Condo Control's Community Savings Calculator
Winner of G2's best return on investment award for community associations.
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Calculator Overview
Get a quick estimate of how much money and time you could save your community, as well as revenue you may earn, using Condo Control’s ROI calculator. While calculations are only estimates, the equations were designed using concrete data from our industry experts, and credible sources such as the Foundation for Community Association Research.
Cost and Time Breakdown
| Task | Volume | Time without Condo Control | Cost without Condo Control | Revenue generated |
|---|---|---|---|---|
Sending notices |
On average, units/doors are sent 9 letters or notices each month |
It takes between 1-5 minutes to deliver each notice depending on the HOA/condominium layout |
It costs approximately 64 cents to send out a letter to a resident, or 20 cents when delivered by hand |
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Reaching quorum |
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It costs an average of $500 to organize and host a meeting |
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Package tracking |
The average monthly package volume is 457% more than the number of units located in the community |
It takes an average of 5 minutes to manually log each package |
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Bookings |
Communities receive an average of 67% of bookings each month, depending on the number of units/doors Of the 67% of units/doors that book an amenity, 4% will book an amenity that charges a fee (clubhouse, elevator, party room, etc.) each month |
From start to finish, the manual booking process takes an average of 45 minutes (includes filling out forms, payment, and pre- and post-inspection) |
Each paid amenity generates an average of $5-50, depending on the amenity |
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Maintenance requests |
Maintenance request volume is 23% of doors/units in the community |
It takes approximately 15 minutes to submit, log and close maintenance requests |
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Visitors |
Visitor volume is approximately 83% of the number of doors/units in the community |
It takes approximately 5 minutes for security staff to manually log visitors into a system |
If there is a fee for parking, the average price per visitor is $5-25 |
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Violations |
5% of units will be issued a violation each month |
Each violation generates an average of $25 |
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Late payments |
On average, an HOA/Condo charges 5-10% on late maintenance fee payments. Online payments help HOAs collect maintenance fees conveniently, securely, and efficiently, even from delinquent residents. |
Community Statistics
| Activity | Amount |
|---|---|
Total time spent governing community associations in the United States |
98,500,000 volunteer hours/year |
Total number of community association doors/units in the United States |
27,700,000 |
Average time spent on each unit |
3.5 hours/year |
Total value of volunteer time spent on governing community associations in the United States |
$2.949 billion |
Hourly value of volunteer time per board member |
$29.95 |
Alternative Systems
| Solution | System used to calculate costs |
|---|---|
Project management |
Based on monday.com subscription |
Communications |
Based on Constant Contact subscription |
File storage |
Based on Dropbox subscription |
Survey |
Based on SurveyMonkey subscription |
Resident database |
Based on Microsoft Access subscription |
Security |
Based on package management and booking program |
Explore the solutions proven to alleviate property management problems and headaches
Frequently asked questions
In order to pull accurate estimates, you will need to know the following information about your community:
- Number of units/doors
- How many tries it takes the community to reach quorum
- How many late payments occur each month
- How much owners pay in fees/assessments each month
- What type of software, if any, your community pays for
- How many violations are logged each month
- How many bookings are made each month
We compiled data from multiple resources, including our own customer success team which consists of former property managers, security/concierge staff, and current board members. We also took usage data from our case studies and information made available on public websites to come up with equations that would provide calculations that reflect average time and cost savings based on the information entered into the ROI calculator.
Yes, it is possible to save $10,000 or more, depending on the size of the community and the software subscriptions you already have. One of our clients, a large, self-managed HOA, saved nearly $115,000 in print and mailing costs alone just by using Condo Control’s e-consent solution.
You’re right. Violation fines are intended to deter behaviour that goes against your community’s rules. They are not to be used as a way to generate income. However, due to the challenges that teams face when trying to track and follow up on violations, many fines are simply forgotten. That can be classified as lost revenue. Condo Control aims to ensure the community gets all of the money that is owed to it which is why money from fines has been categorized under additional income.
Yes. It is still likely that you will save time and money when you switch to Condo Control. Our software has been recognized by clients as the most user-friendly and intuitive property management software option. That means you don’t waste time trying to figure out workarounds or how to properly use a feature.
If you are using more than one software solution, you can probably cancel most of your subscriptions since Condo Control has dozens of communication and management solutions designed specifically for condo and HOA communities. You can also integrate certain platforms, like QuickBooks or Yardi, with Condo Control and cut manual data entry work in half.
We offer 3 different pricing packages, and even have a plan for small communities. We cannot provide an exact price because plans are customized based on the size of the community and its specific needs. We invite you to contact our sales team to find out more about pricing for your community.
It depends on how extensively you use Condo Control, and how big your community is. However, most communities notice savings within 3 to 6 months of implementing the software.
The best way to know you’re making a great choice for your community
A return on investment (ROI) is a calculation of the value of an investment versus its cost. A standard ROI formula looks like this:
(profit - cost) / cost
An ROI calculation helps the investor or customer to evaluate the efficiency or profitability of an investment, or compare the efficiency of several different investments.
Purchasing software is significant. Not only do you need to ensure you’re spending the community’s money wisely, but you need to ensure what you are paying for is worth the price.
Condo Control’s ROI calculator makes it easy to see the time and monetary returns your community will receive. That’s not information most companies can offer.
With these figures, it’s also easier to show reluctant board members or property managers the value of this software.
There are several key factors that can affect the amount of time and/or money you gain with Condo Control. Some of these factors include:
- The size of your community
- The frequency with which you use the software
- The solutions you select
- Your owners’ willingness to adopt the software
- Whether or not you have software at all
- The amount of money you are currently spending on property management solutions
Our staff can help ensure you select the solutions that will be most valuable to your community.
While there is no downside to using our ROI calculator, there are some weaknesses that all ROI calculations share.
- As long as you have a few key numbers, obtaining ROI values does not require complicated calculations (especially with our ROI calculator)
- The results are easy to see and share
- Leaders get a specific measure of profitability
- They can assist with simplifying the decision-making process, especially if you’re trying something for the first time
Pros
- Different people may not interpret value the same way, and that can make it harder for teams to make a collective decision
- It may not be possible to obtain time/cost savings and potential earnings from other options, so you cannot objectively compare options
- ROI results are not perfect. Plus they cannot account for unexpected expenses or events that would impact cost/time savings
Cons
Here are some ways your community can maximize the benefits provided by Condo Control.
1. Let go of old processes Condo Control automates manual processes which allows condos and HOAs to reduce the amount of time-consuming manual work they had to complete before using the software. Switching to Condo Control is refreshingly easy, even if you don’t consider yourself tech-savvy. However, staff and board members must be prepared to make changes to established routines. Sometimes it can be hard to let go of habits, even if they aren’t effective or productive. But offloading grunt work to Condo Control is necessary in order to see a high ROI.
2. Don’t be afraid to explore every feature You shouldn’t be afraid to check out every available feature and setting once you’ve got a Condo Control account. Just like any new tool, you want to get comfortable learning everything you can about it, and the only way to do that is to use it. As you get more comfortable, you will be able to master the features and functionalities that will result in the biggest time/cost savings.
3. Take advantage of customization options Our platform is flexible enough to accommodate your rules, processes, and standards. The software works for you, not the other way around. As such, make sure any customizable settings are adjusted to complement operations. For example, you can modify the number of visitor parking passes residents can access each month, or set up approval processes for paying vendors.
4. Create a training plan for users who might need extra help In addition to our award-winning software, our company is known for its outstanding customer support. We have a dedicated onboarding team to assist new clients, accessible user guides and videos for residents and owners, a customer success team that’s always looking for ways to elevate your experience, and an exclusive community forum for boards and managers. We have several different resources to ensure your success with Condo Control, but we also understand that not everyone feels comfortable exploring online software. For those residents, you may consider hosting a simple in-person training session to help them understand how to do basic things like check messages or submit requests. Be sure to highlight the mobile app as many residents prefer that. If they can use Facebook, they can use Condo Control.
5. Check the data to see how well the software is being used Condo Control lets you see relevant data that will help you best manage your community. You can check things like message open rates to see how many people are reading what you send, or key logs to ensure staff are properly documenting key sign-outs and returns.
If numbers seem low, you can take measures to encourage better adaptation of the software.