Management Software For Self-Managed HOAs: How Can It Help?
Many homeowners associations across the country choose self-management over hiring professional services. This can prove difficult as the association grows bigger and more tasks start piling up. If that situation sounds all too familiar to you, consider getting software for self-managed HOA communities.
Benefits of Software for Self-Managed HOA Communities
It is easy to dismiss self-managed HOA software in favor of doing things the traditional way. But, with the ever-evolving landscape of technology, self-managed HOAs can quickly fall behind. One of the primary benefits of hiring a professional management company is access to the latest tools and software. Though, there is also software for self-managed HOA communities, specifically designed to fit their needs and make the board’s jobs easier.
Still on the fence? Take a look at the many benefits of getting software for self-managed HOA communities:
1. Access to Association Records Anytime
With using a program, you no longer need to flip through hundreds of physical records to find the one you are looking for. All you need to do is type in the record’s filename and locate it with just the click of a button.
If you have got a printer hooked up, you can print out multiple copies without missing a beat.
Physical records also take up a lot of space. As the years go by, you will need more and more space to accommodate new records and documents. Furthermore, it is not advisable to throw away association records once you are through with them. With software, you can keep all association records indefinitely, provided you have enough storage space either internally or in the cloud.
2. Easy Homeowner and Vendor Communications
Communication is an integral part of running an HOA community. Normally, professional management companies take care of homeowners and vendor communications. But, for self-managed HOAs, getting software is the way to go.
Management software allows you to print out or email customizable letters to homeowners. It can also keep track of every email you send so you can refer back to such data in the future. Being an HOA board member also means you take calls and emails from homeowners and vendors all the time. With software, you can take down notes easily and log in the number of hours you spend monthly on communications.
3. Efficient Request Tracking
Requests from homeowners can quickly accumulate and bury you under a mountain of paperwork. Worse yet, hard copies get lost or damaged. With software, you no longer need to worry about that.
Management software lets you track requests in real-time, making sure no request is left unanswered. Any architectural change requests can go right through the software. Your ARC committee can then review these requests and send approval or denial letters using the software.
4. Streamlined Processes (Violations, Invoicing, Collections)
As with requests, invoicing, collections, payments, and violations management can get lost in the shuffle. And, as any self-managed HOA board knows, inefficient processes can have serious consequences. For instance, late payments to vendors can lead to a strained working relationship or service interruptions.
With using management software, you can streamline all your HOA processes. That includes utility billing, payment processing, invoicing, and assessment collections. You can even track homeowner violations for effective covenant enforcement. With faster and more functional tools at your fingertips, you can look forward to a successful self-managed HOA.
5. Real-Time Accounting and Financial Reporting
By far, one of the most challenging aspects of HOA management is accounting and financial management. Not all board members have the background to deal with financial reporting. This is why management software can be beneficial to self-managed HOAs.
With software, you can enter your financial transactions and get real-time reporting. The software will take care of the books for you. You receive monthly reports, take care of bank reconciliations with ease, and get help with budget planning through historical data and projections.
Fraud and embezzlement are also growing concerns among HOA communities. Traditional methods make it all too easy to falsify financial records. A management software fights fraud with the incorporation of an audit trail. This lets you see who added or changed each record. With software, you can run your association with accountability and transparency.
6. Built-In Calendar
Far too often, self-managed associations fall behind on tasks and schedules. This is because HOA boards typically consist of community volunteers with full-time jobs and other priorities.
When juggling your personal and professional lives, it can be easy to forget about HOA activities. Unfortunately, a missed deadline can give rise to other problems.
Management software usually comes with a built-in calendar. From there, you can plot all the important tasks and deadlines you must remember. Some programs even come with alert systems to remind you of an upcoming event, such as a board meeting or spring cleaning day. With software, you can stay on top of all your duties and responsibilities without trouble.
In addition to being beneficial to the association, using a program can also be beneficial to the environment. By adopting a management software, your HOA can significantly reduce paper use. No more having to fill up forms in triplicate and then having those forms pile up needlessly in a corner.
Contrary to popular belief, using management software can actually save you money in the long run. The cost of the investment may seem high to you now, but keep in mind that your HOA will be using this software for many years to come. Additionally, by cutting back on paper use, you can also find more room in your budget.
The Best Software for Self-Managed HOA
Your HOA board may be reluctant to switch over to management software, and that is understandable. Switching to using a program and learning how to use it can take a lot of time and effort. But, the process is relatively simple if you put in the right amount of work. As you can see, the benefits of software for self-managed HOA communities clearly outweigh the time and cost it will require to start using it.
If your association is looking at HOA software options, consider Condo Manager USA. Contact us today and ask for a free demo!