So, you’ve joined a Homeowners Association (HOA) and found yourself in a leadership role. Perhaps you volunteered to join the board. Either way, some of your responsibility now entails addressing various HOA issues. Managing an HOA is a complex task. A good manager needs to stay on top of accounting, collect HOA fees, and maintain open communication channels for their community. As a board member and manager, it’s your responsibility to work for the best interests of your association and ensure everything runs smoothly.
Effective Homeowners association management requires a combination of powerful software and expertise.
What is HOA Management Software?
HOA management software is a comprehensive program that organizes a broad spectrum of information related to your homeowners association. The software effectively combines and automates the management of everything from your resident payments and other financial activities to the violations management process to board reporting and much more. The purpose is to enable more efficient management of the HOA.
7 Benefits of HOA Management Software
#1 Cost Savings
When the majority of the menial administrative tasks are delegated to software robots, your business productivity will dramatically increase. With this boost in productivity comes a subsequent reduction in money spent on performing these tedious tasks. Over time, these savings will add up and, as a result, the board will appreciate the ability to allocate more of their homeowner fees on things that will improve their community and enhance their quality of life.
#2 Conveniently Manage Every Aspect Of Operations In One Place
While most people know what a homeowners association is, many don’t understand how powerful it can be. HOA management software allows you to schedule maintenance, track requests and expenses, create policies and rules, communicate with residents, send invoices, etc.
You could quickly find yourself going headfirst into a major time-consuming project if you didn’t have a system to keep you organized. Let’s face it; sometimes, even the best plans can fall apart, or tiny details can keep you busy for hours when handled manually.
However, with an effective system in place, it becomes effortless for you to stay on top of things as they happen and plan accordingly.
#3 Better Financial Reporting
Many of the people who rely on financial reporting for your community are not accountants. As such, it can be incredibly helpful to have reports drawn up that are clear, straightforward and easy for everyone on the board to understand. HOA management software can enable you to product financial reports that are self-explanatory and simple to understand. This will help to minimize potential misunderstandings and facilitate better financial decision making.
#4 Streamline Communication
Many homeowners find that they aren’t getting notifications from boards unless something bad happens. But at the same time, they either haven’t checked their email much lately or don’t care enough to look at the emails coming in.
Since most homeowners feel like they don’t need to see the daily operations, they just let it slide. However, when there is a problem, the lack of communication between boards results in some issues not being resolved until someone gets frustrated and decides to call their board member personally.
With HOA management software, boards receive notifications whenever anything significant occurs, which helps resolve situations before problems arise.
#5 Help Keep Your Property Manager Happy And Motivated
As mentioned earlier, the key here is helping HOA board members and property managers streamline solving problems quickly and electronically rather than handle everything manually.
Instead of spending hours filling out forms by hand, managers have a set of tools at their disposal when using HOA management software to ensure that the job gets done correctly and efficiently.
You won’t be spending countless hours staring at paperwork, wondering where everything went wrong. Managers now have access to reports showing breakdowns in service, so they know right away when a policy needs to be updated, or a resident has been in contact with their office.
Furthermore, administrators who spend more time working will experience higher productivity since they won’t waste any time worrying about paperwork and scheduling issues.
#6 Provides A Better Experience For Residents
One of the nicest things about HOA management software is that it provides homeowners within the community a quick, easy and super convenient tool for conducting business as it relates to their homes. For instance, they can pay their monthly or quarterly fees right online, submit maintenance requests and view or print signed documents at any time with a few simple clicks of a keyboard. Oftentimes just selling this benefit alone can be enough to get residents on board with the investment.
#7 Environmentally Friendly
Because HOA management software handles most tasks and workflows digitally, it’s much easier to make the transition to a partial or fully paperless environment. For example, many of the things that would normally be produced on paper, such as announcements and event calendars, can be posted online instead. This can dramatically reduce the carbon footprint of your community – something that many homeowners are passionate about and would therefore strongly support.
Ivrnet’s Homeowner Association Management Software
HOA management software benefits residential managers, board members, and community owners. It improves efficiency and increases profits by allowing managers to get work done faster while reducing mistakes and providing transparency to homeowners.
HOA board members benefit from this because they can cut down on their workload, free up time and energy for other tasks, and stop wasting money on things that can be streamlined using this type of software.
Are you looking for the best HOA software management solutions? Ivrnet’s Homeowner Association Management Software is the culmination of two decades of software development enabling you to efficiently manage memberships, properties, facilities and programs while taking PCI compliant payments and communicating with members via multiple channels. Visit ivrnet.com to learn more and schedule an interactive demo today.