HOA board members spend a lot of time answering phone calls and emails from residents. They also waste a significant amount of hours on tedious tasks. Eventually, digital solutions, such as HOA Management Software have emerged and made processes easier. Such platforms allow board members to focus on what really matters by automating redundant tasks.
Read on to learn more about HOA Management Software and to discover the top ten features this year.
What is HOA Management Software?
First, let’s make sure you are clear about what HOA Management Software is.
It’s a digital platform that centralizes different functionalities to perform day-to-day HOA tasks. It allows you to communicate and engage with residents via different features in one single portal.
Usually, both residents and board members can access the portal. This boosts transparency and increases homeowners’ engagement in the community.
What are the features you must have to save time and money?
As mentioned above, HOA Management Software is equipped with different features and functionalities. They are all accessible in one portal and are usually separated into different sections. That said, not every software has the same attributes. Some may only tackle a very specific challenge the board faces while others offer a broader solution. This is why it is very important to understand what your current pain points are before implementing new software. Otherwise, you may end up very disappointed with your new tool.
In this article, we have gathered 10 features that every powerful HOA Management Software should have. These attributes can help HOAs of any size to save time and money. Ready to discover what they are?
1. Inspection Tool
According to a recent survey conducted by CAI, 80% of respondents encountered unanticipated and unplanned infrastructure issues over a recent three-year period.
By having frequent HOA inspections you can easily identify potential problems with your infrastructure. The inspector can report the findings in the software so the board, the residents, and the manager are informed instantly. It is the best way to keep track of projects but also to ensure ongoing communication with all stakeholders.
“Survey respondents found that homeowners and residents were more receptive and supportive of major infrastructure repairs when they were given the opportunity to learn—in advance—about the scope and costs of the project from experts”
An Inspection feature allows you to be proactive and avoid hazards. It also helps conduct HOA reserve studies.
2. Package tracking
The pandemic has drastically changed the way we consume goods and services. Nowadays, a lot of people order products online. This can sometimes be a problem in gated communities. Having a tool that helps notify residents easily when a parcel arrived makes everything easier. It reduces the risk of lost packages and most importantly saves time for everyone involved.
3. Managing amenities and common areas
Here again, the pandemic has changed the way we use common spaces. Social distancing and covid safety measures have made it difficult to use certain amenities in a carefree way. Homeowners need to follow certain rules and board members need to make sure they are respected.
A lot of communities struggled in 2020 and last year with re-opening HOA facilities. Those who had an amenity reservation system were able to re-open their common spaces safely by allowing bookings and communicating rules frequently.
4. Community Social Networks
Homeowners in community associations usually like to socialize. That is one of the main drivers to live in a homeowners association. Social networks are one of the best places to do that. You can chit-chat and build connexions easily. However, some residents are reluctant to participate in HOA social media pages. That is because other residents may be able to see their private profile and they don’t feel comfortable with that. This is totally understandable. This is why some HOA Management Software have an internal social network feature where homeowners can interact only among themselves. This fosters a sense of community without having to share social media private profiles.
This community social network becomes the perfect place to post about missing pets or yard sales.
5. Payment and Accounting
Managing the finances of an HOA can get quite complex. If you don’t keep track of HOA dues and payments it can drastically affect your operations.
An HOA Management Portal usually provides financial-related features that allow you to track income and expenses with the balance sheet. Users can create, send invoices, issue financial reports, run payroll and hold meetings with real-time numbers.
Better still, some platforms allow you to collect HOA fees online and send automatic reminders to residents that forget to pay.
6. Maintenance requests
Homeowners should inform the board whenever they notice something needs repairing or cleaning. Usually, residents can send maintenance or service requests by letter or by email. However, this outdated process has many flaws. The board sometimes misses these requests or forgets to properly follow up with them. Without a clear process in place, residents may also not be sure where, how, or to whom to send these requests.
A maintenance request feature allows homeowners to log into the portal and add a new solicitation in just a few clicks. All demands are centralized in one location and are routed to the right board member. The person in charge can then easily keep track of these tasks and change their status to ongoing or completed. This boosts transparency and accountability.
7. Surveys and polls
Conducting surveys regularly is the best way to get useful feedback from your residents. When you ask homeowners about their opinion, they feel heard and this increases their engagement. This is one of the best ways to bring a positive change to your community.
Unfortunately, drafting an HOA survey, mailing it to residents, and collecting the results is tiring and time-consuming. But not when you use an online survey and poll functionality. This solution allows you to create surveys within the system and notify residents instantly. Residents can vote or reply and the board can see the live results. You can also share it with the rest of the community.
8. Multi-channel communication
All residents must be informed about what is going on in their community. But since different generations may live in the same HOA, residents usually have different preferences when it comes to where they receive information. The use of different HOA communication tools makes this easier. Instead of sending a message only via email, for example, you can send the same information via SMS, notice, smart calls, and email. This increases the chances of your communication being seen. HOA Management Software allows you to send instant messages via different communication channels in one portal. This means you don’t need to log in and off different platforms.
Another trend that keeps rising since the beginning pandemic is hosting virtual meetings. By hosting virtual or hybrid meetings more people can attend which increases the participation rate. This also fosters residents’ engagement and helps build a more democratic community.
According to a recent survey Vinteum conducted, 90% of respondents agreed that they have communication issues in their communities. HOA communication tools certainly help solve this problem.
9. HOA Online Documents Storage
Paper documents can easily get lost or damaged. Many board members complain about the time they waste trying to locate specific files.
Storing documents digitally makes information easy to locate for everyone. Homeowners and other stakeholders can easily access important information. This guarantees that all homeowners are well-informed. But it has many other benefits:
- Making board transition easier
- Greater transparency
- No risk of damage
- Reducing HOA violations
- Building a more sustainable community
10. HOA Calendar
HOAs have many events. Homeowners gather regularly in HOA meetings to discuss finances, governances, rules, and much more. They also host gatherings like barbecues or Halloween parties. Informing residents about these events is a big task. But not if you have an interactive calendar that everyone can access.
By adding important dates and deadlines in the shared calendar all residents can access it. This way, no one forgets about it and no one can complain saying they didn’t receive the invite.
You can also add the dates when service providers come to do repairs or maintenance.
For those who prefer a printed calendar, you can also easily print it by taking a screenshot or by printing the page.
Bonus: HOA App and HOA Website
Some companies make their software available both on desktop and mobile. This means you can use an HOA Management App on your phone or tablet. This is the perfect solution for people that are often on the go or who like to travel. As a board member, you can communicate and manage from anywhere by using an HOA app. As a resident, you can stay informed easily with just a few clicks on your mobile device.
With HOA Management Software, building an HOA website is easier than it has ever been. Some providers offer HOA website templates that you can easily customize.
Final points
HOA Management Software offers many different features and functionalities. Each HOA has its reality and issues. So you need to make sure to identify your gaps and be clear about what you need before you settle with one. Luckily, software providers show you how the platform works during a free demo. That is the best moment for you to see how it works in action and to ask all of your questions. Some even offer free trials where you can try the portal and see if it meets your needs.
Click below to request a free demo of our all-in-one powerful HOA Management Software
