbors while individuals in healthcare are working tirelessly to assist those in need. We want to extend a “thank you” to anyone who is making an impact through profound or simple acts of kindness.
We sincerely hope that this post has provided some encouragement to your association, as well as helpful policies you can implement during this difficult time. Thank you for reading, and consider subscribing to our YouTube channel if you want to stay up-to-date on more HOA content.
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