When they are first written, the governing documents for a planned community address everything that is pertinent to the business of the community. As time goes on, however, the documents often fail to address new issues that impact the neighborhood. This is why keeping governing documents up to date is an essential part of HOA management. There are several circumstances under which documents should be updated. Below are four of them.
Technology is Changing Life in the Community
In the past decade, cell phones and smart devices have changed the way people interact -- even at community meetings for planned communities. Should residents be allowed to film meetings using a smartphone? Should they be able to use their phone while driving through the neighborhood? These are examples of technology issues governing documents should address.
The Number of Renters in the Community is Growing
The number of renters versus the number of owners is a commonly talked about HOA management topic. In many cases, communities prefer the number of renters to be less than the number of owners. If this is the case in your community, and the governing documents don’t address the issue, it is time to upgrade them with regard to real estate rentals.
Collecting Late Assessment Fees has Become More Challenging
Some boards for communities struggle to collect late assessment fees. If your board is among them, creating a new collection process with the help of a provider of community management services is a good option. With the right collection policies in place, many boards can be as effective at collecting late assessment fees as debt collection agencies.
State or Municipal Laws Have Changed
If state or municipal laws that impact your community have been passed since the last time the governing documents were updated, it is time to bring the documents current with the new legislation. Having community bylaws that oppose state or municipal laws can create confusion for residents. Governing documents should reflect the latest state and municipal laws.
Now is The Time to Act
If the governing documents for your community haven’t been updated in years, chances are that some important changes should be made to make the documents more contemporaneous, especially concerning the topics listed above. If the board for your community needs assistance making updates to governing documents, contact a provider of HOA management services to schedule a free consultation.