Many homeowners associations (HOAs) still rely on management systems from the pre-internet era. Such organizations are largely paper-based and reliant on manual processes that are inefficient, error-prone, and frustrating for end users.
But the world is rapidly changing, and businesses everywhere are embracing digital technologies to transform their operations. In fact, 70 percent of organizations either have a digital transformation strategy or are currently working on one.
HOAs also need to ride the digital transformation wave and keep up with the changing pace of technology. One of the best ways to do that is by investing in purpose-built HOA software. Such a simple move can transform the owner and employee experience, leading to better outcomes for everyone.
What to Look for in an HOA Software Solution
There are many HOA platforms out there, making it hard to narrow down a platform. The good news is that knowing what to look for in an HOA platform can help make the process easier and ensure you implement a solution that matches your exact needs.
With that in mind, here are some critical features to look for in HOA software solutions:
Automation
HOA platforms are increasingly using automation to streamline daily administrative workflows. For example, it’s now possible to automate real estate management tasks—such as billing, generating compliance letters, and scheduling routine maintenance—from a single portal.
As such, it helps to invest in an intelligent platform that will enable your team to take advantage of fully automated condominium management processes. Just keep in mind that automation quality tends to vary across platforms. Your best bet is to invest in a platform with high automation maturity to ensure it can support complex and evolving workflows.
HOA-Specific Functions
Not all real estate management platforms offer HOA-specific functions. Many offer general services that encompass a range of real estate management needs.
With this in mind, you’ll want to look for HOA software that contains built-in processes to simplify calculations like condominium fees, fines, and special assessments. Team members should have direct access to all the tools they need to perform management functions from a central location without using third-party services.
Ease of Use and Reporting
Some platforms can be very complicated and time-consuming to learn, which is a problem for busy property managers.
Investing in a platform that’s easy to implement and user-friendly is important. Otherwise, your team may push back and revert to traditional management processes. For the best results, the platform should only take a few hours or days to master.
Community-Based Platform
Property owners need digital HOA services they can use to connect with HOA boards and complete various tasks, such as paying fees.
In light of this, you’ll want to invest in HOA software with a community component. In addition to making electronic payments, unit owners should also be able to use the platform to review their ledgers, file complaints, and submit maintenance requests. Quite simply, offering a community platform is now a customer service requirement for HOAs.
Flexible Payments
Most property owners want access to flexible, convenient, and secure payment services from their HOAs.
It helps to invest in a platform that enables online payments, check scans, and electronic banking. Ideally, the platform must also be able to create payment plans and process postdated payments.
How to Implement HOA Software
Implementing HOA software is a big decision that impacts customer service, payments, and operations. For this reason, it’s important to take extra care when picking a platform and migrating your employees and data.
The safest and most efficient way to implement HOA software is to partner with a leading provider with a demonstrated track record of success. The right provider will offer customized system implementation to match your business’s unique needs alongside ongoing training and support throughout the entire software lifecycle.
If you’re looking to transform the way your HOA uses technology, Netintegrity can help. Netintegrity offers one of the most comprehensive turnkey property management software solutions on the market, including robust implementation training and support.
Want to learn more about how Netintegrity can help your HOA get to the next level? Request a demo today.
