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.