A new year offers homeowner’s association (HOA) board members an excellent opportunity to reflect on past achievements and set meaningful goals for the future. By adopting proactive strategies and focusing on key resolutions, your board can improve community engagement, ensure compliance, and foster a harmonious living environment. This article highlights New Year’s resolutions designed to guide your community toward success in the coming year.

1. Assess Service Provider Contracts
Assess existing service provider contracts to ensure your community receives high-quality services at competitive rates. This annual review is especially important for services such as landscaping, maintenance, and utilities. Identifying cost-saving opportunities or renegotiating terms helps maintain accountability and transparency.

2. Review Insurance Coverage
Protecting your community’s assets and effective risk management is a top priority. Conduct a thorough review of your insurance policies to ensure adequate coverage that aligns with the governing documents and state laws. Meet with an insurance expert to address potential gaps and mitigate financial risks. Staying proactive in this area can help safeguard your association from unforeseen setbacks.

3. Enhance Communication
Effective communication is the foundation of a thriving community. When residents feel heard and informed, it creates a sense of connection and trust. Consider dedicating time during each board meeting for members to share concerns or ask questions – this simple step can make a big difference. Equally important is keeping owners updated on the latest community news and developments, ensuring everyone stays aligned and engaged. Open dialogue fosters stronger relationships and a more harmonious neighborhood.

4. Optimize Financial Decisions
Making smarter financial decisions starts with crafting more effective budgets, planning for rising costs and inflation, and being thoughtful about community spending. Start by analyzing last year’s budget and actual expenses—this will provide valuable insights for planning the year. Additionally, take a proactive approach to managing delinquent accounts by reviewing balances and implementing strategies to collect them. Sending reminders and offering convenient payment options can motivate owners to settle overdue accounts, helping to improve the community’s financial health.

5. Ensure Emergency Preparedness
Being prepared is key to handling emergencies effectively. Review your community’s emergency plans and ensure residents are informed about evacuation routes, emergency contacts, and available resources. Collaborate with your community manager to tailor an emergency preparedness plan that addresses your association’s specific needs.

6. Establish Clear Goals for the Year Ahead
Setting specific, attainable goals is vital for your HOA’s success. Whether improving community engagement, enhancing curb appeal, or handling a large maintenance item, having a clear roadmap helps prioritize tasks. Be realistic and don’t try to be overly ambitious when setting goals, keeping in mind that board members are volunteers with limited time.  Incremental improvements are impactful, and even if your association is in perfect health, there is always an opportunity to make it even better! 

7. Pursue Educational Opportunities
Knowledgeable board members are essential for effective governance. Take advantage of educational opportunities on relevant topics such as financial planning, meetings, and governing documents. A commitment to learning equips board members with the latest industry insights and best practices.

By embracing these strategic New Year’s resolutions, your HOA can enhance functionality, strengthen community bonds, and position itself for a prosperous year ahead. Take this opportunity to create positive change and nurture a thriving community for all residents.

About Community Association Management Services
In business since 1991, CAMS has grown to become North and South Carolina’s premier community management company. With experienced local managers in each of its nine regions, CAMS provides innovative solutions to the community associations it serves. To learn more, visit www.camsmgt.com/choose-cams.