The Hidden Cost of HOA and Condo Board Duties: How Time Spent Impacts Your Life and Organization
As a board member time is one of your most valuable assets. However, many board members find themselves buried under the demands of meetings, reporting, and administrative tasks. One customer recently shared how they were spending over 30 hours a month on board responsibilities—time they believed could be used more effectively. Their goal? To find a solution that simplifies board work, making it faster and more efficient.
The Cost of Volunteer Time vs. Paid Time
Consider this real-world example: Pete, the treasurer of a 45-home community, shared that his community’s accounting didn’t match the bank statements. Despite outsourcing the accounting, Pete spends 10 hours a week (40 hours a month) resolving discrepancies. On top of that, he devotes another 10 hours a week to management-related tasks.
Pete put it bluntly:
“I’m working my a** off for this non-paying volunteer role.”
He added that if he were billing for his time, his rate would far exceed the fees they currently pay for accounting services.
Now imagine if Pete’s time spent on accounting tasks could be reduced to just 10 hours per month. The savings from those additional 30 hours are significant. If Pete’s regular job pays $25 per hour, that’s $750 in unpaid time regained. With this reduced workload, Pete could:
- Earn an extra $750 per month.
- Spend more time with loved ones, pursue a hobby, or focus on personal growth.
This time savings doesn’t just benefit individuals. For a board of three members, each working 30 hours a month, the collective unpaid time totals 90 hours—or $2,250 in lost value (at $25/hour). While your community’s numbers may differ, you can apply this calculation to see how much your time is worth.
A Smarter Way to Manage Board Duties
The solution isn’t stepping away from your responsibilities—it’s streamlining and systemizing how the work gets done. Here’s how to start:
- Systemize Board Processes
Use a centralized system to track agendas, meeting notes, tasks, and communications. This ensures continuity, reduces time spent searching for information, and simplifies onboarding for future board members. - Delegate Responsibilities
Clearly define roles to minimize redundancy and ensure everyone is focused on specific, manageable tasks. - Outsource Administrative Tasks
Offload time-consuming duties like scheduling, document management, and other repetitive tasks to professionals or specialized services. - Invest in the Right Tools
Board management software can centralize key functions and automate processes, drastically cutting down on the time spent on administrative work.
The Bottom Line: Time is Valuable
Time spent on volunteer board duties is time taken away from earning income or focusing on personal growth, hobbies or time with loved ones. By implementing systems, delegating tasks, and using the right tools, you can reclaim valuable hours while ensuring your organization operates efficiently.
If you’re ready to make your board operations more efficient, Community Financials is here to help. Our services and tools are designed to reduce the burden of board duties and save you time. Start today by filling out our RFQ to receive a customized quote tailored to your community’s needs.
