Overseeing a homeowner’s association demands a unique skill set, which can determine whether you achieve your goals on time. HOA leaders must possess administrative skills, leadership abilities, and solid people skills. Perhaps the essential skill of all is knowing how to set reasonable goals for your HOA.
The SMART Formula
HOA goals are vital to maintaining an effective organization, but an unrealistic plan will only result in wasted time and frustrated community members. Leaders can avoid this outcome by sticking to the following SMART acronym formula.
Specific
The first principle of effective goal-setting is choosing a specific objective. If an organization declares that it will allocate funding to “improving the landscape,” this is too ambiguous. However, if the HOA gives a budget to plant 15 new trees, it provides a specific target. The organization can then solicit estimates from local landscapers and nurseries to ensure the goal fits within the budget and time frame indicated. Additionally, it helps HOA leaders focus on a certain goal with the hope of achieving it without delays.
Measurable
It’s essential to know how to measure goals, too. The example above of “improving the landscape” is problematic because “improvement” is too general and subjective to be measured. If an HOA instead commits to planting 15 trees, however, the success of the goal can easily be measured by whether the goal was met, unmet, or partially fulfilled. Ultimately, specificity and measurability go hand in hand.
Achievable
There’s no use setting a goal if the resources of the HOA cannot accommodate it. If the organization decides to plant 15 trees, for example, then the plan should specify a variety that is native to the area. An HOA in Missouri shouldn’t aim to import 15 Japanese cherry trees. It isn’t attainable, and setting unachievable goals like this will only cause lost time, funding, and resources.
Realistic Similarly, an HOA must be realistic about what it can achieve. It often has to do with the cooperation required from community members. The organization may have the time, budget, and resources to overhaul every inch of landscaping in the community — but is it realistic to expect residents to put up with this? Weeks of early morning leaf blowers and tree cutters won’t sit well with community members. HOA leaders should always set goals in consideration of how residents will respond.
Timely
HOAs are responsible for many tasks within their communities, and setting ambitious long-term goals isn’t always the most effective approach. An HOA can accomplish a good plan in a timely fashion. An organization can invest in HOA insurance rather than aiming to eliminate unauthorized parking, for example — a process that could take months or years to enforce successfully. HOA insurance offers immediate protection to a community and helps mitigate any risk factors that may take a while to completely correct.
About Kevin Davis Insurance Services
For over 35 years, Kevin Davis Insurance Services has built an impressive reputation as a strong wholesale broker offering insurance products for the community association industry. Our president Kevin Davis and his team take pride in offering committed services to the community association market and unparalleled access to high-quality coverage, competitive premiums, superior markets, and detailed customer service. To learn more about the coverage we offer, contact us toll-free at (855)-790-7393 to speak with one of our representatives.