3 Business Continuity Tips to Ensure Your HOA Operations Run Smoothly
To keep HOA operations on track, having a business continuity plan for board members to utilize during periods of disruption is vital. A business continuity plan outlines the processes board members must take to ensure operations in their community continue without delay when various situations, such as heavy snowfall or roadwork, occur.
If your board is looking for the best HOA business continuity tips to implement, AR Management recommends the following:
Using an Online Management Platform
When HOA boards cannot gather in person to discuss day-to-day operations, using an online management platform, such as Neighborhood Connections, helps members keep track of accounting, financials, activities, and board documents. They’ll be able to automate their board documentation and integrate accounting materials into the platform for easy access.
Establishing Communication Notices
When time-sensitive information needs to reach homeowners, it’s important to determine which board member will deliver the news and what communication platforms will be used. To streamline communication, boards that utilize Neighborhood Connections, AR Management’s patent pending platform, can efficiently send email and text notices to the community.
Setting Up an Emergency Fund
Setting up an emergency reserve fund helps board members pay for unexpected maintenance fees, equipment replacements, and additional costs. Boards that create this fund will be able ensure the health of the community continues when unforeseen circumstances arise.
Better Community Living Starts with AR Management
AR Management can help you community establish an online business continuity plan with our proprietary and patent pending platform Neighborhood Connections. Contact us to schedule a consultation and request a free demo today!