Managing a homeowners community or residential association is not a small task. In most cases, HOA managers, property owners, and board members report that tasks pile up, service requests remain pending, and ultimately the whole community suffers. Here comes HOA management software that digitizes all the homeowners association data, tasks, and service requests. The operator only needs to execute some mouse clicks to run the whole community just from a computer. Continue reading to learn about the HOA management software and some popular names that you should check out.
What Is an HOA Software?
The HOA management software or homeowners association tool is an application package dedicated to helping HOA management personnel, property managers, or HOA board members. HOA tools allow you to digitize the entire operation and manage small to large communities from a tablet or a laptop computer. Most homeowners association applications are an all-in-one CRM tool. A standard tool might include the followings:
Online Contract DatabaseWebsite CreatorService Request Ticket GeneratorService Request ManagerHOA EmailingLive Conversation Via ChatPayment GatewaysEvent SchedulingService FinancingNotifications and Reminders
An HOA software can either focus on regulations, operations, or administration. However, all-in-one HOA management tools take care of almost all the requirements. Thus, all-in-one tools are more cost-effective than HOA software with individual functions.
Key Features of an HOA Software
It will be overwhelming for you to sit in front of Google search and start researching HOA management apps. The tools vary greatly with features, functionalities, and service modules. However, you must look for the following features before investing in HOA software:
Payment System
The payment module should allow online, debit card, credit card, check, and IVR-based payment modes. Also, once a member has paid their dues, there should be efficient tracking, recording, and acknowledging such payments.
Resident’s Database
The database of community members is the brain of any HOA management application. Here, you will store all the information about the member, resident, owner, property manager, renter, service employees, guards, etc. It should also be easy to operate and not like you need a MySQL database expert to perform queries, edit records, etc. There should be a graphical user interface for the database with automatic fields where you can simply enter the data. Also, for data retrieval, there should be a simple drop-down list to choose from.
Resident’s Portal
There must be a portal where community members can log in to their profiles. From there, they can update their records relevant to the HOA rules and regulations. You can also host member-only content on the portal. Furthermore, you can allow members to communicate with each other by email, chat, and forums.
Tracking and Reporting of Finances
Tracking the inflow and outflow of money is crucial for any HOA community. The tool should allow you to create separate fields for earnings and expenses. Furthermore, there should be a bird’s eye view dashboard from which you can get a real-time idea about the treasury balance, inventory status, etc. Moreover, you also need a one-click reporting tool to create monthly, quarterly, and yearly reports and publish them online on the HOA website for transparency. Such financial reports will also help you to get nonprofit status when you club the HOA tool with any nonprofit accounting software.
Communications and Conversations
A separate communications module should possess features like push notifications, emails, texting, contact management, and secure information sharing. Also, the communications module should record all the conversations for future audit purposes.
Event Scheduling and Management
Having event management and scheduling functionalities in your HOA software is good. Such features help you to manage events like parties, celebrations, etc., in an organized way.
The Benefits of HOA Software
HOA management applications can streamline all documentation, payments, service requests, following up on service tickets, sending payment reminders, managing financial books, and so on.Property managers can recruit part-time staff as software operators and reduce the HOA operations team to save money.You can effortlessly digitize all data and documents in one place. They are available for audit whenever there is a requirement.Instead of securing physical documents under lock and key, store data within the HOA tool on-premise or in the cloud with stringent encryption.It improves financial, incidental, and security reporting for any HOA operations.The software can revolutionize the way residents communicate. Thus everybody stays updated about the entire community.
Now, find below some popular and reliable HOA software to manage your residential communities effortlessly:
Buildium
Buildium is a unified property management platform that is simple to use. Its core features include the followings:
Business OperationsLeasingAccounting and PaymentsMarketingBusiness Performance
Depending on the options you choose from above, features will vary a bit. However, in general, you get the following functionalities with the Essential subscription suitable for HOA management:
Property management websiteMaintenance requests1099 e-FilingResident centerOnline paymentsPortfolio for property managersTenant screening
The HOA software is not just for residential societies. You can also use this tool if you manage portfolios like Student Housing, Affordable Housing, Commercial Properties, and Community Associations.
PayHOA
PayHOA assures you all-in-one functionalities and 100% online management of HOAs from anywhere. The software is suitable for all residential communities like small HOA, medium HOAs, large residential societies, and multiple communities. The resident association management tool includes separate modules for finances, finance management, communication, documents, and requests. It also comes with the following additional functionalities:
Custom website building and hosting to take your HOA onlineLockbox for digital scanning of checks and routing to processing centersAn electronic ledger that tracks all the checks processed through Lockbox
The tool is available for a 30-day trial period without any credit card. If you find the application satisfactory, you can subscribe depending on the units you need to manage. It has a flexible subscription scheme for 0 to 50 units, 51 – 150 units, and up to 301 – 500 units.
ADDA
ADDA is another comprehensive residential society management system offering billing, accounting, communication, helpdesk, and security. You need to get three different suits from ADDA to design an all-in-one HOA management system. These suits are:
ADDA ERPADDA GatekeeperADDA Clubhouse
ADDA also offers a proprietary mobile app, the Apartment SuperApp, for convenient HOA accessibility for property managers, residents, and service staff. The ADDA ERP is primarily for helpdesk, community communication, accounting, expense management, payments, billing, admin reports, HOA assets, and inventory management. On the other hand, ADDA Gatekeeper is for visitor management, service staff management, moving out, moving in, vehicle management, security integration, and emergency services. ADDA Clubhouse is your best friend for managing community recreational services like online venue booking, event access management, and clubhouse account bookkeeping.
Rentec Direct
Rentec Direct is a property management software with embedded features for HOA management. Its cornerstone services are for property managers, landlords, and tenant screening. A standard subscription to this HOA application will provide you with the following services:
A professional website for the resident community or rental needsFull-service accounting system including banks, properties, and tenantsPerform background screening of tenants before signing agreementsOnline payment portal for tenantsCloud-based real estate documents management
Its subscription system offers two products. These are Rentec Pro and Rentec PM. Rentec Pro is suitable for those who manage their properties. If you are an HOA board member, you can get this tool and assign an operator to manage all the operational and admin tasks. On the contrary, Rentec PM is for property managers who manage multiple property owners and their assets. It includes all the functionalities from Rentec Pro and additionally provides Owner Portal Mobile App and Trust Account Management & Reporting Services.
Smartwebs
Smartwebs is yet another trending HOA management applications provider that offers multiple solutions. Thus, depending on your resident association needs, you can choose from just a managing tool, an accounting tool, or an all-in-one software. SmartBooks is the proprietary HOA accounting software from Smartwebs. It automates time-consuming tasks of payment collection by offering online recurring payments, collection processing, payment reminders, etc. It also includes a vendor payment system. Smartwebs Management tool offers all the standard functions for non-financial operations for HOAs of any size. Its functionalities include Violations, Architecturals, WorkOrders, Communications, and SmartPortals. However, if you want an all-in-one app to manage everything, you can get the Smartwebs One Platform with the All-In-One subscription.
Yardi Breeze
Breeze is a refreshingly simple HOA management tool from Yardi Systems. Its tool has different features for different types of real estate assets. The followings are the asset classes that Breeze supports:
Residential CommunitiesCommercial SpacesAffordable HousingSelf Storage FacilitiesResidential AssociationsManufactured HousingPHA
You can use the Residential Associations tool for all HOA operations and administration needs. Its key features are:
Property ManagementCommunity TrackingMaintenanceAccountingFee CollectionAccounts PayableSetup and SupportAdd-Ons
Residential Associations software only comes with the Breeze Premier subscription. It has a per unit per month payment rate with a minimum monthly payment commitment.
Monthli
If you are looking for HOA applications growing fast in the industry, Monthli should be your first choice. First off, the HOA software is entirely free. If you want to save money from your residential societies’ operational and administrative costs, you can use this tool. It comes with unique HOA management features, and these are:
Rosters module for onboarding community membersCommunications with moderation tools and preferencesDocument management and physical mail delivery systemTicketing workflow for service requestsNotifications and remindersEvent scheduling and management
Though the tool is free, it provides optional paid services like insurance, third-party repair vendors, etc., to make money.
Condo Control
Condo Control is yet another easy-to-use HOA software that board members, property managers, and residents can use independently. Thus, HOAs save a lot of money on administrative staff. Moreover, everything works digitally on Condo Control, and you save expenses on paper documents. Condo Control suit has dedicated features to serve various real estate entities like Condos & Co-ops, HOAs & Communities, Management Companies, Security Management, and Facility Management. You can subscribe to the Condo Control Core plan for low-profile HOAs. On the contrary, get the Premium plan for high profile and large HOAs that need extra security, concierge, record keeping, and communications.
AppFolio
AppFolio Property Management modernizes your HOA with robust proptech solutions. It allows residents to manage their association without hiring external accounting or property management staff. The tool is also suitable for large community associations and commercial property management agencies. The AppFolio HOA software has all the functionalities so that you do not have to buy other software to aid HOA management. The tool can handle communications, housing repair service tickets, accounting, reporting, leasing, marketing, and management.
Concierge Plus
Concierge Plus makes life easier for security companies and property managers. This clutter-free HOA software offers new ways to make condo residents and boards happy while boosting the productivity of everyday HOA operations. The tool is available for various real estate asset classes like Condominiums, Gated Communities, HOAs, Multifamily Residences, and Property Management Companies. The HOA management app has been divided into three modules. These are Manage, Communicate, and Integrate. Though the tool displays hundreds of features, the pricing is not public. You need to book a trial or demo to get a personalized quote.
Conclusion
Reasons to invest in HOA software are countless. These tools enable you to connect homeowners, residents, landlords, and property managers efficiently. While the software helps you reach your residential community management goals, you also save some money. However, before buying HOA software, you may want to look at the above tools. These are some top choices in the market and provide you with standard features to run a homeowners association conveniently. Earthworks and constructions are two challenging heads that homeowners associations need to handle frequently. Hence, you may also want to check out these construction CRM tools and earthworks estimation software for future renovation projects.
