Over a third of Washington's homes are situated in community associations.
Homeowners associations should provide residents with a wide set of perks that they can't get with traditional homeownership. Unfortunately, countless reports across the country of HOA mismanagement cause a lot of owner frustration as well.
If your HOA is bringing you more stress than joy, it may benefit from professional management. In today's post, we'll explain a community manager's role in everything from HOA property maintenance to financial management. Keep reading and learn how to turn your community around.
Financial Management
One of the most important aspects of running an HOA is money management. All homeowners must pay their HOA fees to deal with everything from property expenses to community maintenance. If money isn't being properly managed, your community will have trouble paying for basic necessities.
A community manager will bring accounting experience to your HOA. They'll collect fees on time, keep the HOA books balanced, and create budgets that make sense. This should help to keep dues at a minimum while giving residents what they need.
HOA Property Maintenance Planning
Every resident expects to get HOA property and community maintenance. Having a well-maintained community brings feelings of comfort and safety to homeowners. It also creates more investor interest.
When investors see a thriving community, they'll be more likely to show interest in your community. This will drive property values up. Some HOAs have property values up to 4% higher than non-HOA homes.
To ensure your community is maintained, you need good vendor coordination. An HOA manager will bring their vendor relationships to your community. Whether you need bi-weekly trash pickup or landscaping, the right vendor will be there for you.
Resource Allocation
Resource allocation is a huge part of good community management. Every homeowner should have a say in where their HOA dues go. HOA meetings are a great place to discuss resource allocation, as well as a wide variety of other matters.
When you have an HOA manager, they can run organized meetings that get things done. They'll make sure all voices in the community get their say. As soon as meetings are adjourned, the manager will get to work putting plans in place.
HOA Governance
All HOAs have unique rules and regulations governing residents. Of course, there are always going to be rule breakers, so it's up to leadership to deal with them. If they can't handle conflict, they may defer to bad actors, which will infuriate the rest of the community.
HOA managers have no problem issuing fines for poor behavior. They'll also help keep the peace by diffusing conflicts between homeowners.
Get the Best HOA Manager in Tacoma
To experience all of the benefits of good management, such as HOA property maintenance and governance, you need a great HOA manager. PMI Cascade is the top community management company in Tacoma and part of the largest property management group in the country.
We can take your underwhelming community and turn it into a thriving enterprise. Contact us today to learn more about us.
