Many homeowners’ associations today work with a management company to take the burden off of residents. However, certain associations choose to allow the board to handle all matters without outside help. Those associations that fall into the second group often invest in self managed hoa software to manage necessary tasks. What should an association look for when choosing this software?
Financial Management Features
Most HOA boards say the hardest part of running the association is financially managing it. However, this task must be completed. For this reason, every board should choose a software program that makes financial management of the association easy.
The option of hiring an accountant or management firm remains available, but using the software and handling these tasks within the board allows for more control over the association’s finances.
Choose a program that offers bookkeeping features and financial reporting. It should include elements that allow for cash flow management, invoice processing, and bank reconciliation, among others.
Look for a program that allows for online payments, as this is what many people prefer today. It streamlines the payment process for the board, so everyone wins.
Communication Features
The HOA board needs to be able to communicate with members quickly and easily. The right HOA management program allows it to do so. This eliminates the problems that may arise with bouncing emails or snail mail that is never delivered.
Consider doing a regular newsletter to keep all members informed. Many programs today come with templates and editing tools to make newsletter creation effortless. In addition, the program may offer the option of establishing a website for members, one that includes a calendar and an announcement board, among other things.
Covenant Enforcement
The HOA board takes on the task of enforcing the association’s rules. For example, board members are tasked with conducting inspections to identify violations, notifying a homeowner of these violations, tracking the progress of the needed repairs or remedies, and handling reports. This task tends to be time-consuming.
When choosing a software program, look for one that offers a mobile app. This allows board members to input information while on the go. They can take pictures of violations, monitor the progress of the repairs or remedies, document contact with property owners, and more.
With this type of program, the board can show that it enforces the rules equally and consistently. This will reduce complaints related to selective enforcement.
Maintenance Tasks
A homeowner’s association must maintain all common areas of the community. It is easy to overlook one or more tasks, particularly when board members don’t live or pass by certain areas of the association’s property regularly. With the help of HOA software, the board can ensure all common areas get equal attention.
Every area can be tracked using this feature to see when it was last inspected. If a service request must be put in, the board can track the progress of this request, and fulfill work orders. In addition, some programs allow the board to email vendors from the program and schedule preventative maintenance. Having this information makes the board’s job easier and ensures there are fewer maintenance-related complaints from residents.
Consider investing in HOA software today. Self-managed boards find this tool to be invaluable. For those boards that work with a property management firm, the software allows the board to oversee the management firm and ensure it is doing its job. Learn more today about this program and its many benefits, as many HOAs find it will be of great help to them.
