Does Homeowners Association Management Software Save Money?
Homeowners Association Management Software 101
Homeowners Association management software is designed to simplify the complex and often tedious task of maintaining a homeowners association. The main purpose of this type of software is to reduce the workload of the association members, increasing the efficiency of the association as well. This type of program allows you to enter data into the HOA system such as property information, financial information, and other membership-related information. It also helps the members track their own records such as renewal dates, due dates, and other membership-related information.
There are many benefits of homeowners association management software that go well beyond just reducing the workload. Some of the benefits are increased organization, cost-saving, more accurate information and faster response times. In addition to the reduced workload and increase in accuracy, homeowners association software is also designed with community standards in mind, especially when it comes to meeting the requirements of the United States Department of Housing and Urban Development. This is important because community association rules and regulations differ from state to state.
HOA Management Software Facilitates Better Organization
One feature that is common among homeowners association management software programs is the ability for the users to store data regarding meetings, general issues, upcoming events, and resolutions. One important benefit of this is that it makes creating meeting minutes easier since you will already have all of the details up-to-date. When an upcoming event occurs or a rule is about to be revised, you will be able to access the entire record, back then and now, to see if you need to revise your rules or make any other changes. Being able to do this is crucial to having a smooth and successful homeowners association.
Another advantage of homeowner association management software is that service providers can use the data to suggest certain actions for the association’s benefit. For example, if a certain group of homeowners has a high turnover rate, the service providers can suggest that the association should create a better advertising strategy. When a homeowner moves out, they often do not leave a forwarding address, so the service provider can suggest to the association that they find a new neighbor who does have a good phone number and has a driveway that is easy to get to. In addition, by using the system’s tools, service providers can suggest that the association take on larger repairs or maintenance projects. By using this tool, service providers will be able to suggest things that the association will benefit from and not have to worry about the homeowner contesting the suggested action.
Software Tools for Associations that Matter
Some other tools that come with some property management software solutions include the ability to share documents. Since everyone in the association uses the same computer, a document sharing option can save time when trying to share information between different members. You can also send documents directly from your computer to another member without sending it through the mail. This saves time because of the lack of extra postage and possible repetitions of the same message.
Pricing for these types of systems usually includes the installation of a customer relationship management application and email messaging. If you are unfamiliar with CRM software, you can learn more about it and how it works by reviewing online tutorials or reading discussion boards that discuss CRM software and its features. Since many homeowners associations charge for their services, you may want to compare your pricing options to those of other communities that use the same document storage and contact information management applications. By researching pricing and looking at different communities, you will be able to identify which features may work best for your organization and your specific needs.
Specific Features That Benefit Your HOA
As you research each community, you will want to take a close look at the document storage and contact information management software. By comparing your top options, you will be able to quickly identify which features are most important to you. The price will also vary depending on the number of features that are available with each application. Your community may have similar features but it may also have unique features that make it more appealing to you. For example, a community that offers Vinteum document storage may require a monthly fee and may not provide access to other web applications.