When it comes to management, large HOA communities are always looking for ways to make things simpler. There are countless obligations to fulfill and requests to address every day, and if these associations don’t have a firm handle on the big stuff (communication, record keeping, finances), every day can feel like an uphill battle.
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The Foundation for Community Association Research estimates that 7,000 – 9,000 large-scale associations operate in the United States. The majority of these communities have at least 1,000 lots and a minimum annual budget of $2 million.
In order to keep up with all of the moving parts, HOA management software has become essential for these large communities.
Why HOA software is essential for large HOAs
The core objectives of HOA management software include automating repetitive processes, streamlining day-to-day operations, and creating better, more structured systems that benefit owners.
When designed well and used correctly, HOA management software reduces costs and chaos while creating a more enjoyable living environment.
Less busywork
Admins are never excited by the thought of having to issue permits or make photocopies of budgets, but at the same time, these tasks must be completed.
Fortunately, HOA software can take on many of the tedious, time-consuming tasks that have traditionally been completed by staff. Instead of booking the clubhouse for each person who requests it, or renewing parking permits every year, you can let HOA software take care of the heavy lifting.
Self-serve options for owners
One of the best benefits of HOA management software is that it helps homeowners, too. Most software solutions come with a mobile app, which assists with user adoption.
Owners are empowered with several tools that allow them to do more for themselves. For example, they may have 24/7 access to governing documents, and HOA communications. This not only helps owners become more informed, rule-abiding members, but they also end up bringing fewer questions/requests to staff.
Online payments is another big time-saving feature that makes everyone happy.
Accurate numbers
When you are responsible for making million-dollar budgets, you need to ensure your data is accurate. A couple of errors here and there won’t make much of an impact, but if those errors become too common, or if delinquent payments pile up, the consequences could be devastating.
Owners will be angry if they’ve been asked to pay too much for regular assessments, and conversely, the community could be in trouble if it doesn’t have enough money to pay bills on time.
Cloud-based accounting software designed for non-accountants can be invaluable to HOAs. These programs minimize human error, call attention to late payments, and make it easier for communities to achieve financial accuracy and transparency.
Since the data is stored securely on the cloud, it can be accessed from any device, providing users with the option to work from anywhere. Many of these programs have templates or processes for additional convenience and efficiency.
Long-term success
Good HOA software addresses your community’s current needs, but great HOA software will anticipate future needs. How is that possible? Companies like Condo Control continue to add to their existing collection of solutions using real feedback from real clients. As a result, your community may already have access to a solution before a new problem impacts operations.
Furthermore, the reports that HOA software can produce will help stakeholders with critical decision-making. More informed choices lead to more successful outcomes.
Why would large HOAs need two software platforms?
HOA software can really help large associations become more efficient, but why would a community need two platforms when there are several all-in-one options to choose from?
Just like any product, every HOA software has its strengths and weaknesses. Some platforms excel in accounting, while others have unmatched communication features. Unfortunately, there isn’t a program that can do everything exceptionally well, and the bigger the community, the harder it is for one program to address every problem. But, it is possible to integrate two strong platforms and enjoy the benefits of both solutions.
More specialized solutions that cater to your HOA
HOAs will often select two (or three) software that specialize in different areas. Selections can be tailored to their individual needs, creating a comprehensive HOA management solution.
For example, by combining an exceptional accounting solution like QuickBooks with a platform that improves communications and compliance, you effectively tackle all of the HOA’s most significant challenges.
Rather than compromising on a single platform that tries to do everything, you can capitalize on the specialties of multiple software.
A better value for your money
It’s true that your HOA will spend more money by signing two contracts. But the association will save in other ways.
For starters, instead of paying for one expensive plan with features that you’ll never use, you can select more affordable plans and pay for the features you do need.
In many cases, software companies will give customers the option to pick and choose the features they want. If your needs change, you can add or remove features as required.
Another great thing about having two high-performing platforms is that you don’t have to waste time trying to create workarounds or shortcuts. It’s very frustrating to find out a solution doesn’t work the way you thought it would. And yet, this happens to HOAs all of the time.
Staff and board members save time and labor costs when HOA software does what it says it will do.
Seamless data management
The whole point of integrating software platforms instead of using them separately is to encourage the platforms to work together as much as possible.
In most cases, that means unlocking a one-way or two-way sync functionality. Data updated in one platform is automatically changed in the other platform, cutting manual data entry in half. Less manual data entry also means fewer opportunities for mistakes.
Owners also benefit from software integrations, especially access control, payment processing or accounting integrations. They can see account balances, or unlock gates using the same resident portal they’re already familiar with. An integration enhances their experience in some way without them having to become familiar with new software.
Conclusion
It is not uncommon for large HOA communities to use multiple software systems. Since there are so many tasks that need to be addressed, they may feel it’s more effective to find the best solution for each problem.
Using too many platforms can overcomplicate operations and overwhelm staff. But having two or three high-performing HOA management solutions offers significant advantages.
By integrating specialized software, HOA communities can leverage the best options available, customize their collection of tools and features, and optimize operations without having to pay a premium.
