CALL US: (855) 999-4505
Scott Litman
  • Home
  • Services
    • Hoa
    • Commercial Landlord Insurance Policy
    • Commercial Earthquake
    • Earthquake Insurance Coverage
    • Apartment
    • Workers Compensation
    • Umbrella
    • Personal Lines
  • Resources
    • Certificate of Insurance / Evidence of Insurance
    • Faq
    • Davis-Stirling Act
  • About
  • News
    • What’s Going on Here?
  • Contact
    • Careers

How New HOA Board Members Can Prevent Common Mistakes

Home| All| How New HOA Board Members Can Prevent Common Mistakes

13
Sep, 2016
By Scott Litman
How New HOA Board Members Can Prevent Common Mistakes
  • All,Home owners association
  • No comments

Any new position requires time to adjust to the learning curve of the new responsibilities. Starting a new position in serving on the board of your Home Owner’s Association is no exception. It’s important to be aware of the implications that a mistake could have on your HOA and its members. By protecting yourself and your association with a comprehensive and custom tailored Ventura HOA Insurance package you and your board members will be less likely to succumb to any mistake.

Mistake #1: Not understanding how the association works

Learn the rules and regulations of your particular association to avoid putting your firm or yourself at risk for litigation. David Regenbaum, founder and CEO of Association Management, Inc. stated to a HOA Leader, “New board members need to really learn about the association. They should go to a course or get their managing agent to give them an overview of their roles and responsibilities and the management plan in existence at the association.” Following these rules can prevent miscommunication and legal mishaps.

Mistake #2: Overstepping your bounds

As a board member, it is your responsibility to oversee and uphold the community in which you reside. If the HOA’s governing documents do not specify your legal right to interact within the community in a certain way, it is unlawful to move forward. While knowing the HOA’s governing principles it is also best to proceed any interaction with clear communication to understand how to proceed. In doing so your duty as a board member will be not only be lawful but beneficial to your community.

Mistake #3: Only focusing on short-term financials

Your association’s financial records should be taken very seriously. By focusing on your short term logistics of your financial investments you can achieve strength in your long term financials. It’s wise to invest in a person who can keep your financial statements accurate. This will ensure that your money is handled effectively.

Mistake #4: Switching vendors without approval

Remember that when you are on a board of directors for the HOA the opinions of the other members are important to the success of your community. If you hastily switch vendors who were contracted by another member, you could expose your HOA to lawsuits and cause a rift between the other members. Make decisions rationally by ensuring everyone, or the majority, is on board with the decision; pun intended.

Mistake #5: Straying from the character of the association

The existing lifestyle that the association provides should not be compromised negatively due to a new incoming board member. The integrity of the association and its members should be upheld at all times. Many times newbies can influence the whole. It is imperative to make sure that the influence is in line with the board’s values and ethics.

At Scott Litman Insurance Agency, we strive to protect HOA’s like yours. We specialize in reviewing current insurance policies to determine whether or not vital components and limits are missing, many of which violate CC&R’s requirements. From Employee Dishonesty coverage to Director and Officer liability, we are experts in navigating the insurance policies you need to achieve protection and peace of mind. For more information about our products, we invite you to contact us today at (855) 999-4505, or fill out our online form.

About Scott Litman

SLIA Scott litman

For over 20 years, Scott Litman Insurance Agency has been providing maximum coverage and insurance education to property management companies, board of directors, landlords, and HOAs. We go above and beyond to secure the right amount of protection to fulfill the needs of each client. Our dedication to their success has allowed us to joyfully watch them flourish year after year.

Contact

  • 23147 Ventura Blvd, # 150
    Woodland Hills, CA 91364
  • Tel: 818-879-5980 ext.201
    Fax: 818-879-5990
  • Info@SLIAins.com



Privacy Policy

Recent Posts

July 25, 2018 | BY Scott Litman The Responsibilities...

There are certain qualities of treatment that homeowners should expect

July 18, 2018 | BY Scott Litman How to Create and...

In 2018, most people prefer to get their information from

Be a Hero Web Banners

Newsletter Signup

By subscribing to our mailing list you will get the latest news from us.

Follow Us

© Scott Litman Insurance Agency, Inc.    License #0H00447