What are online payment methods for HOA dues?

The online payment methods for HOA dues are credit card, debit card, automated clearing house (ACH), and eChecks.

Why is HOA management software customer support important?

HOA management software customer support provides easy troubleshooting for common technical issues and 24/7 online support. Customer support is also designed for seamless integration with your HOA management software, website, and other online accounts. HOA management software customer support can increase the association's productivity and efficiency by helping homeowners address their concerns on their own. You can also choose from different customer support options and find the best one for your association.

What are the benefits of automatic invoicing for HOAs?

Automatic invoicing can lower operating expenses, reduce processing times, reduce invoice errors, help save the environment, improve productivity, lessen service interruptions, and improve financial reporting.

What are unfair condo decoration rules for the holidays?

Decorating for the holidays is a classic American tradition. As such, condo associations should think twice about implementing unfair and restrictive holiday decoration policies. For example, prohibiting religious holiday decorations could lead to discrimination lawsuits. You may also want to define what decorations are considered tasteful and obnoxious to avoid misunderstandings with the condo owners.

How can an HOA software help with accounts receivable?

With an HOA software, you can manage multiple communities, customize assessments and fees, save time through automated processes, make collections and follow-ups easy, generate reports quickly, and take advantage of an integrated accounting system.

What is the best property management software?

When deciding on which software to use, it is essential to examine the features and functions each prospect offers. Some of the best commercial property management software come with a complete set of tools and features, such as: accounting tools, analytics and reporting tools, automatic alerts, budgeting, communication tools, maintenance management, mobile applications, online payment processing, online user portals, scheduling tools, and third-party integrations.

What are the features of a good commercial property management software?

Some of the best commercial property management software come with a complete set of tools and features, such as: accounting tools, analytics and reporting tools, automatic alerts, budgeting, communication tools, maintenance management, mobile applications, online payment processing, online user portals, scheduling tools, and third-party integrations.

What are the benefits of a commercial property management software?

With an end-to-end commercial property management software, you can expect fewer errors or loss of data, automated tenant management, streamlined and faster cycle times, more efficient financial management, and easy access to KPIs and reporting. Plus, it is a more sustainable alternative to manual or disjointed processes.

How does HOA software make billing and payment processing easier?

HOA billing and payment processing have many benefits. It provides homeowners with more convenient payment options, allows for easier payment tracking, automates the HOA billing process, has full-service accounting features, and provides real-time financial reporting. It is also easy to use and compatible across different devices.

admin, Author at HOA Management Software

What Is A Bank Reconciliation? And How Can An HOA Management Software Help With That?

admin on March 11, 2021

Managing the finances of a community can be taxing, and bank reconciliation is one of the more tedious tasks associated with that. Discover the process of reconciling your bank statements and how an HOA management software can help.

Understanding the Bank Reconciliation Definition

What is a bank reconciliation? To put it simply, bank reconciliation is the act of matching up your bank statement with their corresponding cash account titles. The purpose of bank reconciliation is to verify whether these two records coincide with one another and identify any differences. If there are discrepancies, it is imperative to then make the appropriate changes to the accounting records. This is typically accomplished using bank reconciliation journal entries.

When preparing your bank reconciliation statement, it is important to keep in mind that the ending cash balance as it appears on your statement and as it appears in your accounting records may be different. In fact, these two records rarely match up right down to the decimal point.

This is due to a number of reasons. For one thing, you may have deposits that are still in transit, which means you have already recorded them in your accounting records but they have yet to reflect on your bank statement. Other reasons include overdraft fees and bank service fees that you have yet to record.

How to Do Bank Reconciliation

Once you receive your bank statement, it is time to start the process of reconciliation. First, take a look at the ending cash balance as it appears on your bank statement. Take that amount and add any deposits in transit. Then, subtract any outstanding checks you have — these are checks that have yet to clear. If there are any other items you must add or deduct, this is the point to do them.

Now, it is time to move over to the ending cash balance as it appears in your accounting records. From this amount, deduct any NSF checks, service fees, and penalties. Add the amount in interest earned (if any), and this will give you the HOA’s ending adjusted cash balance. Take note that this amount should now equal the adjusted bank balance.

For a better understanding of the process, take a look at the bank reconciliation example below:

When to Do Bank Reconciliation

A bank reconciliation should be prepared regularly for all of the association’s bank accounts. This is to help guarantee that the HOA’s cash records have no errors. Failing to reconcile your association’s bank accounts can result in a number of problems. For instance, you might end up with a lower cash balance than anticipated. This ultimately leads to overdraft fees or bounced checks. Another thing this process can help with is identifying potential fraud within the association.

At a minimum, your association should reconcile its bank accounts after receiving each statement. This usually happens at the end of each month. The statement will include the beginning and ending cash balance of your association’s bank account as well as all the transactions that occurred during the past month.

Ideally, though, bank reconciliation should take place every day so that you can better track your HOA’s finances and immediately spot any anomalies such as unauthorized debits. Most banks allow you to access your account information through their website.

If you barely use your HOA’s bank account, you can get away with a monthly reconciliation instead of a daily one. But then, if the bank account sees little to no activity per month, it may be wiser to simply close the account altogether and transfer the remaining funds to an account you do use regularly. This eliminates the need to reconcile multiple bank accounts.

Make the Process Easier With an HOA Management Software

Manually reconciling your bank accounts is often a time-consuming and tedious endeavor. But, it remains an integral part of managing your association’s finances. Thankfully, the advent of HOA management software has made the process much easier.

Fast and Convenient

An HOA management software usually comes with a bank reconciliation system, allowing you to reconcile bank accounts in one easy place.

Enter the bank reconciliation software or module and check off all the applicable uncleared checks and deposits. After that, you can simply enter any expenses you have yet to record but can be found on your bank statement.

This includes bank service fees, overdraft fees, and the like. Then, enter the ending balance as it appears on your bank statement.

At this point, you only need to compare the two balances. If they match, simply post the changes and the job is complete. If not, go through the checks, deposits, and fees again to see whether you missed anything. The best part about this type of software is that most of the work is done for you. Plus, you can manage an unlimited number of bank accounts without fear of mixing them up.

Streamlined Methods

Because everything can be performed from one screen, HOA management software gets rid of any extra steps. After completing the reconciliation process, you can also scan the statement and automatically include it with your monthly reports.

There is also no need to keep physical records of every statement, which is what usually happens when the process is done manually. With an HOA management software, you can pull up any past bank reconciliation records in one easy go.

All-in-One Solution

The beauty of HOA management software is that it boasts complete functionality. That means you gain access to a multitude of accounting tools such as budget planning, financial report generation, and the like. Most programs already come with a bank reconciliation template, too.

Apart from that, other non-accounting features are also made available to you. Typical features you can expect from management software include service request management, CC&R violations management, architectural request management, communication tools, and more.

A Necessary Task for Every HOA

Whether you are a board member overseeing a self-managed community or an HOA manager in charge of multiple communities, bank reconciliation can be a pain to handle. Still, it is not like you can skip the process altogether since it is absolutely critical in ensuring your accounting records accurately reflect your cash balance.

Every homeowners association can benefit from the use of HOA management software. And, for that, Condo Manager is your best bet. Call us today at (800) 626-1267 or contact us online for a free demo.

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How Can An HOA Management Software Help Delinquent Accounts

admin on February 28, 2021

Just like any organization, homeowners associations are no stranger to bad debt. When homeowners fail to pay their dues on time, it results in delinquencies. But, did you know that management software can help you with HOA delinquent accounts?

What an Increase in HOA Delinquent Accounts Means for Your Community

A homeowners association is responsible for maintaining a community. It does this by providing services and amenities as well as enforcing covenants and rules. But, the money used to fund these things must come from somewhere. And, for HOAs, it comes from the homeowners themselves.

Associations regularly collect dues from members and use the money to maintain the neighborhood. The HOA board, comprised of volunteer members elected into their positions, is in charge of determining the dollar amount of these dues by preparing a budget and anticipating the upcoming year’s expenses. And, ideally, all homeowners would pay their dues on time and in full. Unfortunately, that is not the case with all associations. In fact, many HOAs have delinquent accounts.

But, what does it mean when an association experiences an increase in delinquent HOA dues? It can’t really be that bad, can it?

Since HOA dues are an association’s primary source of income, if you take that away, then the HOA won’t have enough money to pay for operating expenses. The HOA won’t be able to maintain the community properly, which can lead to decreased curb appeal and plummeting property values. In the end, it is the homeowners who will suffer.

The HOA board might try to recoup this loss using other means just to cover expenses. More often than not, this either involves raising dues the following year or charging special assessments. Neither of these options will go over well with homeowners. If the governing documents permit, an association may even take out a loan to pay for more urgent costs. But, loans bear interest, and the association will still need to take money from dues or special assessments just to pay off the loan.

How an HOA Management Software Can Help

All things considered, HOA delinquent accounts are never a good thing. They can signal something much direr, economy-wise, and can transfer most of the burden to paying homeowners. While it is clear that HOA delinquency is something all associations must steer away from, this is often easier said than done.

As a member of your HOA board, it is only normal to rack your brain trying to think of ways to prevent or remedy HOA delinquent accounts. Believe it or not, though, an HOA management software can help you with this problem. Here are four ways an HOA management software can address delinquencies in your community.

1. Send Out Automatic Notices and Reminders

Homeowners are busy. Between 9-to-5 jobs and their personal lives, they don’t always remember to pay their dues on time.

While you can argue that it is their responsibility to schedule it in their calendars, as a board member, it is your job to nudge them in the right direction. The problem is, sometimes you forget to send notices, too.

With an HOA management software, this problem practically solves itself. Most management programs allow you to send automated notices and reminders to your membership. All you need to do is plug in the details and set the schedule. Then, let the software do everything for you. Not only does this lighten your workload, but it also minimizes delinquencies because homeowners don’t forget about the deadline.

2. Convenient Payment Methods

It is one thing to remind members to pay their dues on time, but you also have to make it easy for them to do so. Many associations still use the traditional method of asking owners to mail their checks in. This approach, though, is often time-consuming and inconvenient for owners.

An HOA management system can step in and make the payment and collection process much more streamlined. Instead of mailing checks to the association, homeowners can simply pay their dues online. An HOA management software usually comes equipped with various online payment methods, including but not limited to credit cards, debit cards, ACH, and eChecks. When you make it easy for members to settle their dues, you can expect lower delinquency rates.

3. Track Delinquencies

How are you supposed to know how your HOA delinquent accounts are doing if you don’t track them? Sure, you can do it the old-fashioned way by recording them using pen and paper. You can even use a spreadsheet to do this. But, every time an owner settles their delinquent dues, you have to manually update your file.

Many management software offers easy delinquent HOA account tracking. This lets you check how many homeowners are delinquent, how much they owe, and how long they have had outstanding dues. Additionally, you can deduct their payments directly from their delinquencies, eliminating the need for you to deduct it yourself and manually updating your records.

4. Easy Escalation

Although the penalties for delinquent dues can vary from association to association, it usually follows a general process that starts with sending a demand letter along with a fine. If a delinquent homeowner still fails or refuses to settle their unpaid dues after that, the association can set up a payment plan. Some states, like Colorado, even require them. The usual next steps in the escalation process are as follows: Suspend member privileges, refer to a collection agency, file a lawsuit, place a lien, and foreclose.

If your association has a lot of HOA delinquent accounts, it can be difficult to know exactly where in the escalation map each one falls under. If you jump a few steps outlined within your governing documents, you may even find yourself in legal trouble. To avoid this and remain consistent with your policies, use HOA management software. This type of software allows for seamless escalation. Some even come with collection agency integration, making for easy referral and tracking.

The Benefits Are Apparent

Clearly, HOA delinquent accounts put homeowners associations at a disadvantage. They have a negative effect on your bottom line and can force your board to make unpopular decisions such as raise dues or levy special assessments.

More importantly, they are unfair to homeowners who do pay their dues on time. If you want to reduce delinquencies in your community, or at least have some control over them, then it is time to invest in HOA management software.

Self-managed communities can highly benefit from HOA management software, but looking for the perfect one is not always easy. Luckily, Condo Manager comes with all the features you will ever need. Call us today at 800-626-1267 or contact us online for a free demo.

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What Payment Methods Should Be Made Available For Homeowners?

admin on February 4, 2021

“How do I pay my HOA fees?” Homeowners often ask this question, but many HOAs only offer the same traditional method. But, there are a few different payment methods for HOA dues that associations can start adopting.

Convenient Online Payment Methods for HOA Dues

Many homeowners find difficulty with the current payment methods their HOA accepts. Typically, HOAs use traditional payment methods such as sending checks via mail or physically collecting homeowners association payments door-to-door. While such methods have proven effective and reliable, there are more convenient ways for dues payment. One such way is allowing homeowners to pay dues online.

Many payment providers offer online HOA dues collection services. These providers achieve this by connecting to acquiring banks, payment networks, and credit cards. As a result, homeowners can pay their dues conveniently right from their smart devices. But, what payment methods for HOA dues are available?

1. Credit Card

“Can I pay HOA fees with a credit card?” You have probably been asked this question by a new homeowner in your community.

If you already allow credit card payments, that’s great. But, if you have yet to offer it, now is the time to consider doing so.

Basically, using this payment method, any homeowner with a credit card can pay their dues online. Your HOA can start accepting online credit card payments with the help of credit card processing providers.

Some homeowners pay HOA with a credit card via the phone. This involves receiving calls from homeowners, asking for their credit card information, and manually entering the numbers in your system. Although there are HOAs that do this, it brings up the issue of security. Online credit card payments, on the other hand, use data encryption to protect homeowners’ financial information.

2. Debit Card

Credit cards are great, but they create debt for homeowners in the future. Sometimes, homeowners only want to spend the money they already have. This is where debit cards come into play.

Your HOA can start accepting debit cards as a payment method for HOA dues. Debit cards are essentially cash payments without the use of actual, physical money. Similar to credit card payments, your HOA can work with a debit card processing provider to make this happen.

3. Automated Clearing House (ACH)

ACH involves the use of electronic credits or debit transfers so that homeowners can make HOA payments online straight from their bank accounts. Many HOAs favor this method over the first two because it allows for automatic recurring payments. This works great for subscription-type transactions like monthly HOA dues.

Additionally, ACH eliminates the trouble for homeowners having to remember to make payments online themselves. Since it is automatic, all they need to do is set it up and let it work on its own. This can significantly reduce your HOA’s delinquency rate, too.

The only problem you might encounter with ACH is hesitance from homeowners. People are scared to give their bank information to the HOA, but it actually does not work that way. The bank gets their bank account information. Make sure to explain this clearly to homeowners so that you don’t encounter pushback.

4. eCheck

When it comes to electronic payments for HOA dues, you can also use eChecks. This will also require homeowners to have a bank account, though, and provide you with the details. You also need the check number to make it work.

The Use of HOA Websites and Resident Portals

If your association decides to accept HOA online payments, you will need a platform from which to accept credit and debit card payments. Again, some HOAs allow such payments by manually entering the card details over the phone, but that is a security risk. The best way to collect HOA dues online is to set up an HOA website.

You can choose to hire someone to create the website for your homeowners association. But, there are also many online providers that offer websites as part of their services. These services usually come with a fee, either recurring or one-time, so it is a good idea to evaluate and adjust your budget accordingly.

Alternatively, many HOA management companies have online portals that residents can log in to. In addition to making online payments, homeowners can use such portals to file requests, submit complaints, and even download important HOA documents. If you already have an HOA management company, ask them if they have a resident portal. But, if you don’t have one yet, consider looking for one that offers it.

Bank Charges and Processing Fees

When it comes to how to pay HOA fees online, credit cards and debit cards certainly offer convenience. But, they also usually come with bank charges for each transaction. This is where ACH and eChecks have the advantage. Whereas credit and debit card payments charge a fee to the holder, ACH and eCheck payments are typically free.

Homeowners associations should also turn to their governing documents for guidance. If your governing documents allow you to charge a fee for accepting dues payments online, then you can certainly do so. But, make sure you inform all homeowners of this fee and how much it will cost. Moreover, your HOA should not use this as an opportunity to earn a profit. You should only use the fee to cover the cost of processing.

In addition to your usual communication channels, it is also worth disclosing the fee on the payment page itself. Let homeowners know that they need to pay the fee if they want to use online payment methods for HOA dues. That way, by proceeding with the transaction, they are agreeing to pay the fee.

How an HOA Management Software Can Help

Plenty of management software providers also offer online HOA payment processing as part of their product’s features. This includes payments made via credit card, debit card, and ACH. With ACH, all you need to do is link homeowners’ bank information to their accounts. From there, homeowners association dues collection can be done with just a few simple clicks, automatically generating a NACHA upload file that your bank can use to process the payments.

Additionally, with HOA software, you can streamline accounting processes and monitor your bank accounts all from one place. Tasks such as bank reconciliation, financial statement preparation, check printing, and general accounting are made easy.

Everyone Can Benefit from Online Payment Methods

For homeowners, dues payment can be a headache, especially if they need to physically mail in their checks or deposit their payments. Luckily, your HOA can make the entire process more convenient with the use of online payment methods for HOA dues. It works out great for your association, too, because collecting dues becomes less complicated. You might even reduce your delinquencies.

While HOA management companies can help with dues collection, not all associations can afford their fees. Investing in HOA management software, though, is a good move and will pay for itself in the long run. In addition to sophisticated management features, Condo Manager makes online payment processing a breeze. Call us today at 800-626-1267 or contact us online for more information. You can also request a free demo!

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How Important Is HOA Management Software Customer Support?

admin on January 4, 2021

HOA management software is a major investment for many associations. Board members often choose a program that fits their budget and resources. However, to make the most of this investment, it’s important to have features that will help your community become more productive and efficient. One such feature is customer support. Here’s why HOA management software customer support is important.

Basics of HOA Management Software Customer Support

HOA management software has become a staple in many residential communities. The computer program takes care of the tedious administrative tasks that most associations deal with on a daily basis. For instance, sending invoices, responding to homeowner requests, tracking payments, and scheduling maintenance work takes up a lot of time.

With these day-to-day tasks taken care of, board members and managers can spend their time focusing on more pressing community matters such as financial planning and capital improvement projects.

HOA management software may require upfront or recurring costs, but it is a worthwhile investment. As administrative tasks become automated, HOAs can increase their efficiency and productivity levels.

When choosing an HOA management software, board members will choose features that are most essential to their association. The most popular features include accounting and financial management, communication tools, online payment systems, an easy-to-use interface, intricate reporting capabilities, and so on. However, one feature that many associations do not seem to consider is customer support.

Why Is HOA Software Customer Support Important?

HOA management software can make your life as a board member so much easier — but only if you’re able to use the program properly. Adapting to new technology can be confusing, especially as you come across technical issues. Customer support is essential because it allows you to maximize the benefits of your HOA management software. Here are the benefits of HOA or property management software customer support.

1. Easy Troubleshooting for Common Technical Issues

It will take associations some time before they can be truly comfortable with their new HOA management software. You may experience a lot of technical issues as you transition your manual operations to a digital system. There will be times when you won’t know how to deal with even the most common issues.

With customer support, HOA board members can easily find solutions to their problems. HOA management software customer support will already have documentation and guides that address common issues. A customer support agent can walk you through the necessary steps for troubleshooting your management software. Thus, you won’t have to waste time aimlessly tinkering with the program. You can deal with technical issues in a matter of minutes.

2. 24/7 Online Support for HOA Management Software

One of the best advantages of customer support is being able to receive help any time that you need it. Since board members also lead busy lives, some can only work on association matters at night. If you encounter any software issues late at night, you may have to postpone what you are doing until the next day or when business hours resume.

With 24/7 online support, there will always be someone who can assist you with your software issues. This is extremely beneficial for board members who are operating in a limited time. Customer support can help you become more productive because there won’t be technical issues getting in your way.

3. Seamless Integration with HOA Management Software

Customer support is designed for seamless integration with your HOA management software, official website, and even social media accounts. Customer support can access a homeowner’s request history, track pending tasks, access documents and reports, monitor homeowner and board communications, and so on. When customer support interacts with homeowners and board members, they will be able to draw upon relevant information to provide you with the best possible solution.

4. Assist Homeowners with Their Software Concerns

HOA management software customer support isn’t just for board members. Homeowners can benefit from this feature as well. If homeowners encounter problems with the online payment system or members portal, they can contact customer support for assistance. If you have a self-service option, homeowners can also resolve their problems on their own. The customer support feature will provide them with helpful guides and FAQs.

This helps lighten HOA boards’ workloads as well. You won’t have to constantly deal with calls, texts, or emails from homeowners who are having problems with the HOA management software. The time you spend dealing with these concerns can be better spent on other HOA management tasks.

5. Different Options for HOA Management Software Customer Support

Just like HOA management software, customer support comes in many different forms. You can choose an option that is best suited for the needs of your association. Here are the different types of customer support:

Phone Support: This is the most traditional type of customer support where a live customer service agent will help you with your concerns.
Interactive Voice Response: This option utilizes artificial intelligence to respond to your concerns. Based on your query, the IVR representative can access useful information or transfer you to a live agent.
Live Chat Support: Live chat can help address your concerns in a very timely manner. It’s a great alternative to phone support.
Email Support: Email may take longer than other customer support options. However, this is useful if you have long queries or complex issues as you have the medium to write down all relevant information.
Self-Service Support: Self-service allows you to explore different avenues and find the best solution to your problem. Since there is minimal interaction, this option is best for those who have non-urgent concerns.

Consider the Added Benefits of HOA Management Software Customer Support

Choosing HOA management software can be tedious and time-consuming. Board members want to find the best program for their association but also want to keep costs as low as possible. Many associations go with the bare minimum for this reason. However, since you are already making a major investment, why not maximize its benefits? With HOA management customer support, you will have the assistance you need to deal with minor to complex issues. You’ll be able to better navigate the ins and outs of your HOA management software, ensuring the highest levels of productivity and efficiency.

Ready to take the next step? Feel free to contact the Condo Manager team today! Call us at (800)-626-1267, email us at sales@condomanagerusa.com, or contact us online for a free demo or to learn more about our HOA software solutions.

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How Can An HOA Email System Improve Communications In The Community

admin on January 4, 2021

Communication will always remain an essential part of managing a homeowners association. One of the ways HOA boards stay in touch with residents is through newsletters, though, it is now an outdated form of communication. Make the switch to an HOA email system to help improve communications within your community.

Which HOA Email System Will Work for Your Community?

For the longest time, homeowners associations have been using printed newsletters to spread information and make announcements en masse to the community. Although there is no law that requires HOAs to send regular newsletters to its members, it has become a reliable form of communication.

In the information age, though, it no longer makes sense to print out HOA newsletters and send them individually to homeowners. Organizations everywhere, from large corporations to small businesses, are making the shift to a digital platform. HOAs are not exempt from this.

There are many benefits to going paperless. With emails, it is no longer necessary to print out hard copies and mail them to individual homeowners. This cuts back on printing and mailing costs.

Additionally, email systems offer prompt delivery, which means you can disseminate information immediately. Other than that, email systems also save time on designing, allows you to rectify mistakes at once, are generally more interactive, and allow for easy filing.

There are several email systems associations can use to their advantage. Some of these services come free, while others offer paid subscriptions. Here are the best HOA email systems you can use in your community:

1. AWeber

As one of the oldest email systems in the business, AWeber has spent years perfecting its services. This HOA email communication system is great for associations with no design background.

AWeber allows you to create custom emails using its drag and drop functionality, barring the need for coding. There is also an email template designer that uses AI technology to automatically create professional and engaging emails in a matter of seconds.

If you prefer to use templates that have already been created for you, AWeber has a library full of free templates to choose from. No more endless nights of designing newsletters and emails!

Additionally, AWeber makes it easy for you to analyze data such as key performance indicators (KPIs). It consists of pre-built reports that you can access any time, from a computer or on the go. Its mobile app, AWeber Stats, gives you access to all this data in one seamless location from your mobile device.

Other features include:

Automated Tagging
List Management
Sign Up Forms
Autoresponders
And more!

AWeber is a smart choice for small associations with a finite number of homeowners. Its services come free for up to 500 subscribers, with some limitations, of course. After that, prices start at $19 a month and only increases as you gain more subscribers.

2. Constant Contact

When it comes to sending emails to the HOA community, nothing makes the job easier than Constant Contact. This email service is one of the easiest systems to use, which makes it perfect for beginners.

With Constant Contact, you can manage your homeowner contacts, email lists, and templates with ease. It has a smart email editor that allows you to drag and drop items to customize your emails. Its automation feature also makes it easy for your HOA to send welcome emails to new homeowners and resend emails to those who have yet to open theirs.

If your association is conducting a survey or poll, you can do it straight from this HOA email system. You can even create, manage, and promote events, as well as collect and track online donations right from your computer.

Furthermore, Constant Contact also comes with data analytics tools. With these tools, you can see which homeowners are opening your emails and clicking on the links inside of them.

Other features include:

Free Image Library
Built-In Social Media Sharing Tools
List Segmentation
And more!

If you have a problem with their services, Constant Contact makes it easy for you to reach out to them. They have a variety of customer support outlets, such as live chat, email, and phone calls. You can also find help from its online community or resources.

The catch, though, is that Constant Contact does not come free. You can opt to take advantage of their 30-day free trial offer, but it will cost you $20 to $45 per month after that.

3. GetResponse

If you are looking for something a little cheaper than Constant Contact, then consider GetResponse. It boasts most of the same features, but prices start at $15 a month instead of $20.

With GetResponse, you can create HOA emails with ease. It also has an autoresponder feature that you can use to welcome, follow-up, or educate homeowners. You can turn on its notifications as well to let you know when emails have been received by the other party. True to its name, GetResponse also has a survey and polls feature that you can use to gather homeowner feedback straight from the system.

Perhaps one of its most outstanding features, though, is Webinars. With the help of this tool, you can get in touch with your membership live. You can share your screen with others as well as brainstorm ideas with the help of GetResponse’s whiteboard. These features are especially useful for remote meetings or sessions.

Other features include:

Data Analytics
Attractive Form Templates
List Segmentation
Integration with Google Docs, OptinMonster, ZenDesk, and SalesForce
And more!

You can sign up for a 30-day free trial with no credit card required. After that, GetResponse plans start at $15 a month for a list size of 1,000 subscribers.

4. MailChimp

MailChimp is one of the most popular and well-known email systems in the world. Just like other HOA email systems, MailChimp comes with a drag and drop feature, allowing you to create emails in a matter of minutes. It also boasts free templates that you can use if you lack the time to design one yourself. If you have a knack for coding, you can design your own templates.

Additionally, MailChimp has a great mobile app that allows you to create and send emails from basically anywhere. This service also has transactional email functionalities. With this, you can send personalized emails with no problem at all.

Similar to other email services, MailChimp also has analytics that you can access at any time. You can learn about homeowner behavior when it comes to emails and newsletters, as well as gain valuable insight on the go with the mobile app. If you need something simple without all the frills of more advanced systems, MailChimp should be a good option.

Other features include:

Autoresponders
List Segmentation
Integration with WordPress, Shopify, Magento, etc.
And more!

MailChimp’s free plan offers all the email features and tools you need at absolutely no cost. But, this plan is limited to only 2,000 contacts, which makes it perfect for associations with small memberships. MailChimp’s paid subscription starts at $9.99 per month for up to 50,000 contacts.

5. SendinBlue

For a system that combines emails and SMS, SendinBlue is a great service to try. As with other platforms, you can use this service’s drag and drop feature to create mesmerizing emails and newsletters without the need for a design or coding background.

Emails are not the only thing you can take advantage of with SendinBlue. You can also send text messages to homeowners and make the process easier with SMS templates. Other than that, if you have an HOA website, you can integrate live chat support for homeowners looking for real-time answers.

Additionally, this email system allows you to track and analyze statistics as they occur. You also have access to built-in reports and learn which homeowners are engaging with your emails. With all this and more, SendinBlue is truly your one-stop solution for all things communication.

Other features include:

Transactional Email
Sign Up Forms
List Segmentation
And more!

SendinBlue subscription plans start at $25 a month. Though, you can make use of its free plan, which lets you send up to 300 emails per day — well above what a homeowners association needs.

Making the Switch

The initial stage of the transition will come with a few challenges. Some homeowners may not be open to making the switch to a digital platform, especially older and less tech-savvy members. Others may feel apprehensive because personal data (email addresses) is involved. Soothe their anxieties by assuring them that their email addresses will remain confidential and will only be used for HOA communication purposes.

If there are any homeowners who still refuse to share their HOA email address with you, don’t force them. Instead, post each newsletter on your HOA website to keep these homeowners in the loop. You can also consider retaining the hard-copy system for select homeowners, but let them know of the added costs involved. Additionally, inform them that they may not be getting up-to-date news.

Beyond that, you should also develop an HOA communications policy consisting of rules and regulations that board members should follow. Sample rules in a standard HOA email policy include refraining from divulging personal information to third parties, only sharing relevant news (no gossip or opinions), and maintaining professionalism at all times.

A Step Into the Future of Communication

Emails have largely replaced traditional mail in terms of communication. This is due to the convenience they offer as well as the ease of storing them. Homeowners associations will also benefit from adopting an HOA email system. The road to going paperless, of course, will be paved with challenges. The long-term gains, though, are undeniable.

If your HOA or condo association needs a fully integrated, comprehensive management software, Condo Manager can help. Contact us today to learn more about our product!

Editor’s Note: Condo Manager is not affiliated with any of the email systems mentioned in this article.

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Manual Invoicing vs Automatic Invoicing: What’s Best For HOAs?

admin on December 2, 2020

Automation makes HOA management easier. Streamlined processes, such as automatic invoicing, increases efficiency and reduces manual labor. However, there are still a lot of HOAs that use manual invoicing processes. If you want to determine which is best for your HOA, here’s what you need to know about manual invoicing vs automatic invoicing.

What Are the Benefits of Automatic Invoicing?

Automation can make community association management significantly easier for board members. Financial management, in particular, can be very tedious work. By streamlining important processes — such as going from manual invoicing to automatic invoicing — the association can run more efficiently. Here are the benefits of automatic invoice processing.

1. Lower Operating Expenses

Even though HOA automation software will require an upfront investment, it will save your association money in the long run. Automated invoices will reduce the need for paper, envelopes, and ink. Since everything is already digital, you won’t have to spend as much on office supplies. HOAs can also reduce labor costs because employees won’t have to spend hours and hours focusing on manual invoicing.

2. Faster Processing Times

Manually creating and processing invoices is very time-consuming, especially if you have a large association. Automatic billing and invoicing will reduce overall processing times.

It will only take a few clicks to prepare relevant information, create invoices, and send them digitally. HOA software may also offer integration so the HOA and homeowners can conveniently settle their accounts online.

3. Reduce Invoice Errors

Humans are prone to make mistakes occasionally. However, invoice errors can have a devastating effect on your HOA accounting. You can avoid these consequences by shifting to automatic invoicing. Automation increases accuracy and minimizes errors. Also, since automatic invoicing is much faster, employees can devote more time to double-checking for mistakes.

4. Help Save the Environment

Automatic invoicing can be very helpful in advancing the green initiatives of your HOA. Going paperless means reducing your carbon footprint, which is essential in saving the environment. A green HOA may also attract more potential homebuyers, especially since many of the current and future homebuyers are eco-conscious millennials.

5. Improve Productivity

Since manually processing invoices can take hours, days, or even weeks, board members or employees may not have enough time to focus on other essential HOA tasks. Thus, switching to automatic invoicing can increase the HOA’s productivity. You’ll have more time to focus on more urgent HOA matters or projects that improve the quality of life of homeowners.

6. Fewer Service Interruptions

With manual invoicing, there’s a possibility that invoices may get misplaced, lost, or ignored. These issues could hinder the association from settling accounts on time. As a result, services may be halted or interrupted — which will then affect the quality of life of homeowners. If invoices are sent digitally, you can reduce or avoid overdue payments and service interruptions.

7. Better Financial Reporting

Automatic invoicing is just one of the key features of HOA software. By automating your accounting processes, board members will find it easier to keep track of HOA accounts and finances. With all the financial information easy to access, it will be less tedious to create annual budgets and other financial reports.

What Are Possible Reasons for Using Manual Invoicing?

Despite the benefits of automatic invoicing, not all HOAs have made the switch. Some HOAs may be happy with their manual invoicing processes.

In its own way, manual invoicing can still provide HOAs with certain benefits. Here are possible reasons why associations might want to stick to manual invoicing.

Lack of Use: Not all HOAs need automatic invoicing. Smaller HOAs have fewer members and utilities so the invoicing process is not as tedious compared to larger HOAs. Thus, there’s no pressing need to spend on HOA software just yet.
Keep Records Safe: It can be scary to only have digital copies of HOA records. If the system crashes, the HOA could potentially lose all its records. Some HOAs may prefer manual invoicing to keep important documents safe.
Ensure Privacy of Homeowners: With digital and online processes, there are also privacy concerns. If your system gets hacked, sensitive information about the HOA or its homeowners could be leaked or exposed.
No Time to Learn New System: Some HOAs may stick with manual invoicing simply because they have no time to learn about the automatic invoicing process. HOA software is a major investment so if the association cannot use it properly, you won’t be able to get your money’s worth.

These are just some of the reasons why some HOAs have not made the switch to automatic invoicing. Keep in mind, though, that with all the advancements in technology, HOA software can be very useful and reliable. It’s just as important to find the best HOA software for your needs. Once you do, you won’t feel any hesitations as the transition will be seamless.

Is Automatic Invoicing Better for Your HOA?

Investing in HOA software can mean that you are also investing in the future of your association. By automating invoicing and other essential tasks, the HOA can save a lot of money in the long run.

The money that you would have spent on office supplies, labor, and other expenses can instead be used for community projects. Automated processes can also mean better financial stability for the HOA. Even if you are still a small HOA, investing in automation can make it easier to scale or expand in the future.

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Condo Decorations Rules: Fair And Unfair Policies

admin on December 1, 2020

Condominiums typically have strict decoration rules to preserve the aesthetics and property values of the association. But during the holiday season — where most homeowners want to express their holiday spirit — how should boards handle their condo decorations rules?

Condo Decorations Rules: A Case Against Restrictive and Unfair Policies

Those who live in condo units are well-aware of their association’s decoration rules and regulations. As stakeholders in the association, owners know that these policies are crucial to maintaining property values. However, decorating for the holidays is a classic American tradition. Seeing festive decorations is one of the best ways to get into the holiday spirit.

As such, condo associations should think twice about implementing unfair and restrictive holiday decoration policies. Here are some points to consider when creating condo decorations rules.

Prohibiting Religious Holiday Decorations

In the Novi suburb of Detroit, an HOA came under fire after it had banned a family from displaying a Nativity scene on their front lawn. The HOA was forced to apologize after receiving widespread media attention and international protests. In Chicago, a COA faced legal action after it had removed a mezuzah from a Jewish family’s doorpost. There are many more cases like these throughout the United States.

Prohibiting religious holiday decorations could open up your association with religious discrimination lawsuits based on the Fair Housing Act. In some states like Chicago and Florida, there are also laws that prohibit the ban of religious displays or symbols. Remember that your condo owners have a legal right to equality and non-discrimination.

If your association’s governing documents have rules regarding the display of religious holiday decorations, make sure that it is implemented fairly and uniformly. For instance, you cannot ban owners from having mezuzahs on their doorposts but at the same time, allow Christmas wreaths.

Defining What is Tasteful vs Obnoxious

Many condo association’s governing documents will have a provision against tacky or obnoxious holiday decorations. Owners must only stick to tasteful apartment décor ideas. However, there is no 100% true consensus on what is tasteful and obnoxious. To avoid misunderstandings and disputes regarding holiday decorations, make sure to clearly define what the association considers as tasteful and obnoxious. These should be written down in your governing documents.

Fair Policies to Include in Your Condo Decoration Rules

Need help with your condo association’s holiday decoration rules? Here are fair and reasonable policies that you can implement.

1. Establish Holiday Decoration Schedule

Some associations give owners free rein on how they decorate their units during the holiday season. However, they have strict rules on when these decorations come up and come down.

The general standard for holiday decorations is to allow them 30 days before Christmas. Then, they must be taken down within the first two weeks of the new year. For other holidays like Halloween, many associations allow owners to display decorations at least two weeks before the specific holiday and have them removed the following week.

2. Implement Aesthetic Guidelines

For associations that want to maintain uniformity during the holiday season, consider implementing aesthetic guidelines for the owners. For instance, you can decide on a specific color palette for the entire building. You can also choose neutral holiday decorations so that residents do not feel that the association is biased towards a certain religion or holiday.

Prior to the holiday season, the board can put up sample boards. The owners will then vote on which aesthetic they prefer to have for the holidays. Since it’s impossible to please every owner, having a majority vote will prevent disputes or trouble.

3. Prohibit Holiday Decorations that Create Hazards

Holiday decoration restrictions are fair if the reason is to promote the health and safety of the community.

For example, you can prohibit large decorations outside units as they could create tripping hazards for the other residents. You can also prohibit candles and dry Christmas trees as they create fire hazards for the condominium.

Bright, flashing lights can cause migraines and trigger seizures so the association may also want to place some restrictions on these holiday decors. Meanwhile, sound-producing decorations could become a nuisance so you can implement rules like turning them off by 8 p.m.

Make sure to consult your local fire department on which holiday decorations could be dangerous for the condo association. Communicate this clearly to the owners so that they understand why you are prohibiting certain holiday decorations.

4. Require Permission for Exterior Holiday Decorations

Condo associations have strict rules for how owners decorate exterior surfaces such as windows, balconies, decks, patios, driveways, and lawns. This is so that the building has a uniform appearance from the ground up.

If you want to give owners some leeway during the holidays — but still have control over the aesthetics of your condominium — consider having the owners submit applications to your architectural review committee. You can set up guidelines on how owners can decorate their exteriors.

Through the application process, the association can ensure that all the holiday decorations are aligned with the aesthetics of the building. Just make sure to act swiftly so that owners have enough time to decorate their units.

5. Announce Condo Decorations Rules Ahead of the Holiday Season

The condo association should announce its holiday decoration policies early. Post them in the lobby and on elevator notice boards. You can also make the announcement electronically through the HOA online portal, website, social media accounts, or email.

If owners know the condo decorations rules before they shop for the holidays, the association will see better, overall compliance. It also gives owners the chance to raise their décor-related concerns to the board. You can avoid potential liabilities and disputes by making these changes or accommodations before the start of the holiday season.

Condo Decorations Rules That Promote Unity and Equality

The holiday season isn’t the time to instigate fights or disputes with the members of your community. Everybody just wants to experience the holiday spirit. Keep this in mind when you are formulating your condo decorations rules for the upcoming holiday season. It’s still possible to promote the interests of the association without impinging on the religious and spiritual traditions of your homeowners. Consider unity and equality as your apartment essentials for the holiday season.

Want to keep homeowners informed about your condo decorations rules? Contact the Condo Manager team today! Call us at (800) 626-1267 or email us at sales@condomanagerusa.com to learn more about our association management software solutions.

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How Can Association Management Software Help With Accounts Receivable?

admin on November 13, 2020

Although homeowners associations are non-profit organizations, they still earn money for the purpose of maintaining the community. Keep up with your HOA accounts receivable with the help of an association management software.

What Are HOA Accounts Receivable?

A homeowners association receives money from its members in the form of regular dues or fees. The association treats this as revenues, which are then used to fund the various expenses within the community. Not all of these revenues are received at once, though. This is what is referred to as HOA accounts receivable.

Simply put, accounts receivable are money the association expects to receive. It is money that debtors owe to the HOA. This can take many forms. As explained in the previous paragraph, it can be the regular dues that homeowners owe to the association. It can also take the form of fees or monetary fines that homeowners incur as a result of violating covenants or rules.

Other times, an association’s accounts receivable can come from vendors issuing refunds. If an HOA undergoes litigation with a homeowner or vendor, any monetary damages the association expects to receive as a result can also be considered as accounts receivable.

Benefits of an HOA Software

While some homeowners associations can manage their receivables manually, there are many advantages to switching to a digital platform. In addition to other benefits such as work order management and homeowner communication, here is how an HOA software can help your association with HOA accounts receivable:

1. Manage Multiple Communities

HOA boards are usually responsible for looking after their own community, but that is not the case with management companies. Association management companies typically handle multiple communities at a time.

With so much on their plate, it can be difficult to track which receivables belong to which community. Additionally, every community has its own set of rules and payment guidelines.

With HOA software, management companies can juggle multiple accounts simultaneously. Separating communities into profiles makes it easier to stay on top of accounts receivables as well as other items.

2. Customize HOA Assessments and Fees

It is not unusual for regular assessment amounts to vary each year. A surplus in the budget for one year could affect the following year’s budget.

Rising labor rates, inflation, and a number of other factors can also influence how much an HOA charges in fees or the need for special assessments. Moreover, some associations do not charge a flat rate across all members. Some homeowners may pay more depending on the size of their unit.

This constant change can make things confusing when recording assessments manually. Plus, extra fees like pet fees and violation fees can further complicate the matter.

An HOA software, though, can simplify the process by allowing customization of fees and assessments. You can designate a profile for each homeowner and modify the charges as you see fit.

3. Save Time Through Automated Processes

It is no secret that technology has helped streamline many of our modern-day processes. The same applies to HOA accounts receivables. Manual processes can take up so much of your time — time better spent on more important issues plaguing your community. Additionally, a manual approach has more room for error.

An HOA software comes with fully automated features that can save you both time and money. You can pull up and print out statements of accounts for each homeowner with ease.

You can send out reminders for upcoming or overdue receivables. Most programs come integrated with calendars that you can use to schedule reminders so that they go out on their own at the appropriate time.

Management companies, in particular, can significantly benefit from automation. When you handle a multitude of associations and communities, the ability to process account statements and send reminders in large batches become a necessity.

4. Make Collections and Follow-Ups Easy

Perhaps one of the most tedious jobs associated with accounts receivables is the collection. Even though you send out timely reminders, some homeowners just miss deadlines either accidentally or intentionally.

With the help of an HOA software, you can keep track of these overdue accounts receivables in one neat place. Monitor how long payments have gone unpaid for each homeowner. You can also send follow-up reminders to homeowners who have yet to settle their balances.

In addition to this, you can also keep tabs on debtors who have settled payments with the association. For example, if a homeowner pays their association dues, you can log this information into the program immediately. Most programs even allow you to attach supporting photos and documents (such as deposit slips), making it easy for you to cross-reference payments.

5. Generate Reports Quickly

Accounting will always remain a part of association management. That means preparing various accounting reports, such as income statements, balance sheets, and the like.

When it comes to accounts receivables, the associated report is the HOA statement of receivables.

Preparing the HOA statement of receivables is no easy task. If you have no prior experience or familiarity with this statement, you will find it fairly difficult to create or understand one.

An association management software, though, does the job for you. With technological help, you can generate a statement of receivables for any time period and learn how much the association is owed in one fell swoop.

A statement of receivables also usually comes with aging information. This will help you determine which overdue accounts have gone past 30, 60, and even 90 days.

6. Integrated Accounting System

Association management software offers fully integrated accounting solutions that comply with Generally Accepted Accounting Principles (GAAP). On top of keeping track of your HOA accounts receivable, an HOA software can help you with other accounting problems, too. This includes managing your HOA accounts payable, which are amounts and payments your association owes to other parties.

Efficiency Beyond Manual Solutions

Managing HOA accounts receivable can come as a challenge, especially for large associations or management companies with plenty of clients. When done improperly, accounts can get mixed up and overdue amounts may go uncollected. With an HOA software, though, you can say goodbye to endless hours of perusing through books and statements.

If your association or management company requires help handling accounts receivable, Condo Manager offers a fully integrated HOA software. Reach out to us today to learn more!

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Can A Commercial Property Management Software Help You?

admin on November 2, 2020

Managing commercial properties is no longer an easy task when done manually. Commercial property owners find themselves needing to adjust to an ever-evolving technological landscape. And, for that, you must turn to commercial property management software.

Understanding Commercial Property Management Software

The road to successful commercial property management is paved with many difficulties and hindrances. In order to overcome these challenges, you must be equipped with the proper tools. One of these tools is a commercial property management system.

Simply put, a commercial property management software helps you accomplish various day-to-day tasks and operations through automation in a digital platform.

This kind of system enables property managers and owners like you to streamline processes, such as the collection of payments, maintenance tracking, and the like. It is designed for a wide range of commercial properties, including retail spaces and office buildings.

Benefits of a Comprehensive Property Management Software

If you remain unconvinced about the value a property management software can bring you, here are the benefits of investing in an end-to-end system:

1. Fewer Errors or Lost Data

Before the advent of software, commercial property managers and owners used to rely on manual processes. With the introduction of technological developments, a shift soon began.

More and more property managers started to adopt the use of multiple platforms. And while this helped digitize and automate some of the management processes, it still stands inferior to an end-to-end management system.

A comprehensive commercial property management software provides you with all the features you need. It takes elements from multiple platforms and combines them into a single, all-inclusive system.

Because you have everything you need in one place, it reduces the risk of errors. It also eliminates the chance of lost data stemming from transferring data sets across different platforms.

2. Automated Tenant Management

Good tenants are not all that hard to come by — they just take more effort to find and land. If you want your vacant commercial spaces to be occupied by quality tenants, a property management software can help.

Comprehensive digital platforms typically have tenant management functions in place. This functionality allows you to manage tenants from the screening process all the way through communicating with them and tracking their maintenance requests.

3. Streamlined and Faster Cycle Times

You know what they say, “time is money.” That saying rings especially true for businesses. Manual or disjointed processes are not only susceptible to errors and loss of data, they are also more time-consuming. Plus, the time you spend on management multiplies as you acquire more commercial properties.

When you switch over to a computerized system, you can save a significant amount of time. Furthermore, when these systems are connected in an end-to-end management software, you can streamline processes and make way for faster cycle times.

You also eliminate the need for you to run from one property to another. An all-in-one automated system will allow you to manage multiple properties simultaneously right from your computer.

4. More Efficient Financial Management

Perhaps one of the most difficult aspects of managing a commercial property is getting a handle on your finances. The main purpose of a business is to earn money, But it is not always easy to improve your cash flow, particularly when you have a lot of commercial properties you need to juggle.

With a commercial property management program, you can look forward to more efficient and effective financial management. You can use technology to your advantage, accomplishing tasks ranging from automated billing to processing payments electronically.

Accounting tools and functions will also make it simpler to get your finances in order. With such an asset on your side, you can pinpoint problem areas, keep costs low, and maximize your profitability.

5. Easy Access to KPIs and Reporting

A large pitfall of a manual or disjointed system is the lack of reporting and data analytics. So much of the business landscape revolves around the ability to obtain key statistics instantly. Let’s face it — no one has time to ruffle through past data records just to analyze them.

This is where a property management software can help. With an automated and digitized system, you can promptly retrieve data for analysis and even generate reports on the spot. You can even set parameters according to a number of filters, such as date ranges and tenant types. Then, you can use the insight you gain from this data to inform your future business and financial decisions.

6. A Sustainable Alternative

Automation is all well and good, but an important yet often overlooked advantage of a property management software is sustainability. It is, now more than ever, glaringly clear that the world is experiencing a shift in favor of greener solutions. Younger generations, in particular, are more inclined to partner or work with companies that advocate and practice sustainability.

A management software does not only save time and money, but it also has a significantly lower carbon footprint. It supports environmental sustainability in a number of realms, including invoice processing, tenant and vendor management, and maintenance requests.

Features to Look for in a Commercial Property Software

When deciding on which software to use, it is essential to examine the features and functions each prospect offers.

Some of the best commercial property management software come with a complete set of tools and features, such as:

Accounting Tools. Every transaction creates an accounting entry that goes straight to the general ledger and allows you to generate financial statements in real-time.
Analytics and Reporting Tools. Organized and categorized data can help property managers and owners analyze the performance of the business.
Automatic Alerts. A feature that automatically notifies you of important events and tasks can serve you well. You can also set it up to send automated reminders to tenants.
Budgeting. A budget module can help you keep track of your expenses and make sure you do not go over the set amount for each item during the time period.
Communication Tools. It is always a plus to have built-in communication tools such as emails and text messages.
Maintenance Management. Commercial properties require regular maintenance. Stay on top of maintenance requests, work orders, and quotations with a helpful maintenance management feature.
Mobile Applications. You are not always glued to your computer, and neither are your tenants. A mobile application for your property management software gives you access to your system on the go.
Online Payment Processing. With this feature, tenants can electronically send you payments for rent or other fees.
Online User Portal. An online portal will allow users (tenants and property owners) to access important information and financials without fear of viewing or tampering with confidential data.
Scheduling Tools. A calendar and scheduling tool can help you stay on track of events and tasks.
Third-Party Integrations. Your management software should be third-party integration-ready for seamless program-to-program functionality.

The Price of a Commercial Property Management Software

Management software for commercial properties can vary in cost depending on the developer or provider and your specific needs. Non-enterprise systems can run between $5,000 to $10,000 annually. Generally speaking, though, if you have more properties or units to manage, you should expect the price to go up along with it.

While the cost of investing in such software can definitely sway your decision, you must remember that its benefits far outweigh the price. Additionally, many cheaper alternatives exist, although they do not typically come with extensive management tools.

A Step into the Future

Property managers and owners alike will benefit greatly from a commercial property management software. An end-to-end automated system offers many features that can lighten your workload, reduce errors or loss of data, and streamline processes. All you need to do is take that first step.

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HOA Billing And Payment Processing Made Easier With HOA Software

admin on August 7, 2020

Managing a condo or homeowners association is very time-consuming. Board members must be able to balance complex responsibilities including accounting, billing, and payment processing. Thankfully, there are HOA software programs that automate a lot of these responsibilities — resulting in more efficient day-to-day operations. If you’re interested in HOA billing and payment processing software, here’s what you need to know.

Maximize Efficiency with HOA Billing and Payment Processing Software

The latest advancements in technology have allowed community association management to evolve. Gone are the days when board members or managers had to file paperwork into cabinets, send notices by snail mail, or sit by the phone to await calls from homeowners. Today, HOA software has become the norm as it accomplishes the same tasks — but with increased efficiency, less operational expenses, and less effort.

If you’re interested in automating your association’s day-to-day operations, HOA billing and payment processing is a great place to start. Here are the benefits of having HOA software.

1. More Convenient Payment Options for Homeowners

With HOA payment processing software, homeowners can settle their monthly or quarterly dues online. This is much more convenient than having to physically hand over cash payments to the association or deposit checks to the bank. Homeowners also have more payment options such as credit cards, debit cards, or e-checks. As an added benefit, the convenience of online payment can also increase on-time payments from homeowners.

2. Easier Payment Tracking

The HOA software payment processing feature means easier tracking for board members or managers. Since most payments are made online, you can use the software to track which homeowners have settled their accounts and which haven’t. Having digital records of financial transactions will make financial tasks such as accounting and bookkeeping much easier as well.

3. Automated HOA Software Billing

HOA billing is one of the most important tasks of an association. There are also many components such as HOA utility billing and HOA fee billing. If these tasks are done manually, they can take up most — if not all — of your time. HOA software can automate the billing process and make it more convenient for board members. Even if your community continues to welcome new members, the association won’t struggle with the billing process. With HOA software, you can also automatically send invoices and notices to the entire community.

4. Accurate and Full-Service Accounting Features

HOA software will have all the accounting functions you will ever need. You no longer have to switch between different programs, which can increase accounting errors or emissions. Associations can also easily modify or reverse transactions for more accurate accounting. Boards can be more efficient since accounts payable, accounts receivable, and other important financial documents can be found in one place.

5. Real-Time Financial Reporting

HOA software will automatically update your accounts based on money coming in and out. Thus, associations can create real-time financial reports whenever they need it. You can easily customize reports with cover pages and other available templates. These reports also present financial information clearly and simply. It will be easy for board members to understand.

6. Simple and Easy-to-Use Interface

A lot of associations are hesitant to use HOA software because it sounds complicated to use. However, this software is specifically designed for associations. Thus, it is very simple and easy to use. The interface is very intuitive so both board members and homeowners alike will not have a hard time navigating through the different features. Moreover, HOA software comes with a support team that can assist you with whatever you need.

7. Mobile Compatibility

One of the best things about HOA software is that you can access it anywhere and anytime. As long as you have an internet connection, you can use your desktop, laptop, tablet, or smartphone. Board members can continue to monitor the association even if they are outside the office.

Likewise, homeowners no longer have to call or email the association in order to access important information. They can simply log on to the website portal and find the documents they are looking for.

HOA Billing and Payment Processing Software Makes Community Association Management Easier

HOA billing and payment processing software is a worthwhile investment for any association. With HOA software, benefits like increased efficiency and productivity far outweigh the costs. HOA board members can become more effective because of the automation of time-consuming tasks such as accounting and billing. Homeowners can also benefit from more convenient payment options and 24/7 access to important documents.

Investing in HOA billing and payment processing also makes your community future-proof. It can stay competitive with other communities and continuously attract more homebuyers. If you have further questions, feel free to contact the Condo Manager team today!

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