If you are part of a Homeowners Association, it’s important to invest in a quality HOA management software solution.
An HOA software platform makes it easy to communicate with members, manage your accounting and collections, and in some cases even manage your website. There’s a sense of accountability when you have software in place, as well as visibility and transparency.
The following are features to consider and things to know as you’re comparing HOA software options.
Management from Anywhere
The goal of your HOA software should ultimately be convenience and ease of use. With that in mind, look for software that lets your members gain access from any device or browser. That will improve overall productivity and communication.
As well as being able to access the platform from anywhere, it needs to be user-friendly.
Too often organizations will invest in overly complex software, and then it’s wasted funds. If your users aren’t comfortable interacting with the platform and if it doesn’t feel intuitive, it’s not going to deliver value.
Too much complexity doesn’t equate to better software, and in reality, it can mean you’ve selected the wrong product.
Along with these ideas is flexibility.
Your software should improve relationships among residents, so they should ideally be able to access communication and information in the ways they prefer.
Online Dues Collection
You can make dues collection easier and more hassle-free for everyone if you choose a platform that allows for it to be done online.
Choose a solution that will offer the utmost in security and will support major credit cards ad ACH.
Some platforms will let owners enroll in auto-pay so they don’t even have to think about making their payments and you can reduce the risk of late payments.
As far as the general member portal, you want to look for options that let homeowners quickly log in and see their accounts. They can check on their payments that might be due, as well as assessments, governing documents, and reservations for amenities.
When you have a full-service, seamless HOA platform, it helps with not just financial management. It also helps reduce the phone calls owners make to your board members, saving time.
An HOA software solution can integrate all of your communication in one place.
This means that you can easily log in and send out emails, past-due notices, or texts.
Everything related to communication is organized in one place.
Look for software that lets you share surveys and calendars to boost resident engagement, and you can even include event registration on some platforms.
Accounting is possibly the most critical reason to have HOA software.
You want accounting solutions that are easy to use, even with no previous accounting experience.
You can build charts that will let you see trends and relevant data at a glance, and you should also be able to create and share budgets.
You may want to choose software that syncs with many different financial institutions so that you don’t have to worry about a double entry.
Your software should allow for the organization of all relevant documents, and you should be able to set documents and folders as private, shared with certain people, or shared with everyone.
What to Ask When You’re Choosing Software
As you choose HOA software, ask yourself and other stakeholders some of the following questions to guide your decision:
- How will the software improve accountability among the board? Will you be able to show the work that’s done to other board members and residents? You want not just accountability but also software that’s going to ensure everyone is on the same page, and communication is transparent and streamlined.
- When you’re choosing HOA software, if you run into a problem what type of support does the provider offer? Once you’re up and running, how do you contact the company with questions or troubleshooting?
- What do other users say about the software? Before you invest in a solution, you can ask the provider for reviews from other users.
- How will the software make things easier for you, your board, and your residents? Will those things ensure the software is worth the cost?
- How much can you customize the software to your needs?
These are a good framework to get you started as you select HOA software. You might also think about finding a company that will let you do a free trial because that’s one of the best ways to get a feel for the interface and usability.