The year is quickly coming to a close and there are many things the HOA must do before it can kick off 2017. Staying organized and on top of tasks can help boards feel more prepared despite the hustle and bustle of year-end holidays. Making sure plans are well under way now can create as strong start when things pick back up in January. Kuester Management Group has released a statement to the press regarding ways HOAs can end 2016 on a positive note.
“December is a very busy month for everyone,” says Bryan Kuester, President of Kuester Management Group. “Many HOAs are scrambling to put the finishing touches on new budgets, get final reports from committees, and ensure homeowner and community needs are met. This can be a lot to take on, but knowing how to prepare can ease transitions from one year to the next.”
If HOA boards haven’t already starting creating the budget for 2017, that is something they’ll want to do, notes Kuester. Carefully review finances from throughout the year and determine which areas need to be adjusted. Perhaps more money was spent in one area than anticipated, but there were excess in another. Make adjustments to account for upcoming projects and repairs as well. Having a solid grasp of year-end financials is also essential for determining whether HOA fees need to be changed.
Sending out requests for proposal (RFPs) in advance can help the board budget for vendor services for the upcoming year and also compare different options. It may be more cost effective to switch providers or try to negotiate for a better price. As the board is going over its financials, start gathering together necessary tax documents. Make sure that everything is in place and nothing is overlooked. Once the year closes out, it’s just a matter of putting together the final pieces.
December is also a good time to put the final touches on the 2017 HOA calendar, says Kuester. Schedule out board meetings, special events, training activities, projects, and other important tasks. Update the community calendar online so that homeowners and committee members can start planning ahead to attend.
Send out a friendly eblast, newsletter, or update wishing homeowners a happy holidays, announcing upcoming events they may be interested in, and reminding them of important guidelines for the holidays, such as parking, noise, decorations, changes in trash or recycling pickup, and other essentials. This can also be a wonderful opportunity to thank everyone for their participation, cooperation, and service throughout the year and get them excited for what 2017 has in store.
Kuester Management Group is excited to continue working with amazing HOA communities and supporting boards in enhancing operations and communications in the new year.
For more information about the wealth of services Kuester has to offer, visit www.kuester.com
Kuester Management Group, a division of Kuester Companies, works to protect property values and enhance the quality of life in each of its managed communities. Providing a full range of association management services, Kuester Management Group has worked to foster strong, resilient, and unified communities across North and South Carolina. The company is proud to offer on-site property managers, all zealous for building strong communities meant to stand the test of time.
More information is available at www.kuester.com or @KuesterCompany