The Community Associations Institute estimates that there are 10,850 community associations, including homeowners associations (HOAs), in Washington. An estimated 2.45 million Washingtonians live in these associations. About two in three are happy, saying they have "positive" community living experiences.
Many of those happy communities have HOA property management companies to thank. With these professionals overseeing community management, HOA operations, from fee collection to property upkeep, become more seamless and efficient.
So, join us today at PMI Puget Sound as we reveal how HOA services from reputable association management firms can benefit your Maple Valley, WA community.
Understanding Full-Service HOA Property Management Companies
Full-service property management companies take over many of HOA board roles. They help maintain the community through:
- Financial Management: Track budgets, manage expenses, and collect HOA fees
- Maintenance Coordination: Arrange repairs and upkeep for common areas
- Legal Support: Ensure compliance with local regulations and governing documents
By employing professional managers, your HOA can ensure adherence to community guidelines while promoting a sense of unity within the neighborhood.
Moreover, HOA managers can help maintain or improve property value. As the National Association of Realtors (NAR) notes, properties in HOA communities can be worth 5% to 6% more than comparable houses without an HOA.
The Benefits of Hiring HOA Property Managers
Engaging a professional HOA property management firm allows board members and homeowners to focus on enjoying their community rather than getting bogged down by day-to-day operations.
Property managers possess specialized knowledge and skills to handle the various duties of HOA management. They will use the following to guide your HOA toward excellence:
Communication Skills
HOA managers are excellent communicators who can:
- Handle tenant inquiries
- Consult with vendors
- Keep homeowners informed of events and HOA rule changes
Problem-Solving Skills
With a property manager, your HOA can quickly find and solve issues like:
- Homeowner-to-homeowner disputes
- Tenant problems
- Unpaid HOA dues
Customer Service Skills
HOA managers have strong customer service skills that they will use to listen actively and empathetically and attend to the needs of the following:
- Property investors
- Board members
- Property owners
- Tenants
- Contractors and vendors
Negotiation Skills
Property managers negotiate on behalf of property owners, whether with contractors, vendors, or tenants. Their goal is to achieve favorable outcomes and cost savings for everyone involved.
Organization and Time Management
HOA management experts can:
- Juggle day-to-day HOA tasks and responsibilities efficiently and promptly
- Organize and review critical documents (e.g., the HOA's finances, covenants, and tax forms)
- Pay contractors and vendors on time
So, homeowners in Maple Valley can save valuable time and money by delegating responsibilities to a professional HOA manager.
Invest in Your HOA Community's Future
Working with competent HOA property management companies can significantly enhance the quality of life in community associations. Luckily, you don't have to look far and wide to find one in Maple Valley, WA, as PMI Puget Sound is here to help!
Our locally-owned and operated full-service property and association management firm is a proud member of PMI, a fast-growing national franchise. In the last 20 years, PMI has strived hard to improve the property management sector. With their backing and our team's local knowledge, real estate background, and exceptional skills, we'll help your HOA excel and be a community its residents are proud of.
Speak with us today for a free consultation or to request your bid!
