One thing you may have noticed about modern life is that there are software and apps for just about everything. Most people feel like this is a positive. Often, these apps and software suites make their lives considerably easier.
HOA management software is no exception. HOA stands for homeowner's associations. For the unfamiliar, a real estate developer typically sets up an HOA when they want to sell residential subdivision lots and homes, market them, and manage them.
If you decide to snap up one of these homes, you have to adhere to strict HOA policies. The subdivision's owner usually appoints a manager to oversee the goings-on at these properties. If you want to make some alterations to your land or property, you have to get the owner's approval.
In many instances, HOA management software exists now as well. If you're either a subdivision owner or one of the property residents, you might want to get yourself some of it to make your life easier.
Here are some things you'll probably look for in such software suites.
Dues-Collecting Capabilities
One of the things you'll probably look for from software for HOA management is dues-collecting capabilities. If your family resides in a subdivision, you're going to have dues to pay. They cover things like:
Trash collection
Yard maintenance
Pest control
These are all things you'd pay for if you didn't live in an HOA-managed home. It's just that instead of handling these details yourself by hiring private companies, you're paying into a communal pool.
Whenever you need your sink fixed, your roof repaired, etc., you contact the HOA, and they reach out to the appropriate contracted entity.
The HOA-management software you want should allow you to pay these dues. This saves you the trouble of delivering a check to the HOA manager or property owner. Instead, you can pay via the software, saving you time and trouble.
Communication Capabilities
Another thing you'll want to see from HOA management software is communication capabilities. For instance:
If you're the HOA head, you want to be able to reach the various residents
The residents should be able to contact the HOA head
The residents or HOA head should be able to reach out to the subdivision owner if they ever need to
Messaging through the app lets all users forego phone calls, texts, faxes, and other communication forms. With the right software, you can consider all of that outdated. The software should also allow users to post communally or send individuals private messages.
Accounting
Just like with any real estate or business endeavor, this type of setup requires some accounting. The subdivision owner possibly handles that themselves, but it's more than likely they've hired an accountant to do it for them.
The accountant should find all the information they need via the software. They can go on there and see how much each individual pays and whether any of their accounts are in arrears.
The residents will not use the software for this purpose. These features will likely be the accountant's exclusive domain, and possibly the subdivision owner or property manager might use them as well from time to time.
Payment Scheduling and Reminders
If you're one of the subdivision residents, you know that you have various dues to pay and probably mortgage payments. You should be able to use the HOA software suite to set reminders for when to make those payments.
You can get text or email notifications. Then, you can schedule payment accordingly. You might set up automatic payments, or you may feel like it makes more sense for you to only do each one when you're ready. Either way, you can stay on top of things with these features.
It Should Be Easy to Use
One more thing you'll want from HOA management software is for it to be easy to use. That's true whether you're a resident, the accountant crunching the numbers at tax time, the subdivision's owner, or whoever heads up the homeowner's association on the owner's behalf.
All of the features should be easy to figure out and use, from payments to communication to transaction history. You should not have to be a tech wizard to use the software.
Once you have this software suite on your desktop or laptop, it should make living in an HOA-managed property much easier. Some companies even develop an app so you can take care of the tasks we mentioned via your smartphone as well.
