Issue link: https://www.cominghomemag.com/i/1543375
ASK A COMMUNITY MANAGER Rosa Henao, CMCA® AMS®, is a portfolio community manager for Associa Community Group. As a credentialed manager, she supports various association boards, utilizing her industry expertise in governance, compliance, enforcement measures, communication strategies, project oversight, and more. In a managed community, a board of directors oversees operations, handling everything from budgeting and rule enforcement to common area maintenance and more. This board has a fiduciary duty to represent owners' best interests and keep the community in top shape. As an owner, it's important not only to hold the board accountable but also to do your part in supporting the community's growth. We asked Rosa Henao, CMCA® AMS®: What questions should homeowners ask their boards to ensure a prosperous future? Here's what she had to say. What Questions Should Homeowners Be Asking Their Boards? OUR INSIDER REVEALS THE MOST PRESSING INQUIRIES. "Homeowner involvement is crucial to a thriving community. All residents should ask: How can we help the board? Whether it's by volunteering on a committee, attending board meetings, or providing feedback, anything you can do to support the board helps. Your input guides their decisions, and lending a hand allows them to concentrate on other responsibilities. What are the biggest community concerns? True success doesn't come without challenges, and no community operates at optimal capacity all the time. When inquiring about various matters, you don't want perfect answers, but truthful ones. This transparency shows that board members are open, honest, and have nothing to hide. Where does our reserve fund stand? A reserve fund is dedicated money that the association sets aside to pay for future replacements and major repairs of common elements. A healthy reserve fund is critical for long-term planning, and often required by law. If something unexpected happens and funds are low, you might have to pay special dues to cover the cost. Have you considered investing reserve funds to earn interest? Even if reserves are already invested in CDs, money-market, or high-yield savings accounts, interest rates fluctuate. Your board should connect with banking partners to learn about any new, higher-interest-bearing programs. While the return and interest rate offered will vary by bank and depend on account terms and conditions, this may ease some of your community's financial burden." 18 COMING HOME MAGAZINE