Essential Information to Know About HOA-Specific Software

This article is about software applications that can help you manage your HOA more effectively and efficiently. Here, we will concentrate our discussion on the current programs that are being used by most of the homeowner management services and the challenges individuals face while searching for the ideal program for the community. If you have not hired a management company that offers bookkeeping and financial tracking services as part of its offered services, it is up to you to take care of your HOA's books and operations. With the advancement of technology on a day-to-day basis, things are changing for good and now it has become much easier to work with the tools and software applications all by yourself. In connection to what has just been said, below are essential information accumulated from existing users and industry experts.

A significant fraction of the users state that off-the-shelf items fulfill their purposes. They make use of QuickBooks Pro, they set it up so that every single unit acts as a customer and each owner becomes a job. This permits to keep a track of the new owners and to conveniently issue monthly statements.

HOA software applications can make a report required by the board as quickly and easily as possible. It also interfaces directly with the help of Outlook. QuickBooks can also be taken into the picture to make automated transactions. However, when you use all of these, monthly common charges are required as an input only once a year when the rates alter in value.

The older iteration doesn't have a violation tracker system for items like: weeds, palm trees, trimming requirements, and illegal dumping. Having said that, the new version does come with this feature. So, it is a good idea to purchase the latest version for an effective homeowner management service.

As understood from the reader experiences, if you plan to buy one of the tools created by a growing company providing software services particularly catered for condos and HOAs, it is a good idea to reconsider the requirements and the software's primary features before the purchase is confirmed.

Consider this blog and make use of homeowner management services with the help of the best HOA-specific software option.

Benefits Of Using Property Management Software

The routine tasks of property management involve various activities, including depreciation, taxes, surveying current market rates, tracking rent payments, and other urgent requests and complaints from homeowners owners. If you are renting or selling space of your property you will have to handle advertising vacancies, explain the value and feasibility of the location to buyers, calculate overhead costs, and of course, acknowledge maintenance requests. If you put your energy to cover these assignments on a sheet of paper, you may miss out on important information while evaluating the data. This is why property managers use HOA software to simplify their jobs and complete their assignments on time. The property management system will help you recover all the pending tasks that could be stuck in a long pipeline.

If you own a property-related business, digital property management will help you overcome all the problems before the deadline. Here are the key benefits of using HOA software.

Easy to use
You don’t need to learn coding or any programming language to operate the property management system. The application is designed for end-users so that any individual can use it by simply choosing the menu to perform the required tasks. Property managers, homeowners, and HOA board members can use it with basic knowledge of reading and writing.

Cost efficiency
When you own HOA programs, you can save money by reducing the cost of buying an extra hard disk or hire a local bookkeeper to perform several tasks. The software has a cloud storage system where you can store all your transactions and scheduled appointment calendars on one platform.

Round-the-clock access
HOA board members can integrate any type of file format in Microsoft Office Suite on HOA programs anytime. You can add documents, photos, newsletters, meeting minutes, community announcements, crime reports, and the HOA’s financial reports.  You can log-in at any time and access the same documents, as well as your secured, personal account.

Speed
Unlike a spreadsheet register, the property management software allows you to update all the data automatically anytime you need to. When you instantly generate comprehensive reports on demand, the software will automatically update your data change.

If you are looking for an effective solution to upgrade your billing and collection procedures, contact an HOA software provider. Such companies offer tools and support to keep an HOA running smoothly.

Features of a Homeowner Association (HOA) Accounting Software

Every homeowner association, more commonly referred to as HOA, needs a robust accounting system. To deal with challenges such as payment, work order processing, invoice payments, and frequent maintenance, association managers need such software applications. There are multiple accounting software in the market that can help association managers with everything they need.

The best accounting software for HOA has a lot of offerings over traditional bookkeeping. With HOA management accounting software and cloud-based applications for tablets and smartphones, general accounting tasks becomes much easier than ever before. There are also provisions available to create budgets, generate automated timely reports, simplify billing, and streamline an HOA’s system. Additionally, association accounting software also lets you track association finances with the help of an Internet connection.

Choosing The Best HOA Accounting Software

To get the right HOA accounting software, the first and foremost thing that you need to address is assess your client’s requirements. You can start by considering the needs of your clients’ associations. Make some useful observation with the figures as well as the numbers. How many homes are in their possession? What is the total number of residents? Does their association hire many vendors or just on-site landscapers? If your work involves a large number of a community, you should definitely consider a powerful and customizable association accounting software. 

Features of The Best HOA Accounting Software

• Make automated payments - With HOA management accounting software applications, home owners can make online payments anytime.

• Submit work orders - HOA members can submit their work orders online, which association managers can conveniently sort according to submission date, priority and category. The work orders can later be updated and assessed.

• Report various issues- Residents can put forward reports about noise violations, unauthorized construction and other pressing issues impacting the community.

• Reservation system for common spots- If a community comprises of a shared common area, like a pool or gym, a HOA management software can create a system for helping community members make reservations online.

• Keep online copies of documents - By doing this, you can save paper by making important resident documents, work order forms and other community guidelines available online in the HOA dashboard.

With the help of a fully customizable, dynamic HOA accounting software program, you can improve your company’s overall organization.

3 Reasons to Hire a Full-Service Property Management Company

Managing multiple properties not only demands painstaking attention but it’s also challenging. Cleaning and maintaining the properties on a regular basis, negotiating with clients, ensuring no misshapening take place, and a plethora of other things bring multiple hassles. If you try doing it alone, you may find yourself stuck in the thick of thin things. However, a full-service property management service can help you and take the burden off your shoulders.

If you are unsure about how a full-service property management service can help, here are a few things you need to know about:

You Earn More Money

Many property owners think that hiring a property management company is costly. However, they don’t realize that they will be earning more in the long run because of improved maintenance of the properties and better tenants. With clean properties, you attract better tenants who plan to stay for longer, eventually providing you with the best returns.

They save you time and hassles.

Managing properties without any assistance is time-consuming. Tracking rent payments, collecting late fees, dealing with complaints, renovating the property for new tenants, and many other tasks consume a wealth of time. However, with a full-service property management company by your side, you don’t need to worry about with these things. This way, you save time and efforts.

Better Tenants for Your Properties

Property management professionals know how to screen tenants from a pool of many. With their assistance, you can enjoy the luxury of better tenants who pay their rent on time and don’t wreak havoc to your property.

Bottom line

If you face trouble managing your properties and want to maximize your profit while at the same time saving yourself time and hassles, consider getting help from a full-service property management company.

If you are looking for a property and association management company, MGM Association Management is a progressive association management company you should head to. It works for every property owner to protect their property values and to govern the subdivision with their best interest in mind.  With a team of highly skilled professionals, they ensure a functioning association so that a volunteer Board of Directors can continue to build their communities.

3 Reasons To Seek HOA Management Services

An HOA or a homeowners association has a lot of tasks to do. From keeping a track of the accounts of all the homeowners to look at other services, an HOA is entrusted with all the responsibilities. Even though members try to fulfill their duties, there are times when they need professional supervision in difficult times. If you are in a similar situation, you need to seek homeowner management services to get it sorted.

Some of the reasons which will help you make an informed decision in hiring HOA management services are listed below.

1. Handle the finances

A professional HOA management service has professionals who have expertise in dealing with finances. They keep a tab of the regular finances paid and the costs payable by the homeowners at different times. As they have the experience to deal with all the matters, they will have all the information about how different techniques are to be handled. Some of the things they deal with include financial statements, loan applications, and reserve studies.

2. Deal with disputes

All of us would agree that dealing with disputes in a community is one of the most challenging things for an HOA. As you have to stay neutral when there is a dispute over any resource between two homeowners, you need professional homeowner management services to help you get sorted. The managers or the professionals know how to take care of the situation well and help them to use methods which can solve the dispute without any problems.

3. Maintenance of areas

One of the crucial tasks that an HOA management service undertakes is the maintenance of different areas of a home. This will include the cleaning or regular maintenance which needs to be looked at. The professional HOA management agencies have a team of managers who know how to take care of a home from start to finish. They will communicate with both the homeowners and HOAs to make sure that all the responsibilities are being taken care of.

To get all the tasks done efficiently, it is important for you to seek the best homeowner management services in your vicinity.

Best Features Of A Homeowners Association Software (HOA)

HOA is a non-profit organization that’s majorly tasked with managing the association’s assets. This organization must always think about the of the association and continuously work on increasing the value of the community which it serves. In order to function optimally, an HOA must place efficient processes and systems to govern its activities. This is where the homeowner’s association software or the self-managed HOA system comes into play.

Here are some of the most important considerations to make when looking for the best HOA software for your organization:

Administration

Managing members and users collectively on the HOA software you choose can be a breeze. Demographic data collection capability and permissions management are also necessary, due to the fact that they offer an easy way to control roles.

Event Management

This feature is a must for HOA administrators who need to organize and manage events on a regular basis. HOA software enables you to:
 

• Schedule and manage events (self-managed HOA system)

• Take care of the major event logistics

• Manage various programs

• Generate sub-pricing levels for rentals and programs

• Create and maintain an online event calendar

• Create and track community events from a single central location

Facilities And Management

HOA software can ease the maintenance and facility management, including the ability to track facility usage. There’s also a maintenance tracking feature that you can use to schedule and track maintenance task online. The great thing of this feature is that it offers automatic maintenance reminders and the ability to attach files.

Financials
HOA software can make accounting and bookkeeping processes more efficient by minimizing the administrative resources required for maintaining the books. In addition to providing you with AR (Account Receivable) collection tools, the software can also generate invoices and make accurate financial reconciliation reports.

Conclusion

Homeowner’s association management software, especially the self-managed HOA systems are a great utility for HOA managers and administrators. With the right HOA software, your organization can save a significant amount of time and use it somewhere else.

Once you have found the right HOA software for your organization by searching online or through recommendation from your peers, you will need to have a roll-out plan to make the transition process as smooth as possible.

The Best HOA Management Software System For 2019

Homeowner Association Software, short for HOA Software, is an all-in-one management tool which comprises of a website builder, online contact database, communications system (email), finance and payment system, and much more.

Almost all the administrative work can be alleviated with the help of a HOA management software, which can:
 

• Keep residents happy by giving them easy and secure ways to manage their payments, fees, and submit maintenance requests online. 

• Improve communication between members through automated invoices and maintenance requests.

• Give you an easy-to-build and update website where you can host a news section, notices, resources, member directory, an event calendar and much more.

•  Maintain a full contact database that is easy to search, filter, and update.

• Provide you with simple financial reports and analytic.

• Save money and time by automating many more administrative tasks.

A list of the some of the best HOA management software that you can use in 2019 is given below.

Bitrix24

This free community association management solution has a unique portal. This portal allows condo owners to discuss important issues, vote on various initiatives, participate in group chat or form user interest groups. All important notifications go through Bitrix24 activity stream which meansthat everyone is connected. The second part of Bitrix24 consists of 35+ business tools, typically used by the HOA management.

Bitrix24 also lets you have a paperless office.

Voyager HOA

This is a feature-rich and browser-based software system with all the necessary tools that you’ll need to efficiently manage condominiums and homeowner associations. Powerful, fully integrated, and intuitive in nature, Voyager HOA is the premier HOA management system in the industry. 

Condo Manager

Condo Manager is an integrated HOA software which is designed keeping in mind the community association industry. It can be used by professional management companies and also by the self managed associations. Its user-friendly design helps self-managed communities to find convenience with their data and even manage the association effectively.

These are some of the best HOA management software that you can get in 2019. There are also various other online association management companies that can be hired to keep an HOA running smoothly.