Managing an HOA, Homeowners Association, is a huge responsibility. There are many challenges that come with the role of association manager and anything that can make your job easier should be grabbed with both hands. One such solution is owner association management software, a brilliant tool that covers all the aspects of managing an HOA and frees up your valuable time to take care of other aspects of the business.
Your New Best Friend
Once you have installed your association management software you will wonder how you ever managed without it. Your business procedures will be streamlined, which in turn allows you to organize your finances so much easier. Communication with other board members is greatly improved and simplified and the processing of maintenance requests is also expedited.
It doesn’t matter whether your HOA has 5 or 50 homes, a top end association management software will be your new right-hand man. Investing in a quality software gives you the luxury of customizing it to your own specific needs, and also that of your clients. Here are a few more reasons why you should seriously consider implementing AM software and how your business will benefit from it.
Real Time Financial Info
You can link your HOA management software directly to your business bank account/s. This allows you to monitor those accounts and get an up to date statement from your smartphone, laptop, tablet or PC. You may also be able to set up your software to send you instant notifications of any kind of financial transaction including, but not limited to, deposits, withdrawals and account credits. Having a live photo of your finances at any given time is a huge bonus as you can see at a glance how well you are managing your budget and keep track of any expenses.
Collecting payments such as association fees by check can be a real pain. Think of the time spent collecting them, sorting them, travelling to the bank and then having to wait for them to clear. This also makes the financial snapshots more difficult to track as you have to think about what is currently processing and what date it becomes available. Precious office time will be taken up on this task while you track who has paid, chase up who hasn’t, and try your best to balance the books. Your management software eliminates this arduous task completely thanks to the creation of your online payment portal. HOA members can pay their fees online or on their phone 24/7. Association fees can be both auto-scheduled and then auto-debited which makes life so much easier for everyone, a real win win.
Streamlining Work Orders and Repairs
Imagine being able to have one system at your disposal that allowed you to receive work orders instantly online and make this entire process paperless. Another huge plus from using association management software is that you will also benefit from now having the ability to sort orders into categories such as time received, difficulty and priority. Once these have been passed on to the appropriate companies who carry out the work, you can also track the progress in real time and so can the members, so they can see the status of their work requests without having to call you.