Goals for Enhancing Property Value
It takes a lot of planning and work to maintain our property value.
It's important for owners to know where we are spending our money.
Here are current needs to be considered.
Goals for Enhancing Property Value
It takes a lot of planning and work to maintain our property value.
It's important for owners to know where we are spending our money.
Here are current needs to be considered.
Follow the governing documents—budget ratification, meetings, garage storage enforcement
Amend the governing documents to clarify conflicts such as quorum, decks, meetings
This copy of the gov docs might be useful for considering changes. Maybe. ??
Create and use a Preventive Maintenance Plan
It would help avoid deferring maintenance. Here’s an article that explains it better than I can and Google's AI plan :-). A schedule and record would make sure we’re budgeting properly to get everything done when it needs to be done. Then we trust Mark to look at the facts on the ground to tweak the plan as necessary when he sees a need. A plan would also be available to share on the website or portal. Seems like a great selling point to show how conscientiously we maintain our property.
Keep up with higher cost maintenance items.
We have paid for a Reserve Study, and since it was a decision of the board, it should be seriously considered as a way to maintain our higher cost elements—roads, painting, carpeting for example. Here’s a summary of how the study suggests we approach making sure our high cost items are well maintained without needing emergency special or supplemental assessments. Costs are from 2021, so they are low.
Upgrade the delinquency collection policy.
We are now around $50,000 under what we should have available to us for upkeep. In some ways, our current delinquencies cost us nearly $500 per year per owner to make up for the shortfall. I hope you’ll check into AXELA which other associations use with positive results.
Keep the Residence Center updated by adding bylaws, handbook and other procedures and information. (Currently no bylaws, but the rest is helpful—thanks!)
Or use a Manor community website. Owners, and especially prospective owners, can find and download the information they need like minutes, reserve study, various forms and procedures without log in. I keep it up to date and would be happy to change and bequeath it to the association and continue to maintain it. I would also teach others to keep it current.
Open board meetings with a clear policy and an announcement with agenda 10 days before per state law.
Here’s a draft of a possible policy to start with. It’s really important to have open board meetings to educate and involve owners and maintain transparency. They help build community.
Take action on decks and patios beginning with an owner's meeting.
I’ve gathered lots of information on this issue. Boards have now used three different approaches over the past ten years but have never had a special meeting to educate owners and listen to our opinions and preferences. Here’s info that can be used for a meeting and as a summary handout. The slide deck gives more background info.