HOA management software can be a lifesaver for many organized communities. They can streamline the process and simplify many tasks, eliminating the need to hire staff and other services. But, HOAs don’t always know what to look for to effectively utilize HOA software.
What Is HOA Management Software?
HOA management software automates an association’s processes, tasks, and operations. It is a digital platform that can assist HOA management companies or self-managed associations in performing their duties.
For example, HOA management software may have accounting modules that help associations automate their bookkeeping tasks. They may also generate reports and keep digital records. These allow associations to abide by accounting standards and organize their books without accounting expertise.
Different types of HOA management software will offer different features. Self-managed HOA software may offer features such as CC&R enforcement and communications. Meanwhile, software designed for management companies will have specific modules dedicated to managing multiple HOAs at once.
Best Features to Look for In an HOA Management Software
There are over 300,000 HOAs in the United States. Each of them will have their own unique struggles that HOA management software can help with. However, homeowners associations cannot simply choose any random management software they find online.
That’s because each HOA management software offers different capabilities. This may cause confusion for many associations looking for reliable digital solutions. But there are certain features that HOAs should look out for in order to utilize management software effectively.
1. Online Payments
Homeowners associations of all sizes need to collect HOA fees from residents. It’s what keeps HOAs financially healthy. However, collecting dues through traditional methods can be challenging and inefficient.
A reliable online HOA management software will help HOAs automate this feature through online payments. Through this, residents can set up recurring payments to prevent them from missing a deadline. Moreover, they can even use various payment methods like debit or credit cards and electronic fund transfers.
Associations can also reduce the processing time by half. They won’t need to manually make bank trips or deposit checks. Payments can go straight into the HOA’s account. They are also automatically recorded, streamlining the tracking process.
2. Resident Portal
Good homeowners association software should offer an online resident portal. This allows community members to access key information without having to ask the HOA board all the time. The board will no longer need to address as many questions, allowing them to focus on more important tasks.
A comprehensive resident portal will offer homeowners the ability to access their accounts, track their payments, make online payments, and read announcements. Some may even have a discussion forum to facilitate communication between residents.
3. Communication and Announcements
A homeowners association cannot rely on the resident portal alone to make announcements and communicate with residents. That’s why associations must look for specialized communication features when looking for HOA property management software.
Through these features, the HOA may send automated calls and text messages to residents all at once. They may also print notices generated by the software to post or distribute physically in common areas.
4. Finance and Accounting Software
The best community association management software will provide automated financial management and accounting services. Through them, the HOA can automate the bookkeeping, streamline the budget planning process, and even automatically generate monthly financial reports.
This can reduce the board and treasurer’s burden, allowing them to perform their duties even without extensive accounting knowledge. It’s especially useful for homeowners associations that do not have HOA management companies or professional accountants to help them.
5. Digital Voting and Virtual Meetings
Homeowners association management software should have provisions for electronic voting and virtual meetings. This will allow the HOA to conduct fair elections as there is little-to-no risk of human error. It can also provide immediate results as the software can process all the votes in a fraction of the time.
In addition, electronic voting and meeting modules allow homeowners to attend meetings and vote on agenda items without being physically present. This reduces the need for proxies, encourages resident participation, and heightens the likelihood of reaching a quorum. It also makes meetings and voting more accessible for community members with physical disabilities.
6. Work Orders
Community association management software should have the ability to automate and streamline work orders. This is especially useful for larger communities that conduct more maintenance activities.
Through automated work orders, residents can make maintenance requests without submitting a physical form. The HOA board is also less likely to lose track of the requests and, depending on the software, even process them by batch. Moreover, they may even be able to automatically convert maintenance requests into work orders sent to the HOA’s partner contractors.
7. Violations Tracking and Reporting
The best HOA management software will be able to track violations and help the board enforce the rules in the governing documents. This eliminates the need to compile reports manually. Moreover, HOA management software also allows homeowners associations to send violation letters automatically.
8. Mobile App Integration
A robust HOA management software will offer the ability to access multiple features through a mobile app. This allows the HOA board to access their community’s information while on the go. It helps them manage the HOA from a distance, even while they’re on vacation.
A mobile app also makes everything more convenient for residents. They no longer need to access a computer to make payments, read announcements, or submit request forms. Homeowners can do it all within an app.
9. Digital Archive
It’s hard to keep track of community records. The HOA has to keep copies of minutes of meetings, financial statements, request forms, and contracts. A reliable HOA management software will offer a digital archive for homeowners associations to store all their important documents.
This eliminates the need to print all of the community’s records and reduces their printing costs. It also keeps all the documents organized, allowing the HOA to track documents by date or category.
Making Use of Technology to Simplify HOA Management
HOA management software has many advantages. It saves time and reduces the daily tasks board members need to perform. However, HOAs must focus on looking for the right features for their community to utilize HOA management software effectively.
Landmark Community Management is an HOA management company that provides the finest community management services. Contact us online or call us today at 512-569-5527 to know more!