When your HOA was created, its governing documents were probably fitting for the times. But years later, those bylaws, covenants, conditions, rules, regulations and restrictions, might not cover everything that you want to control. As a result, you might be left wondering when it’s time to modify your HOA’s governing documents.
How do you know it’s time to update HOA governing documents?
There’s no one answer here. It’s usually a good idea to revisit these documents every three to five years to ensure that they still meet your needs, but when you do so you should carefully analyze where there are gaps that need to be filled.
It might be helpful to create a list of things that you’d want to change about your HOA if you could. Then you can comb through your governing documentation to see if that’s a realistic possibility. It’s also a good idea to look at your documents from a liability perspective so that you find additional ways to protect our HOA from litigation.
Modifying HOA governing documents
But changing your HOA governing documents may not be as easy as you hope. For example, you could run into issues with reaching a quorum, thereby preventing you from effectuating any change. In these instances, your first step is to look for a mechanism that allows you to more easily change your governing documents, such as modifying voting power, or the number of people needed to effectuate such change.
Don’t let outdated governing documents put your HOA at a disadvantage
All too often, HOA governing documents are forgotten about until their shortcomings become problematic. Don’t wait that long. Instead, routinely revisit your documents to identify needed modifications. This can go a long way toward protecting the vitality of your community and shielding your HOA from litigation.