23 Jul Best HOA Software to Invest in Today, for Your Community’s Tomorrow
Managing your community during the modern era of automation and technology can be daunting at first. You and your Board likely have many questions, such as: “Which software is the best for my community?”, “Do they all do the same things?”, “Is this cost-effective?” or “Is it even worth it to pay for a service?”, among many others. All of these questions and any others concerning property management technology and software are entirely valid; it’s essential to ask as many questions as possible!
Today’s software available to communities and Boards was created to eliminate manual administrative duties such as communication with homeowners, managing and facilitating payments, updating contact information, or voting for Board members. When used properly, they can make your association much more effective and efficient in completing tasks and communicating with homeowners, onsite staff, and Board members.
Traditional HOA communities may still prefer to reach out to their homeowners directly or keep them updated on events by simply hanging up flyers throughout the community for residents to see. Using these traditional methods might be effective in some settings; however, they have their downsides: reaching out to homeowners directly takes up a lot of time and may result in a human error of forgetting to respond or even mistaking which resident a team member is speaking to. Likewise, distributing flyers throughout the community for upcoming events or announcements is costly and inefficient. Implementing a reliable and safe HOA management software can cut costs and time where it matters most.
Here are some of the top reasons why using software at all can be a huge benefit to your community:
HOA software can help streamline almost all processes. As stated before, automation and technologies are here to help increase efficiency and effectiveness in millions of different ways – one of them being HOA management! For example, various self-managed HOA software packages can help manage documentation, issue CC&R violations reports and letters, accept and track payments, manage accounting books, and so much more. As a result, you and your Board’s time will be free to focus on other things that require your full attention.
With HOA software, you can manage your homeowners or community association from anywhere. Practically all of the solutions on the market today are web-based, meaning that you can access the data and contact information you need from any computer or even mobile phone.
Documentation will be in one place. All key stakeholders will have access to it, meaning better accountability for everyone involved; no more losing documents or siphoning through hundreds of physical papers to find the one you need.
Better reporting. Software, and all of the data it provides, gives a better way to report on the association’s activities and use that information to strategize and plan for the community’s future.
These, along with so many other options out today, are just a few of the many reasons why switching to management software can step up your association’s game regarding communication, transparency, efficiency, and overall efficacy.
Currently, a large number of the top HOA management companies have chosen to invest in better technology for managing multiple communities. The success of your association and the management company relies on serving residents and Board members as best as possible – doing so is achieved through automation and leaning on technology to help wherever needed. Worth Ross Management Company (WRMC), for example, is dedicated to operational excellence and provides a suite of technology services to connect onsite management teams with the residents of each community. Customer satisfaction is the top priority of any excellent management company, and by utilizing a variety of technologies, WRMC can continually exceed expectations.
Not sure which software to use? Here are some examples of the top-selling technologies:
Village Management Software (VMS). VMS is considered the top accounting software for property management companies. This software stores unit and resident information along with all of the corresponding financial data, so you don’t have to worry about writing down every single piece of info related to each resident and hosting that data in a large folder.
BuildingLink. Also considered a top-tier software, BuildingLink is highly recommended for owner website and database management. It integrates with VMS to provide Board members, management staff, owners, and residents with information related to their accounts. Additionally, BuildingLink provides for the management of parking, storage, mechanical assets, visitor logging, and package receipt and delivery. The integration between BuildingLink and VMS makes database management very simple for companies like WRMC who manage 50+ communities all at once.
Office365. While this is not specific property management software, Office365 is used to power internal communication platforms and document management systems. WRMC utilizes Office365 for all of its internal needs, so every team member can access what they need. From document storage, collaboration tools, a virtual meeting platform, and more, your Board and onsite staff can have absolute confidence your management team utilizes a robust technology offering to ensure agility and efficiency in day-to-day performance.
Buildium. This is a comprehensive HOA management tool that allows management companies to take the management into their own hands – enabling users to track residents and leases, automate payments, send late fee reminders, and request on-demand reporting for various subjects.
Wild Apricot. This software eliminates the tedious administrative work with an all-in-one HOA software solution, giving users the ability to manage membership with application forms, create event listings and calendars, manage and track payments online, and even build a new website or connect a current site for management.
Communities. A sleek, all-in-one HOA tool for upscale communities. It is built on the cloud, making it easier than ever for all Board members and team members to access needed information from anywhere in the world. It also offers a community bulletin board to keep all announcements and important notes in one place, member directories, a shared member calendar, online payments for dues collection, and amenity reservations and management.
There are hundreds of other options on the market today besides those listed above that may be a better fit for your community. Ask your current HOA management company which software they currently use, or if you’re still searching for a new management company, be sure to ask them which software they prefer to use. Good management software is just as essential as the management company itself – and WRMC knows a thing or two about being an excellent association management company. Their team has hand-picked only the best software in the industry to serve their communities to the best of their abilities. So do your research, ask for help, and above all else, choose what is suitable for your Board, your residents, and your community as a whole.