As of 2011, more than 62 million Americans live in communities that are overseen by homeowners associations. These associations collect fees from homeowners and enforce established rules regarding the appearance and maintenance of properties, and they also settle disputes between neighbors. The homeowners association president helps to run the organization and has similar powers to a corporation's CEO. He or she is responsible for daily administrative tasks and can order actions that are necessary to advance the goals of the association.
The HOA president sets up association meetings and runs them. He meets with the board of directors and association members to establish important issues to include on the meeting's agenda. He directs the meetings so the association directors discuss the items on the agenda and don't go over the allotted time. He is responsible for knowing about proper association procedures and voting methods.
The president is responsible for the fiscal well-being of the association. These responsibilities include establishing a budget, directing funds to budget items, collecting HOA fees, allowing for a reserve of funds and maintaining insurance coverage on behalf of the association. If an expenditure is required, such as paying a contractor to improve the grounds or items to display in front of the properties, she must often authorize the purchase if it exceeds a specific amount. She is also responsible for maintaining bank accounts on behalf of the association.
Representation of the Association
The president might field calls from homeowner association members, representing a particular board member who can be contacted when an issue arises. His signature is often legally binding on the association. This might give the president the power to enter into contracts with local contractors, advertisers and association members.
The HOA president might have other responsibilities that are specifically designated by the board of directors. She might be responsible for setting up various committees to carry out the association goals. She might also be expected to promote the association to potential and existing community homeowners. She is responsible for monitoring the progress of other association board members. She usually reviews and approves the board minutes after meetings.
- Bankrate.com: Homeowner Associations: Devils or Angels?
- Community Association Management: The HOA President's Role
- Community Associations Institute: The Board President: Roles and Responsibilities in Community Associations
- Home Owners Association of Tellico Village: President Job Description
- Community Associations Institute: Industry Data
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