Does Your HOA Have a Records Retention and Destruction Policy? It Should
The ongoing operations of a homeowners association involve the receipt and creation of huge volumes of varying types, sizes and shapes of documents. The proper management of those documents can become quite complex and the task is compounded by such things as the passage of time, changes in personnel, space limitations, and technology. To properly manage all of the records that are involved in the day-to-day operations of a homeowners association, association management personnel must have a general understanding of how records should be categorized and how long they must be retained. As this knowledge is passed on to successors who assume management roles, the association needs to have a clearly defined records retention policy that will enable the successors to maintain consistency in the retention of the association’s records.