Property Management Software

With AI technology revolutionizing service industries at an unprecedented pace, the CAM industry stands on the brink of transformative disruption. Management companies that have adopted Cephai, the first AI solution built for CAM, are already experiencing it—from drastically reducing homeowner contact volume to streamlining time-consuming tasks like inspections. Cephai has empowered associations to boost efficiency and unlock new growth opportunities.

Those in the market for new CAM technology will find a sea of software providers, some claiming to offer innovative AI technology. How can decision-makers determine which are the real deal, and best positioned to drive meaningful business results? Look past the promises and buzzwords. 

“When you look at competitors, a lot of it is just AI washing—big promises without clear roadmaps or results,” says Brad AhChing, CINC's Senior Product Manager. “Because we were the first in our industry to bring AI, they’re trying to play catch-up, but we already have it.”

While others are still sketching roadmaps and making lofty claims, CINC Systems has been paving the road, delivering results while simultaneously building the future of CAM with Cephai and Cephai+.

Custom-Built AI, Tailored to CAM Needs

At CINC Systems, AI technology wasn’t an afterthought or add-on solution. Understanding early on that AI would be a critical driver of transformation for CAM companies, CINC’s robust engineering team custom-designed Cephai to be the cornerstone of CINC’s entire product suite.

“We’re not outsourcing or using third-party integrations,” explains Brad. “Any improvements we make are already within the framework of our code. Our engineers are all in-house. This gives us more control to make sure it works correctly, aligns with our vision, and follows strict security protocols to keep customer data siloed and secure.”

Customers who have embraced Cephai in the CINC Homeowner and Manager apps have already seen dramatic results like streamlined workflows, happier managers, and more satisfied clients. It’s just the beginning of what CINC Systems has in store.

Changing the Game—Again—With Cephai+

Cephai remains the undisputed leader in CAM AI, given its advanced generative AI capabilities—the ability to process data and deliver accurate, human-like responses (vs. chatbots programmed with basic algorithms and hard-coded answers). Think of generative AI as Cephai 1.0. Soon, Cephai will be able to perform tasks and automate complex workflows autonomously.

“We’re calling it Cephai+,” says Brad. “We're going to take things a step further and incorporate that ‘work mode.’” 

Cehpai+ will put almost science fiction-like capabilities at CAM teams’ fingertips, including:

• Touchless Accounting: Manual accounting tasks like invoice processing will soon be completely automated.

• Automated Reporting: Cephai+ will allow managers to analyze community data and generate board packets.
• Instant Inspections: Imagine snapping photos of properties and letting Cephai+ do the rest, including flagging violations, notifying homeowners, and managing escalation when needed.

It will all soon be a reality for CINC customers.

"We have engineers working on it as we speak," Brad says. "The way we envision AI is that it's not replacing people. It's empowering people to do more meaningful work."

If you asked any community manager why they chose a career in association management, they likely wouldn’t rave about answering the same homeowner questions repeatedly or spending hours reviewing CC&Rs. Yet, these tedious tasks often dominate their schedules, leaving them chained to their desks.

It’s a dilemma no one wants. Boards and homeowners expect more meaningful engagement, communication, and strategic support from managers; their satisfaction with the management company hinges on the service managers deliver. Meanwhile, managers are stretched thin, leading to widespread burnout, high employee turnover, and deferred maintenance in communities—a costly cycle that impacts both operational efficiency and long-term satisfaction.

Rather than adding headcount or overburdening existing staff, management companies can embrace AI technology that streamlines workflows and frees managers to focus on tasks that drive customer satisfaction, retention, and operational improvement. Enter Cephai, the AI solution that’s revolutionizing the CAM industry!

How Cephai Supports Community Managers Like an Assistant

• Quick data retrieval. Managers spend around 5 hours per week manually looking up things like, “How many violations does this homeowner have?” or “How many ACC requests are pending?” With the CINC Manager app, they can ask Cephai and get the answers in seconds.
  
• Efficient property inspections. During inspections, Cephai can provide instant access to past maintenance requests and violation histories, enabling them to complete inspections more quickly and accurately. 
• Streamlined homeowner communications. Cephai leverages community and homeowner data to draft email responses, saving managers up to 30 hours per week. With Cephai integrated into the CINC Homeowner app, homeowners can easily self-serve, reducing calls and emails to managers.

With Cephai handling routine tasks, community managers can focus on enhancing homeowner engagement and the community experience. They can educate board members through workshops and updates on priorities like budget planning and reserve funds. Managers can also organize social events, strengthening relationships and communities.

Improving Retention and Unlocking Proactivity

The bottom-line impact AI has on businesses is growing. McKinsey’s State of AI report shows that 72% of organizations now use AI, and 65% have adopted generative AI. Those in service operations, including CAM companies, report the most significant cost reductions; 34% cut HR costs by 10–19%.

Imagine how these AI-driven savings could impact your business. With Cephai, associations gain the time and resources to conduct comprehensive reserve studies and build emergency reserves. Deferred maintenance, the industry’s greatest challenge, can now be tackled proactively, as community managers have the bandwidth to perform thorough inspections of common areas—preventing costly repairs and maximizing return on investment. 

Cephai is free to CINC Systems customers and available now in the Manager and Homeowner apps, with even more efficiency-driving functionality coming soon. Learn more and take a tour here!

As tech giants like Google and Apple race to make Generative AI part of everyday life, homeowners’ demand for instant, personalized information and responses will skyrocket. The association management industry, like most other industries, will need to embrace it. But adopting AI is about more than just keeping up with the times. 

Investments in Generative AI technology like CINC’s Cephai can yield significant returns and transformative change quickly. Here’s what that might look like for CAM companies in the short and long term.

Month 1: Adoption Campaign Streamlines Homeowner Queries

After a CAM company adopts and launches Cephai in the CINC Homeowner app, it immediately notifies homeowners across channels like direct mail, Web, email, and signage. Instead of waiting days for their community manager to respond,, homeowners can now ask Cephai questions and receive immediate answers.

Month 3: Homeowner Contact Volume Decreases

As more homeowners turn to Cephai for questions about covenants, amenities, payments, and more, managers notice a significant reduction in calls and emails. Cephai saves managers 30 hours per week per association, reducing burnout and freeing time to focus on community and board engagement.

Month 6: Client Satisfaction and Retention Increase

Homeowner contact volume has now decreased by 80%. The CAM company sees a boost in client satisfaction as response times decrease and managers can focus on board education—a top concern among associations in CINC’s 2024 State of the Industry Report. With more time to spare, managers can help boards navigate increasingly critical issues like emergency preparedness, deferred maintenance, and new legislation.

Month 12: CAM Company Sees Broad Organizational Impact

Employee retention and overall morale are significantly improved now that managers are less overworked and can devote time to the more rewarding aspects of their careers. While business is booming, the company spends less money adding headcount than expected now that many manager tasks are automated. 

CINC Systems’ industry-leading security framework protects sensitive information and relieves leadership from data breach fears. Now that the company is using CINC, it no longer requires onsite server maintenance and the need for those IT resources. The combined cost savings allow the company to explore new revenue streams and other ways to sustain growth.

Long Term: CINC Partnership Fosters Continuous Innovation

Besides providing Generative AI technology and CAM software, CINC Systems closely partners with the CAM company to pioneer new solutions to future-proof the business and meet the industry’s complex challenges. 

The potential is endless.

Click here to discover how CINC’s Cephai can springboard your organization into the future, positioning you for sustained growth and innovation.

Choosing the right community management software is a crucial decision for community association management companies, and with numerous new technological innovations happening in the CAM space, it’s essential to ask the right questions to ensure you’re making an informed choice. At CINC, we’ve noticed a pattern of three core questions every bright-minded executive asks us in their evaluation. Here, we’ll address the top three questions people have when considering CINC Systems software.

1. How Can CINC Systems Reduce Manager Workload?

Managing a community association involves handling multiple tasks, from communicating with homeowners to overseeing projects and maintenance upkeep. One of the most common challenges property managers face is managing the workload efficiently without being bogged down by tedious work. That’s why every product in our roadmap for CINC Systems is solely focused on creating more meaningful career experiences for community and property managers.

So how do we do it? Well, we start by thinking about the way our homeowners consume information. The average American spends 5.4 hours on their phone every day, and 9 out of 10 of Americans own smartphones. That means everything we develop needs to be mobile first for the homeowner, board member, and community manager. Our custom-branded apps for homeowners and board members come with built-in generative AI, known as CEPHAI. This advanced AI technology is designed to handle routine homeowner inquiries and concerns, reducing call volume by up to 80%. With fewer incoming calls and messages to manage, managers can focus on more meaningful tasks, such as event planning, working one-on-one with board members, and helping to secure better financing options for boards.

2. How Does CINC Systems Work with My Bank?

Collaboration between community management software and banking institutions is crucial for seamless financial operations. At CINC Systems, we’ve made this collaboration effortless with our integrated endpoints.

Our integrated endpoints serve as the bridge between CINC Systems and your partner bank, creating a seamless collaboration that simplifies life for everyone involved. This integration ensures trust, efficiency, and clarity, allowing your banking data to be elevated through the power of CINC Systems. From daily account reconciliation to automated bank statements, we’re able to ensure homeowners and management staff are able to seamlessly manage payments and finances through just a few button clicks. With our integrated approach, you can expect a smooth and hassle-free banking experience, streamlining financial transactions and reporting that builds trust between the homeowner and the management company.

3. What Does the Software Switch Look Like at CINC Systems?

Switching to a new software solution can be a daunting task, especially when it involves transferring crucial homeowner and vendor information. At CINC Systems, we strive to make this transition as smooth as possible with our comprehensive onboarding process.

Our in-house implementation and training team offer the most one-on-one software transition experiences in the industry. We understand the complexities involved in migrating data from one system to another, and our team of experts is well-equipped to handle this task efficiently. With decades of experience in the association management space, our team specializes in project management, data migration, accounting, and training. Unlike other solutions that place the burden on the management company to handle the transition, our team at CINC Systems takes care of the transfer for you. All we need is a review from your team, and we’ll handle the rest, ensuring a seamless transition that allows your team to hit the ground running with our platform.

Choosing the right community management software is a significant decision that can impact your operations significantly. By asking the right questions and understanding how CINC Systems can benefit your community association, you can make an informed choice that aligns with your needs and goals.

From reducing manager workload with advanced AI technology to seamless collaboration with banking institutions and a smooth software transition process, CINC Systems offers a comprehensive solution tailored to the unique needs of community associations. Contact us today to learn more about how CINC Systems can help streamline your operations and enhance your community management experience.

You’ve probably heard the term “greenwashing,” a form of advertising spin that misleads consumers into thinking a product is eco-friendly. Those in technical roles may recall a similar “cloud washing” trend that began in the late aughts as companies sought to quickly jump on the cloud computing bandwagon. Deceptive messaging made it difficult for some decision-makers to look beyond the buzzword, and both practices prompted standard-bearers and even government agencies to issue warnings. 

Now, meet “AI washing,” a deceptive practice that prompted the FTC to warn marketers to “keep their AI claims in check.” But as AI becomes more ubiquitous, with a third of organizations saying they use generative AI regularly, overhyped solutions continue to muddy the waters.

Companies deserve to know the difference when choosing a SaaS partner, especially in the CAM space, where sensitive homeowner and financial data is involved. Let’s look at the fundamentals of true AI and red flags signaling AI washing.

What does real generative AI look like?

Congress defines AI as “a machine-based system that can, for a given set of human-defined objectives, make predictions, recommendations or decisions influencing real or virtual environments.” True AI solutions should be able to handle complex tasks, demonstrate human-like intelligence, and learn over time — not simply rely on pre-programmed templates or basic algorithms. 

Perhaps the more pertinent question is whether the “AI” product at hand provides real value. That was CINC’s guiding light when we built Cephai, the first true generative AI solution in the CAM space. We custom-built Cephai to provide the optimal homeowner experience and produce tangible business outcomes.

Cephai can handle complex tasks, unlike rules-based chatbots claiming to be AI-powered. Non-AI automation solutions don’t learn over time, whereas Cephai is capable of scouring countless data sources to generate intelligent responses and continuously improve. Solutions that rely on “if this, then that” business rules may be guilty of AI washing; asking about data requirements, training models, and outcomes or case studies is a great way to vet potential AI technology solutions.

Other signs AI claims may be exaggerated

Some companies tout their AI capabilities when, in reality, they have cobbled together a solution using third-party vendors. Developing AI products requires a robust team of specialists, like engineers with machine-learning skill sets. Ask to learn more about the AI talent on staff and, better yet, whether a tech-savvy executive team oversees security and long-term product strategy.

With the largest development team in the entire industry, we evaluate new innovations carefully with an eye toward security and providing the optimal homeowner experience.

Are you aware of the risks?

By allowing certain AI tools to access data, CAM companies can risk exposing sensitive information. For example, anything you share with ChatGPT can be retained and used to train the model, and companies like Samsung have banned it after unintentional leaks. Another risk of poorly implemented AI is introducing accidental bias.

AI vendors should be transparent about their data sources and back up security claims with credentials. At CINC Systems, we evaluate all new innovations carefully with an eye toward security, and are the only CAM software that’s SOC 2 Type II certified and Veracode Verified. 

How else is Cephai different??

Cephai isn’t an add-on; it’s now available in the CINC Homeowner app and is free to all CINC Systems customers. Cephai is available for both iOS and Android devices and can be fully customized with the customer’s branding. Best of all? It frees community managers from tasks like responding to routine emails, saving management companies up to 30 hours per week and freeing managers to focus on more impactful work.

Take a tour on our website, check out our webinar recording for details and frequently asked questions, or reach out to our team to learn more!

In the community association management space, maintaining the well-being and security of homeowners associations (HOAs) is paramount. With the increasing complexity of managing community affairs, technology emerges as a powerful ally in mitigating risks and enhancing efficiency. Association management companies can harness technological advancements to streamline operations, improve communication, and minimize potential pitfalls within HOAs – and as legislation updates loom while infrastructure needs have potential to financially strain homeowners, this conversation is incredibly important for all executives to consider within the coming year.

Enter technology. Association management software as a whole should mitigate much of the risk that can be burdened onto a HOA/COA board – so long as the management company is using a powerful solution that consistently innovates with the times. Here are just five ways in which HOA/COA software shields boards and management company employees from risk.

Digital Documentation Management

Traditional paper-based documentation systems are prone to errors, misplacement, and damage. Transitioning to digital document management platforms  that digitize the board’s financial reports mitigates these risks by centralizing important records such as governing documents, financial statements, and maintenance logs. Cloud-based solutions offer secure access to authorized personnel from any location, facilitating efficient data retrieval and minimizing the risk of physical loss or destruction. Additionally, version control features ensure that stakeholders are always working with the latest information, reducing the potential for misunderstandings or discrepancies.

Online Payment Portals

Delinquent dues and irregular payments can significantly impact the financial stability of an HOA or COA. Implementing online payment portals simplifies the dues collection process, enhancing transparency and reducing the likelihood of late or missed payments. Through secure payment gateways, homeowners can conveniently submit their dues, special assessments, and fees, minimizing cash handling and associated risks. Automated reminders can also be configured to prompt homeowners about upcoming payments, fostering accountability and ensuring consistent revenue streams for the association.

Maintenance Tracking Systems

Prompt resolution of maintenance issues is essential for preserving property values and ensuring resident satisfaction. Technology-driven maintenance tracking systems – such as CINC’s Portfolio Manager – enable HOA managers to efficiently log, prioritize, and monitor service requests from homeowners. These platforms facilitate streamlined communication between residents, vendors, and management personnel, ensuring timely resolution of maintenance issues while maintaining detailed records for future reference. By proactively addressing maintenance concerns, management companies can mitigate potential liabilities arising from neglected or deferred maintenance.

Community Engagement Platforms

Effective communication is fundamental to fostering a cohesive and informed community environment. Community engagement platforms provide a centralized hub for sharing announcements, event schedules, and important updates with homeowners. Features such as discussion forums, polls, and surveys facilitate active participation and feedback from residents, fostering a sense of community ownership and involvement. By promoting transparent communication channels through one centralized login, management companies can address concerns promptly, build trust among homeowners, and mitigate potential conflicts or misunderstandings.

Compliance Monitoring Tools

Regulatory compliance is a critical aspect of HOA and COA governance, encompassing legal obligations, architectural guidelines, and community rules. Compliance monitoring tools that can be integrated into a core software solution – such as VIVE Vendor Management Software – leverage data analytics to fully vet vendors used nationwide. Regular compliance audits and reporting functionalities provide management companies with valuable insights into potential areas of non-compliance, allowing for timely interventions and corrective measures.

The integration of technology within association management operations presents significant opportunities for association management companies to enhance risk management practices within homeowners associations. By leveraging digital solutions for documentation management, payment processing, maintenance tracking, community engagement, and compliance monitoring, management companies can streamline operations, improve transparency, and mitigate potential risks. To learn more about risk management within community associations, watch a recap of our webinar featuring VIVE here.

As it’s been made clear in our 2024 State of the Industry Report, the challenge of deferred maintenance can loom large, often leading to costly repairs, dissatisfied residents, and strained finances. Luckily, the software provided by solution providers has entered a new era where proactive measures can be taken to curb these issues effectively. Here are seven CINC products that we know help improve issues surrounding deferred maintenance with respects to better budgeting, clearer communication, and improved homeowner relations.

Budgeting Software: Fiscal Planning Made Efficient

One of the primary pillars of effective association management is robust budgeting processes within an accounting solution. Budgeting software from CINC, tailored for HOAs and COAs, enables meticulous fiscal planning, allowing boards to allocate funds strategically for routine maintenance and unforeseen repairs. By providing comprehensive financial insights and forecasting capabilities, these tools empower boards to proactively address maintenance needs and avoid the pitfalls of deferred maintenance.

Subledgers: Managing Special Assessments

In cases where special assessments become necessary to cover unexpected expenses or significant projects, subledger functionality proves invaluable. Imagine having the ability to track specific assessments on a separate Homeowner ledger(s) than the regular assessments. With CINC’s Subledger Tools, HOAs and COAs can accurately track and manage funds allocated for specific purposes, ensuring transparency and accountability in financial transactions related to deferred maintenance projects.

Portfolio Manager: Streamlining Project Scheduling

Efficient scheduling of maintenance and repair projects is essential for preventing deferred maintenance. CINC’s Portfolio Manager empowers community and property managers to streamline project scheduling, allocate resources effectively, and monitor progress in real-time. By centralizing project information and facilitating collaboration among stakeholders, Portfolio Manager keeps HOAs and COA on track with maintenance initiatives.

Banking Integrations: Seamless Financial Transactions

Smooth financial transactions are the lifeblood of CAM operations, especially when dealing with large maintenance projects. CINC’s banking integrations within management software simplify the process of managing incoming and outgoing payments, transfers, and reconciliations. This seamless integration enhances financial transparency and reduces the risk of errors or discrepancies.

Vendor Invoices: Payment and Relations Made Easy

Managing invoices from various vendors can be a cumbersome task for association management companies, and disorganized standards can cause issues with vendors. Seamless vendor invoicing modules such as VendorPay streamline the payment process, allowing management companies to efficiently track and pay vendors for their services. This ensures timely payments and fosters positive relationships with vendors, ultimately contributing to the successful completion of maintenance projects.

E-Voting: Engaging Homeowners in Decision-Making

Engaging homeowners in the decision-making process regarding maintenance projects is crucial for garnering support and ensuring transparency within the community. E-voting platforms such CINC’s integrated solution provide homeowners with a convenient and accessible way to voice their opinions, participate in surveys, and vote on important matters related to maintenance initiatives. By fostering community involvement and consensus-building, e-voting contributes to the successful execution of maintenance projects.

Violations Tracking: Monitoring Progress and Compliance

To effectively address deferred maintenance issues, it’s essential to monitor progress and ensure compliance with established guidelines and regulations. Through mobile-first violations processes within the CINC Manager app, managers, board members, and homeowners are able to track maintenance progress, identify areas of concern, and enforce compliance with community rules and regulations. This proactive approach helps prevent deferred maintenance from escalating and preserves the overall aesthetic and value of the community.

Deferred maintenance is understandably a huge concern in the community association management space. From recent legislation to rising costs, it’s no wonder that boards and management companies alike are concerned with developing the right approach to improving maintenance concerns. By embracing technology-driven approaches to budgeting, project management, financial transactions, community engagement, and compliance monitoring, HOAs and COAs can proactively address deferred maintenance issues, promote fiscal responsibility, and enhance the overall well-being of the community.

In the ever-evolving landscape of community association management, leveraging cutting-edge software is imperative for revenue growth, homeowner engagement, and the overall bottom line. But what in software is a nice-to-have, and what’s a must-have? It’s not the same answer as it was in 2022, that’s for for sure!

So as we step into 2024, let’s explore four software necessities that can transform the way community associations operate, enhancing homeowner satisfaction, board effectiveness, and overall management efficiency.

1. Generative Artificial Intelligence: Revolutionizing Decision-Making

In 2024, community association management is stepping into the future with the integration of Generative Artificial Intelligence (AI). Unlike traditional AI, Generative AI goes beyond rule-based systems, allowing software to generate creative and contextually relevant solutions.

Generative AI in community management will transform that way homeowners interact with the management companies. Sifting through a large PDF of CCRs is unbearable, and that’s why so many homeowners ask the most minute of questions to their management team. But if they can simply ask an AI tool, like CINC’s Sunny AI, call volume is greatly reduced and managers can focus on real community needs.

Why it Matters: Generative AI ensures proactive homeowner self-service, allowing associations to address issues before they become problems, ultimately creating a more harmonious living environment.

2. Custom-Branded Homeowner and Board Apps: Enhancing Communication and Engagement

To foster effective communication and engagement, custom-branded homeowner and board apps are indispensable. These apps serve as centralized platforms for residents and board members to access information, receive updates, and participate in community discussions.

Custom-branded apps not only reinforce the management company’s identity, but they also provide a user-friendly interface tailored to the specific needs of the board member and homeowner. Features may include event calendars, board invoice approvals and document repositories, all designed to streamline communication and enhance the overall resident experience.

Why it Matters: Custom-branded apps create a sense of community, improve transparency, and empower residents with easy access to essential information, fostering a stronger connection between homeowners and the association.

3. Automated Addendum Billing: Simplifying Financial Processes

Financial management is a cornerstone of community association operations, and automated addendum billing can significantly simplify this aspect while also ensuring no money is left on the table. This software feature automates the process of generating and distributing additional bills or fees, ensuring accuracy and timeliness.

By automating billing processes, management companies can reduce the risk of errors, minimize disputes, and improve revenue collection overall. This not only streamlines the workload for accounting staff but also enhances trust between the management company and respective vendors.

Why it Matters: Automated addendum billing minimizes financial discrepancies, saves time, increases revenue, and promotes a more efficient and transparent financial management system.

4. Mobile Management Tools: Empowering On-the-Go Efficiency

In an era where mobility is key, community association managers need tools that allow them to manage operations on the go. Mobile management tools enable managers to access essential information, respond to queries, and oversee tasks from anywhere, enhancing overall operational efficiency.

Mobile management tools need to give managers the ability to complete the bulk of their work from their phone – from property inspections to vendor communications and overall project management. By providing flexibility and accessibility, mobile management tools ensure that community and property managers can address issues promptly without having to run back and forth to a computer.

Why it Matters: Mobile management tools empower association managers to be responsive, agile, and efficient, ultimately improving the overall management of the community.

As we navigate 2024, integrating these four software necessities can elevate operations, foster resident satisfaction, and streamline overall efficiency. From the power of Generative AI to the convenience of mobile management tools, embracing these technological advancements ensures that community associations stay ahead of the curve, providing a modern and efficient living experience for all residents.

You’re halfway through the year, which means it’s time to reflect, reevaluate, and reignite your organizational goals. And if you’re fully on track to reach all your goals with respect to acquisition, profitability, and more, it’s not likely that you’re considering a change to the way you’ve been running your business. But let’s be honest; most of us are going to realize at this point that we’ve fallen short somewhere. This means we’ll have to play catchup, or we may have to revisit the numbers we put forth for our organization altogether.

Because of this, on top of competing vacation schedules, many executives feel that evaluating a software switch halfway through the year is a bad idea. Oftentimes we say to ourselves, “Now is not the right time.” But starting the software evaluation process now can actually reap the rewards for an association management company. Here are four reasons why you should review your software halfway through the year:

1.You may not be reaching your goals because of your software

Are interest rates dragging down your bottom line? Are you struggling to find new sources for revenue? Are you unable to meet the timelines expected of your clients? Many of these common concerns in HOA management can be resolved with the right software solution. So as you take your mid-year check-in to reevaluate your goals and progress, it’s vital to consider, how can these problems be resolved with a better software solution? The hard truth is that if you’re not hitting your KPIs but you’re not utilizing the most modern tech stack you could be using, you will likely never hit those KPIs.

2. You’ll know the pricing for your upcoming budget if you start now

“How much does it cost?” That’s the question every management company executive wants to know when it comes to new software – with the understandable assumption that improved software means increased price. The reality is that anyone who offers an instantaneous quote on a software solution for association management companies hasn’t taken the time to fully understand the needs of that association management company. The price of a software solution encompasses multiple aspects – from the banking partner to the organization’s current tech stack. And while it’s reasonable to believe that new software means a higher price point, that actually isn’t always the case. In fact, it’s common for the price of the software to be subsidized through banking partnerships and other factors. 

But here’s the reality – there’s no way you can wait until the fall to demo a product, understand the pricing, fit that price into your upcoming yearly budget, and get started with onboarding and implementation. The sooner you understand how new software would impact your upcoming year’s budget, the more prepared you will be to set forth with your new year goals and budget. 

3. You’ll have adequate time to try the system before a switch

Let’s face it – when it comes to a whole new software solution, one demo is never enough. You’ll need all of your key users to review the software – from the community manager to the accountant – and oftentimes, they’ll need to see the ins and outs of the solution more than once to fully appreciate how their day-to-day would look in this new technological world. So starting in the middle of the year for a new year launch provides the time needed to ensure your team is fully comfortable in the switch you are considering. It’s very important that when you’re making the switch, you have buy-in from your team. Sometimes to achieve this buy-in, you’ll need to discuss with them why this solution would improve their workload and enhance future career opportunities. This isn’t a conversation that should be rushed, especially if you want to ensure high employee retention. Because of all of these factors, starting sooner is always better in a software evaluation. 

4. You can have your new software solution launched in time for the new year

Finally, and most importantly, if you start your software evaluation halfway through a calendar year, it’s very likely that you’ll be able to launch the new year with a new software solution. The average onboarding timeframe for a software solution is 90 days, and after those 90 days, management companies can expect to have a month post-launch working with their project manager on a weekly basis to ensure all needs are met. Completing this process in the end of the year is very beneficial, because it means you’ll be able to focus on training and implementation during a period where activity is lower than average.

If you’re still on the fence as to why the middle of the year is a good time to begin a software evaluation, check out our example timeline to see how a software switch could look for your organization. And if you like what you see and you’re ready to learn more, let’s schedule your demo. 

It unfortunately happens all too often to CAM executives. After months of researching, consulting, and negotiating pricing, a new property management and accounting software solution is chosen for the organization. One thinks that all is well, and the hard work is done. But suddenly that hands-on approach experienced in the sales cycle is gone, and it’s impossible to get a hold of anyone. Suddenly there are extra onboarding and implementation fees not part of the original contract. Suddenly, what was sold as a few months of work turns into over a year, and the management team is drained to the bone.

Any time an HOA organization onboards a new software, there will be moments where staff feel overwhelmed and board members feel anxious about the switch. But there’s a difference between a few hiccups along the way and major concerns that will affect the long-term relationship between you and your software provider. Bottom line: if you don’t believe you can salvage your relationship because of the troubles happening in onboarding, you need to reconsider. A software solution is the lifeblood of your organization. It’s vital to make the right decision, and it’s never too late to change your decision.

But what is the difference between a mild concern and a red flag that should make you reconsider your software choice? Here are five red flags that should never be ignored during the software onboarding and implementation process:

There is no project plan

When you start the onboarding process with a new software solution, you should be introduced to your project manager. That person needs to be your go-to contact for every milestone related to the transition. They should begin your very first meeting with a clear set of milestones and timelines, ensuring that you and your team are aligned. If you’re never introduced to a project manager, or you aren’t aware of a project plan with time-bound milestones, you should be concerned. You as the client have the right to hold your new software provider accountable for onboarding in the timeframe agreed upon during the sales cycle, and you won’t be able to do this without a formalized plan in place.

Data migration is on you

One of the biggest red flags we see relates to data migration. Moving all the homeowner data and financials over from one system to the next can be extremely challenging if you don’t know what you’re doing, and there’s potential to disrupt business and frustrate homeowners during the process. That’s why, frankly, management companies shouldn’t transfer their own data. Data professionals should be hired within the software solution’s onboarding and implementation team; these team members should know the inner workings of multiple software providers within the CAM space and should be able to support your data transfer from end-to-end. All you should have to do is help establish access to the data, answer any clarifying questions, and check for accuracy.

You have to hire staff

This is another surprising red flag that we hear. Because complicated workflows had to be built to make the system work like the way it was presented to them during the sales cycle, executives had to hire staff to support the software switch. To be clear, there is work to be done during onboarding and implementation. It’s important for management companies to review HOA operating and governing documents, and one will need to set up essential protocol such as violations and collections. If an organization is at max capacity, there are times in which extra help is necessary for setup. But that should be a temporary, short-term project – not a long-term need. If workflows prove to be too complicated to complete on a regular basis, one may find the need to make a permanent new hire. This can drastically affect the bottom line, so executives should be wary of increased workload that seems ongoing.

The implementation team isn’t experienced in property management and accounting

Another challenge we hear in the industry with respects to onboarding and implementation is when the team at the software provider isn’t well versed in the community association management industry. When configuring accounting setup and training managers on new tools, it’s vital that the software provider is employed with true experts in the field who can explain processes and procedures that work for the real-life workload of a management company. If a software provider isn’t aware of all the industry nuances, management companies may be forced to hire consultants to provide better clarity to their teams. This is added expense that often isn’t broached in the sales cycle and can deter any potential cost savings to the organization. When reviewing software solutions, one should always ask the provider about the industry experience of their onboarding, implementations, and account management team – how many come from property management, how long have they been in the business, and who can they provide as a reference to discuss training and implementation success.

There is no strategy to communicate with boards and homeowners

Finally, one of the most challenging aspects of a software transition is the communication piece to clients. Boards and homeowners can be finnicky with change, especially if a bank change is also taking place. Software providers should be aware of the challenges management companies face in the communication process and provide supportive assets. While one should not necessarily expect a hands-on public relations team to work with you during the transition, customizable marketing assets and helpful talking points should be an expectation.

There’s always a way out

You may have reviewed these red flags and realized that you can check off 100% of these with your current transition. But you may be thinking, what’s done is done. After all, you signed a contract and are bound to your decision. Luckily, that’s not the case. If you feel like your onboarding process isn’t working out as planned and want to reconsider, talk to us at CINC Systems and we can discuss your options. But if you need a bit more convincing before you give us a shout, watch this recorded webinar of our onboarding and implementations team to see how we switch management companies to our solution without any of the above red flags.

The following is a message from our Chief Executive Officer Ryan Davis on the state of the banking industry following recent events – published March 21st, 2023.

“The past several days I have had the opportunity to speak to many of our bank partners around the country. Their resolve despite the adversity they faced was something I’ve come to expect. Most importantly, their dogged determination to ensure the confidence of our customers was paramount in their minds. I am grateful to each for their partnership and their action during a difficult time.

Through my discussions, I was continually struck by the unique nature of banking in association management. In most cases, the financial position of associations is solid. It is a source of liquidity for financial institutions. CINC Systems and our clients partner with banks on more than 30,000 associations and more than 90% are fully FDIC ensured.

While uncertainty prevailed the last several days, CINC Systems’ unique ability to provide banking as a service through our bank integration and payments platform meant continued business continuity regardless of the outcome. This gave our customers peace of mind – a sense of well being that was confirmed by our banking partners reaching out to client to ensure them their accounts were protected and safe.

While none of our customers have been impacted by the situation, we will continue to monitor events and work with our bank partners to ensure continued continuity and peace of mind for our customers.

As a company founded by a banker who wanted to better serve the community association management industry, we recognize the value of seamless banking to our clients.”

Making a decision about the software solution you use for your community association management company isn’t just about crunching numbers and pulling reports. Your software determines the workload of your management team, the customer service your homeowners receive, and the revenue opportunity your organization has to gain. That’s no business owner would take this decision lightly.

There are many questions one should be asking about software solutions as they are making their way through rounds of product demos and pricing conversations. But before you get down to the nitty gritty, there are eight questions you absolutely have to consider before moving forward with any software solution.

Question 1: How much does the software invest in ensuring your company and homeowner data is secure?

Why is this important: Your homeowners are providing you with some of the most personal data they have on themselves and their families. It’s imperative that you keep this data secure and private, and the cost of a data breach would lead to financial and legal devastation. You need to ensure that your software solution offers at the very least SOC 2 Compliance and a commitment to best practices in cybersecurity for their entire organization.

More Info: Insecurity: The Alarming Costs of Data Breaches in the Homeowner Space

Question 2: How user intuitive is the software? Will it be easy for your homeowners to use?

Why is this important: If homeowners are inundating your management team with simple questions, like how to process a payment or how to submit a work order, your managers will never have time to support the needs of their boards. Not only will your managers suffer, but their clients will be frustrated with the lack of communication. Homeowner tools provided by your software solution should be a one-stop-shop product that is extremely easy to self manage, and the only thing your managers should have to do is ensure that their boards promote the tools appropriately.

More Info: Five Ways Software Can Reduce Burnout

Question 3: What tools does the software provide to enhance the homeowner experience, such as e-voting and amenities booking?

Why is this important: Homeowner engagement is consistently cited as the top concern amongst board members, community managers, and management company executives in our State of the Industry Report. Without engaged homeowners, the community as a whole suffers and little change is implemented to uphold the neighborhood. Tools such as e-voting and amenity booking features keep homeowners involved and excited to work with their fellow residents. It’s also a great selling point for management companies when talking with prospective clients.

More Info: 22 Ways to use the HOAst E-voting Platform

Question 4: Can you reconcile your entire portfolio in one click or do you reconcile one HOA at a time?

Why is this important: Who has time to reconcile every association at a time?! Budget reconciliation should be a daily process that every management company can have completed with one button click. Not only is this a huge time saver, but it greatly reduces the chance of fraud and mismatched payments that can creep up on the accounting team at month-end.

More Info: How Integrated Accounting Helps Manage HOAs

Question 5: How does the software make it easier for your employees? How do you plan on training them?

Why is this important: Employee retention is a huge challenge in community association management, and the software you use should only make their day-to-day easier. Processes need to be intuitive and mobile-first for community managers so that they can complete the bulk of their workload while visiting their properties. What’s more, it’s extremely important that the software solution you switch to provides you with a professional trainer for your team to guide them through the transition. Your team should have the time to know all the ins and outs of the new system and be guided in every step of the way, so that once you officially go live, you’re off and running without disruption.

More Info: Let’s Talk POPS (People Operations)

Question 6: How long is the average onboarding experience? Who do I work with on a regular basis to discuss my account needs and technical questions?

Why is this important: Switching software isn’t easy, but it shouldn’t disrupt your everyday business. It also shouldn’t take a painstakingly long time. The average onboarding period in professional organizations is about 90 days, so anyone who tells you longer should be a red flag. Software providers should also ensure you have a dedicated project manager, someone who will transfer homeowner data for you, and a full team to train you on accounting and property management solutions.

More Info: Switching Software Should Never Disrupt

Question 7: How does the software ensure you are capturing all the ancillary revenue you could be receiving?

Why is this important: A strong software solution isn’t a sunk cost. It should actually be driving revenue for your company. Whether it’s through addendum billing or accounts payable processes, there are many revenue streams available to you through superior technology. When discussing your software solution options with a potential partner, they should be able to highlight for you ways in which you can generate more revenue after making the switch.

More Info: Four Reasons Why Management Companies Don’t Grow

Question 8: How has the software evolved and grown in the last decade? Can it continue to grow with you?

Why is this important: There are many CAM software solutions that haven’t updated any systems in decades. There are also many in startup mode. Neither of these solutions will be able to grow at the pace needed for a sophisticated management company. Executives need to ensure that the software solution they choose for their organization can grow with them. Companies that aren’t innovating product offerings now probably won’t innovate any time soon, and companies that are just getting started in the industry won’t have enough capital to keep up with expenses, meaning that their innovations will dry up fast.

We hope that this information will better support you in your software buying journey, and for a more detailed review of all of the considerations needed in CAM solutions, read up on our Ultimate Buyer’s Guide.

New year, old problems? That seems to be the case, at least when it comes to one of the most relevant topics of the last two years: reserve funding and reserve studies. In the wake of the tragedy at Champlain Towers South came a crop of new legislation and regulations around residential building maintenance, and with it, talks about how reserve funding continues to be an afterthought for so many HOAs.

While it may be a new year facing old problems, it’s not going to be a year spent spinning wheels with the same rusty old tools. New year, old problems…new solution. In 2023, CINC Systems is integrating with a groundbreaking product revolutionizing how community associations handle aging infrastructure and reserve funding: SmartProperty’s The Living Reserve Study®.

Steering Away from Static Reserve Studies

One of the most intriguing results to come from our 2022 State of the Industry survey last year was the realization that while many communities claimed to be 100% funded or in some way adequately contributing to their reserves, not enough communities had performed a reserve study within the last five years (or ever!) to make that claim accurate. Unfortunately, without up-to-date benchmarks and metrics to check against, it’s unlikely these communities are as well-funded as they believe.
Reserve studies are static in nature. They don’t change, and they only tell you what you need to determine your budget contributions in the year they are developed. But the world around you changes constantly, so why would your funding plan remain static? If a reserve study doesn’t account for changes in the economy, community components, or HOA finances, it’s not worth much as a planning tool beyond the initial release.

Imagine if the same real-time understanding of a community’s financials that you gain with CINC were available for your reserves. This new integration provides both managers and boards with a deeper level of insight into reserve spending, future planning, and funding needs, just as you have come to expect from your CINC financials. With real-time financial data and component health histories, you can better predict expenses before they come and are more aware of the community’s financial capability to handle those costs. Knowledge of the true state of their live financials gives boards the power to plan effectively, make data-backed decisions, and fund their reserves accurately, which is exactly what The Living Reserve Study® offers to CINC customers.

Forging the Path Ahead

As more and more states begin to pass laws dictating reserve analysis timelines, funding requirements, and infrastructural health expectations, communities need to be vigilant. Relying on a single study from a decade past isn’t cutting it–for anyone. From the rising cost of living to the ever-climbing inflation rate, costs of goods going up, and insurance rates following suit, prices from even a year ago are no longer viable.

In order for community associations to better manage their reserve funds and combat aging infrastructure, they need more than just a single, unchanging reserve study once every 6+ years. Realistically, they need a tool that helps facilitate cost containment rather than the band-aid solution of increasing monthly fees when unexpected costs arise. Community management tools should also offer issue identification and resolution, including plans of action to accomplish those resolutions.

Without basics like these, HOAs and condo communities are being handed a stack of short-term suggestions that steadily become valueless and act as a detriment to community funding.

Give Your Community the Gift of the Living Reserve Study®

This new year, treat your community to something it greatly deserves: the gift of financial empowerment. Now is the time to get serious about reserve funding and combating aging infrastructure in communities. HOAs can’t afford to make mistakes when it comes to reserve funding. It is important to use the tools available to you to get serious about planning for the long term. HOA boards deserve better tools to support their long-term financial health, and CINC is proud to bring those tools to our clients with this partnership with SmartProperty.

Remember the original installation wizards of early computing days? There were dozens of steps, and while most of the time you could get away with simply clicking “Next >” over and over again, many wizards required some level of real technical understanding.

Those wizards got way more complicated before they got simpler, because customization was a huge push for “personal computers” –how can something be “personal” if you can’t personalize it, right?

That got old relatively quickly.

The modern world is all about simplification. Today, everyone is walking around with a personal, pocket-sized computer everywhere they go. They can use it to pay bills, buy food, order rideshares, even track their physical health–and that isn’t even what the thing is functionally sold as! What part of “phone” is supposed to mean “all-in-one life device?”

We live in an age where that level of simplicity is not only desirable, it’s expected. HOA tools should be just as user-friendly, but the reality is that very few truly are.

Customizability is NOT Simple

For most cell phone users, core daily functions are all nearly automatic. The most popular apps on the most popular phone providers tend to be incredibly user-friendly right “out of the box.” There is no heavy lifting required to get the app onto the phone, or to get the app running the way it’s supposed to run.

Many community association management (CAM) platforms claim they operate in the same way, but when push comes to shove, that isn’t the case.

Several major providers to the CAM industry today sell the concept of customization. In theory that sounds great! Who doesn’t want to pick and choose which important tasks they prioritize in their chosen management tool?

The downside? Very few people actually have the developer or computing knowledge to customize those workflows efficiently. The setup relies on those same, outdated installation wizards of Old Tech, and expects everyday users to know the right steps of services needed to make their tasks pain-free. Completely unrealistic.

If something is going to be labeled as “efficient,” it should not require a background in computer sciences to accomplish that goal. CINC doesn’t expect you to build your own software–you are not a developer, nor should you have to be.

The CINC Difference

The originator and maintainer of bank integration combined with being the only open-source platform serving the CAM industry with 130+ APIs.

For non-techies, that probably doesn’t sound terribly impressive, or even make a lot of sense. But we promise, it’s pretty huge.

Being “open source” means that any third-party providers can connect via API with CINC without requiring additional logins. Fewer logins mean fewer clicks and an even smoother experience for every user.

APIs (Application Programming Interfaces) are the connective tissue that allow CINC Systems to easily communicate with outside platforms. resale documents, vendor management, ticketing systems, all examples of industry-leading tools and providers who can easily and quickly plug into CINC’s platform, further allowing CINC to be a single source for community managers and their homeowners.

Additionally, auto-reconciliation specifically is a feature that CINC’s deep banking integration heavily supports. Where many platforms claim to handle daily auto-reconciliation, it tends to be less automated than a community needs. Many providers, for example, can only auto-reconcile a single community.  So a user could handle daily auto-reconciliation for a whole community, but an entire portfolio would require potentially dozens of extra button pushes or screen taps. CINC’s robust bank integrations make portfolio auto-reconciliation a standard in the system.

There’s no excuse for clunky technology today. Society has advanced far beyond the days of 15-step set-up wizards, and the CAM industry can rely on CINC Systems to continue that ingenuity for their HOA needs.

In early 2022, CINC conducted a survey of community managers, management company executives, and board members throughout the country, with the goal of determining the State of the Community Association Management Industry. The feedback and responses indicated several common interests amongst community association trustee boards, including acquiring highly-specialized (but potentially unnecessary) technology.

The community association management industry has traditionally focused on a few key areas for the last several decades. Topics like the cost of business, competitor tracking, and recruitment have held the attention of management companies, while concerns such as homeowner apathy and delinquency rates have typically plagued community associations.

These areas were high on the lists for both groups in CINC’s 2022 State of the Industry survey, but one other topic stood out among board members’ interests: advanced technology.

Right Motivation, Wrong Situation

Historically speaking, technology is an area where community associations have trailed far behind the curve. There are a lot of speculative reasons for why that is, from board reluctance due to limited time and budget, to cost, to just the general aversion to learning new technology we all inevitably face. So to see high-end, highly-specified technology tools listed as desires for board members was quite surprising!

It all came down to community preservation, and keeping residents safe and happy. Here were three of the answers that really stood out among the rest:

• Intelligent Mail Barcodes to ensure accurate mail delivery
• Thermal imaging cameras for leak investigations
• Variable Frequency Drives (VFDs) to regulate AC and save energy

These are so unique and inventive–especially considering most communities are still reluctant to adopt technology basics, let alone tools that ensures that the post office delivers more efficiently!

But while it was great to see such a strong interest in new technology, it seems that boards might be focused on the wrong areas when it comes to supporting their residents.

Building a Strong Foundation

When asked what kind of technology boards would like to use that they don’t currently have in place, 15% listed communication, a crucial component in community success, as one of those needs. Access control, another necessity, came in at nearly 20%, as did fire suppression technology. All of these have the potential to go above and beyond, but their core functions are the basics of a quality residential experience in your community.

So what’s the difference? What makes fire suppression technology more important than energy conservation or leak awareness? How is intelligent mail NOT the same as communication?

In an ideal world, all of these tools would be in every community–because it is true that they overlap in many ways. But that overlap is exactly where the issues arise.

When it comes to seeking out new technology for your community association, the most important consideration should be the result you want to achieve rather than the task you want to complete.

This is because operating on a task-oriented basis can create issues like data or communication silos, or duplicated costs/efforts. For instance, something like a leak locator could absolutely be beneficial, but the cost might not be worth the output. Ideally, your community is already doing something to seek out those leaks: routine maintenance, annual property assessments, and a reserve analysis every few years, just to name a few. Each of these tasks should warrant the same answer, or at least keep the community informed about when pipes may begin to leak.

Finding solutions designed to generate a specific result typically helps you find tools that serve multiple masters, or achieve a goal using a variety of approaches rather than a single focus.

3 Results-Driven Tools Your Community Needs

Using results as the motivation for your community, here are 3 modern technological marvels that your community should be considering for 2022 and beyond:

A Tool to Simplify Community Finances

The board’s fiduciary duty is a critical component of board membership, and financial responsibility is no easy task. Utilize a tool that offers important financial necessities like daily reconciliation, accessible financial reporting, and lockbox services. Boards should also consider a tool that offers a comprehensive banking integration to truly add simplicity to your financial awareness for your community.

A Tool to Streamline Community Maintenance

The long-term health of a community is more important now than ever before, but that doesn’t mean community maintenance tracking is suddenly a breeze. Communities still working without visibility into the community’s maintenance needs or the ability to manage work orders quickly and easily should make a tool with these features a priority.

A Tool to Increase Community Engagement

Community engagement is the clearest example of results vs tasks. Engagement with your community results from combining tasks like phone or mail communication and creating self-help options using access control. A communications tool should offer homeowner document access, multiple types of direct communication functions like email sending and tracking, platform messaging, and call logging just to name a few.

Building the Basics and Beyond

If your community already utilizes these results-oriented technology tools, you’re ahead of the game! And if you’re still thinking about bringing on more specialized technology, make sure that it’s for the right reasons. Take time to evaluate the success and general functionality of the tools you already have in place and the reasons you’re looking to take on new tech.

If you find that it’s because there are gaps in your current platform or because your current technology isn’t performing the way your community expected or needs, hold off on bringing in new players. Consider first switching providers for your core technology to find a better fit before adding on more. Building atop a bad foundation is a surefire way to create problems long-term.

Whether you’re looking to start your community’s technology journey off on the right foot, or need to find a new technology partner that better fits your needs, CINC Systems is here to help. Click here to learn more about how CINC can support communities through powerful technology.

For more information on how to reevaluate customer satisfaction, take a look at our full customer service white paper.

For many parents, it’s the most wonderful time of the year (remember that commercial from the 90s?!) Kids are heading back to school and schedules are returning back to normal. While January is usually the epitome of the “new year, new you” model, back-to-school means back-to-work for many. Within a community, this is also the prime time for your homeowners association to get ready for the upcoming 2023 year.

Why Prepare Now?

At the end of the summer season, budgeting begins for most boards. This means reviewing your previous year’s expenses, vendors you’d like to pursue, and major projects your community should be planning for the upcoming year. In addition to preparing your next year’s budget, it’s also time to think about who will be on the HOA/COA board for the upcoming year. These are volunteer positions that can take up a lot of time outside of work and family, so oftentimes, boards turn on a yearly basis.

What To Consider for your Next Board Election

While one may think that homeowners are consistently engaged in the election process, it can actually be quite challenging for communities to achieve quorum. Quorum means that there is a proper majority of homeowners who have participated in the HOA/COA board election for the vote to be considered valid. This can be challenging to achieve for a multitude of reasons, including:

• Homeowners being unavailable during the election timeframe, especially if a community is fraught with short term rentals and investment properties
• Tracking down homeowners for in-person elections that they may not be able to attend
• Managing a paper trail of votes that can tie up expenses and time for the boards

That’s why it’s so important to consider all of the facets related to your board election process, and completing this evaluation now will have you up and ready for a new year. Questions you may consider include:

• Did we achieve quorum last year? Is there anything we can do to better engage our homeowners in the election process?
• Does my state offer e-voting options for HOA/COA board elections, and if so, is my board taking advantage of the opportunity?
• How much did it cost to process the previous election, and is there any way to reduce spend?
• What communication tools are available to us to engage homeowners in the election process – highlighting the importance of elections and their involvement?

Let Us HOAst Your Next Election

If you’re dreading your upcoming board election because of the manual, time-consuming processes and the inability to engage homeowners, consider HOAst. It’s the only e-voting platform in the community association management industry fully integrated into a software solution, enabling your homeowners to vote directly from their custom branded website. In addition, your boards and management company can assist in spreading the word about your election through real-time tracking of votes, setting up reminders to those who haven’t cast their vote and keeping you informed of the process. To learn more about all that HOAst has to offer, review our product tour and offering here.

In early 2022, CINC conducted a survey of community managers, management company executives, and board members throughout the country, with the goal of determining the State of the Community Association Management Industry. The feedback and responses indicated several common concerns for the future of the CAM industry, and highlighted a variety of interesting issues including the desire for more comprehensive personal property security technology in HOAs and condo associations, and the lack of understanding surrounding other important types of community security.

These days, just about everyone has some kind of personal security technology. A digital password saver & encryption service, a doorbell camera, security cameras in their homes–they’re everywhere. So it makes sense that when it comes to the greater scope of protection (beefing up community security), many turn to these same tried-and-true technology-focused solutions. But at the end of the day, a doorbell camera just isn’t going to cut it.

In a recent webinar, “What’s the Worst That Could Happen?” CINC Systems and VIVE Vendor Management Services had the opportunity to speak about the real threats community associations are facing today, and VIVE’s recommendations on what security options are actually going to make a difference in the CAM industry.

Mitigating Liability & Insurance Risks

Every time someone sets foot in your community, you’re assuming a level of risk. When it comes to hired service providers, like landscapers or pool maintenance technicians, the community is assuming a level of risk related to the vendor’s professional accreditation. Verifying that the vendor is properly insured and licensed to do the work legally of course, and guaranteeing that if something goes wrong, the association (and management company!) isn’t going to face a loss.

Similarly, having your own up-to-date insurance is the key to avoiding liability in the event a non-vendor who enters the community encounters some kind of accident or harm.

What’s the Solution? Generating and implementing a vendor compliance program (and hiring a team to maintain it). With a vendor compliance program in place, your vendors are all expected to meet a certain threshold of requirements before ever setting foot in the community. This can include maintaining good standing with local government and certification boards, ensuring their licenses and insurance meet a certain amount of coverage, or taking the time to go through local reviews and verify their success and professionalism. Whatever the steps of vetting look like, creating that framework for vendors to match with is going to be crucial in ensuring long-term success for future vendor relationships in the community.

Garnering the correct insurance will also be an important step.

Protecting Homeowner Information

The amount of data HOAs and condo associations handle can be a little unsettling. Everything from bank and credit card information to PI like phone numbers, emails, and alternative addresses–all of it has the potential to live in a homeowner’s community data repository. And all of it can be so incredibly vulnerable. Without a dedicated technology partner assisting in locking that data down, the information is often one phishing email away from being stolen by hackers. And with how pervasive (and convincing!) phishing emails have become in recent years, it’s now fairly common for even tech-savvy board members to accidentally click the wrong kind of link.

What’s the Solution? Training, training, training! It always comes down to education at the end of the day. Ensuring that board members and community managers are not only knowledgeable about what kinds of cybersecurity threats are out there, but how to spot and avoid them, is a critical component of keeping homeowner data safe. So is partnering with the right technology solution. Taking some of that responsibility out of the hands of the board and giving it to trained professionals who have a stronger grasp on protecting data can make a massive difference.

So, Do You Have $10,000 to Spare?

This was the big question posed to viewers of “What’s the Worst That Could Happen?” And admittedly, that $10,000 is small potatoes compared to the real monetary losses a community can face. But the powerful question still stands: Can your community afford to skimp on the protective services they need to keep homeowners and their information safe? If all you want to add to your condo building or cul-de-sac are more cameras or a gate, there’s a good chance you’re trying to solve the wrong problem. Reach out today to have a conversation about the best security options available to your community.

When reviewing the right software solution for your community association management company, you may be wondering why choosing a solution specific to the CAM space is so important. It may seem alluring to purchase cost-effective off-the-shelf software, especially if you’re a smaller company. Or, some owners who manage rental properties may opt for one simple package understand the impact CAM-specific software can make.

The CAM Industry is Always Changing

HOA and COA laws are consistently changing across the country, and these changes affect regions differently. For instance, California-based management companies need to be highly considerate of GDPR laws when asking homeowners to opt into communications, and EDD reporting requirements mean that many software providers cannot adhere to the needs of the state. HOA e-voting laws are also in flux, and it can be challenging for company owners to keep track of what’s happening within their state. When a company is using a software solution dedicated to the CAM industry, they are equipped with a team of professionals who are well aware of changing rules and regulations, and these professionals ensure that the software they offer comply with the ever-changing rules.

HOA Management and Property Management are Drastically Different

The skills and experience needed in HOA management versus rental property management are quite different. Community managers, who service their respective HOAs and COAs, are responsible for carrying out the needs of their boards, while managers over rental properties are directly working with tenants. Property managers for rentals focus individual responsibilities and tasks, such as house/apartment maintenance and urgent repair needs. The responsibilities of a community manager are far more extensive, as they are supporting community needs through vendor management, board requests, and the enforcement of tasks from the HOA boards. That’s why there is extensive education and certification needed in community management versus general property management.

As one can imagine, when a software provider offers broader service, their level of expertise decreases. So when one is utilizing software from a provider that focuses on rental and HOA management, they aren’t receiving the same expert-level service other providers can offer. This may result in product offerings that aren’t specifically geared towards community management, such as homeowner mobile apps.

Getting the Best Service in SAAS

Finally, the service offered through software providers dedicated to the community association management space is truly second to none. Not to toot our own horns (but we will for a moment!), the Account Management team at CINC Systems is comprised of former community managers and management company owners who are true experts in the field. They offer one-on-one support to their clients not only to resolve technical questions, but to brainstorm ways they can support business growth plans for the company. All of this is wrapped into the cost of CINC’s solution – not as an add-on sale. And this type of dedicated service is what one misses out on when they buy software that just gets part of the job done.

To learn more about the benefits of CAM-specific software – and to get a full rundown of everything to consider when choosing the right software for your management company – check out our Ultimate Buyer’s Guide for community association management.

The second quarter of the year is always the time for reflection, rejuvenation, and a thorough review of the goals you put into place when you first completed your business plans back in the fourth quarter. Regardless of how successful of a business owner you are, every entrepreneur misses the mark on at least one goal they had set forth for themselves. The big question one must answer is, “why?”

As you consider your progress in the past quarter, you’ll be left wondering what held you back from the achievements that seemed all too doable less than six months ago. Perhaps you weren’t able to fill a community manager role that’s been left open for far too long, or perhaps your customer service doesn’t seem to be improving. What are the reasons these goals aren’t being achieved, and how can you make changes to your yearly plan to accomplish what you’ve set forth for yourself?

Technology may be the key

Many goals set forth for a business, on the surface, seem like a strategy in which your tech stack is irrelevant. But after a careful review, a technology enhancement may be the key to unlocking these achievements. Take the two examples above: hiring an important role and improving customer service. New hires values companies who embrace innovative technologies that put people at the forefront. They want to know that the software being used at their community association management company will be one that will reduce their task-heavy workload and provide self-service tools for homeowners. If you weren’t able to snag that awesome hire for your company, and you’re using fragmented software that hinders their day-to-day, perhaps that’s the reason.

Another example is improving customer service, which is a hot topic in community management nowadays. Perhaps your homeowners were reeling with complaints last quarter because they couldn’t figure out how to process a payment, or their payment was misapplied to another account. Are these types of complaints actually service issues, or are they issues related to the technology you’re offering to your homeowners and board members?

Why your technology decisions matter most right now

Oftentimes we speak to management company executives who know that their software is on the outs, and that eventually they will need to make an upgrade. Yet they continue to put off this decision because they are concerned with the disruption a switch will cause to their business and personnel.

If you’re in this boat and have yet to choose the right software provider for your company, now is the time to make the decision. Making a software change is a significant change process, regardless of how seamless the onboarding and implementation experience can be. If you decide on a software provider for your accounting and community management experiences now, your team will have the remainder of the year to become fully acclimated to new processes that will help your business soar for 2023. So if you make the right decision this quarter, you won’t be left reconsidering your options at this same time next year.

That isn’t to say, of course, that a software change won’t positively impact your current year. Making the change while incorporating feedback from your team will improve employee morale and support you in your hiring and retention goals. Having a dedicated training and project management team supporting your employees every step of the way through the change will also provide new processes and efficiencies that you may have not considered before that will greatly impact productivity. Implementing a fully integrated banking experience will reduce your chances for mismatched payments and fraud, which will greatly improve customer service and position your company with strong selling points for prospective HOAs and COAs. And utilizing tools that create seamless reporting experiences for board members will significantly impact client relations and homeowner engagement.

All in all, making the right decisions now for your technology will create a lasting impact for your company’s bottom line. To support you in making the right decisions for your company when reviewing software options, we’ve laid out all the steps you need to take and the questions you need answered in our Ultimate Buyer’s Guide.

It’s that time of year when your team is gearing up for the growing season. Common areas need to look pristine and some of the best amenities within your community are about to open. While this is an exciting time for homeowners and board members alike, it can be quite stressful for community and property managers. There’s so much to do to get ready!

Today’s Portfolio Managers use a variety of tools such as email, Word, Excel, and maybe even paper to manage the tasks of their communities and their contracted responsibilities. Using these tools can be cumbersome for the manager and add significant work when trying to keep Boards updated on the progress of association business and projects. What’s more, they do not provide a way for Senior Management to maintain oversite of their team or develop standardized business processes.

A little bit of help goes a long way.

Knowing this struggle, CINC Systems has created a solution through the Portfolio Management System. The Portfolio Management System is an effective tool for managers, helping them to be more efficient and stay up to date on their tasks. The module also provides easy oversite for Senior Management, giving them the ability to efficiently review the status of the communities in the management company’s portfolio. The system centralizes data and creates management reports to the Board members.

Here’s what you can do with the Portfolio Management System:

• Weekly and Monthly Board Management/Status Reports
• Automated Email Reminder Options
• Management Plan Creation
  • Action Items/Tasks automatically created from the Management Plan
• Maintenance Calendar Creation
  • Schedule Maintenance Requirements
  • Action Items/Tasks automatically created from the Maintenance Calendar
• Action Items/Task Management
  • Created by Management Plan, Maintenance Calendars, or by Users
  • Management and Board Items
  • Ability to add notes and attachments
  • Ability to assign tasks to other users
  • Auto Generated Reminders
  • Status included on Weekly and/or Monthly Reports
  • Ability for Senior Management to have oversite on all clients

Would you like to gain a better understanding on how this powerful tool can positively impact you, your team and your clients? Please contact your account manager to schedule a demo and learn more about the Portfolio Management System. After all, a little bit of help goes a long way.

In the SaaS world, the term ‘tech stack’ is thrown around on a regular basis. In community association management, it may seem like a bit of a foreign concept. Yet anyone who is working in community management is using one of the most important tech stacks across any industry.

To put it simply, a tech stack is a combination of technologies that run a business. From accounting to communication to project management, every piece of technology you use to manage your organizational needs is a part of your tech stack. Let’s say you were asked to list out your tech stack. At first you might think you only have a few tools in your arsenal. But once you consider every aspect of your business – from email to direct mail to social media – the list adds up. That’s why it is so essential to fully understand the investment you have made within your stack, how your team is using each tool, and the levels of integration within each tool that offers a seamless experience for your employees and your homeowners.

When a tech stack is built right for a company, business owners should see a streamlined process that builds efficiency which in turn builds sales. But when built wrong, clunky process can lead to a waste of time and money. To know if you have the tools stacked in your favor, follow this quick guide to see how you can improve the ways in which you and your team uses your tech stack.

Understand the goals behind each tool

Review the tools you have within your tech. Why did you initially make this investment? How did it align with your business goals? Has this tool effectively supported you in achieving said goals? If you find that something within your stack is no longer supporting your business needs, ask yourself why. Perhaps you were never fully trained on how to use it efficiently, or perhaps the software is no longer in line with modern technologies. Take this time to evaluate what should stay, what should go, and what should be replaced.

Once you complete the above exercise, you may find that you need to replace some of your technology with a more modern approach. As you evaluate new tools, ensure that you are laying out concrete goals for the technology. Perhaps you want to provide month-end reports by the first week of the month to your boards, or perhaps you feel that updating your software will provide a competitive edge that will add a certain number of new clients to your portfolio. When it comes to a tech stack, it’s easy to get excited about shiny new objects and purchase products you end up never needing. That’s why it’s so important to have concrete goals for every tool in your arsenal, and it’s important to hold yourself and your technology accountable in achieving those goals.

Know what you’re getting into

Any time you add something to your tech stack, you’re not just turning on a button and calling it a day. You are changing a process for yourself and your team. One of the biggest mistakes that companies in every industry makes when it comes to a tech stack is adding a new tool without allotting enough time for training, implementation, and routine management. It’s important that your team is aligned with your goals behind your technology and is also aware of the reasons why you are making the investments you have chosen for your business, so be sure to communicate your goals with them. Allot enough time for training for your team so that they feel fully comfortable using the new tool in their daily routine. If you are switching software providers, your new provider should be managing this transition process for you with one-on-one detail and a dedicated project manager. After the technology has been implemented, regularly check in with your team to see if they are using it to their fullest potential. It’s easy to forget that you have a tool under your belt when you’re immersed in business as usual; that’s why it’s so important that everything within your stack IS considered business as usual to your team.

Be sure you have the support you need

You’re a small business. You cannot and should not be sold into a new piece of technology without a person behind that technology supporting you every step of the way. As you’re evaluating new technology, ask probing questions to your salesperson regarding the level of support you would receive during and after implementation. Be sure you understand the training process, the handoff between onboarding and account success, and how you’ll be able to reach a support agent when you have a question or urgent need. After all, at the end of the day, a piece of technology is only as good as the people behind that technology.

While evaluating and adding to your tech stack may feel overwhelming, when done right, the results are incredible. If you’d like tips from the experts on how to manage a tech stack in your favor, read up on the case study from our client, Community Management Associates, Inc.

“This is going to be my year!” is the rallying cry for many at the start of January. But after everything we’ve been through in the past couple years, we’re likely going to cautiously tiptoe into 2022 and hope for the best. And while we can’t do much to impact grocery prices and COVID variants, a lot can be done to impact homeowner apathy and community involvement, which in turn drives profit for association management companies. That impact comes as a result of the latest addition to CINC’s portfolio, the HOAst e-voting platform.

You may be thinking that e-voting is something that is done only once a year, so what’s the point in looking into HOAst until your upcoming annual election? In fact, the features within HOAst are so interactive that it can be used year-round to ensure that your homeowners have their voices heard. Here are 22 ways your boards can use HOAst this ‘22 year – some of these may be available in Pro or MultiPro, but you can ask your account representative about the differences to see which one is right for you:

1. Send a poll to pick your spring social theme. Drive connectivity now by sending a quick poll to homeowners to see what they want to do for a spring get-together. The options are endless, from a food truck party to a kickball tournament.
2. Create a board member voting group. Sometimes even achieving a quorum on the board can be tricky, considering how busy everyone gets. Create a voting group just for boards to gather results for topics discussed at the last meeting.
3. Bid management and selection. When completing a project in the neighborhood, oftentimes you’ll have several vendors submit their proposal. Keep everything organized and have board members participate in the selection of the best vendor for your project.
4. Create a board vote for ARC Guidelines. Determine the planning, construction, and renovation of your homes in a formalized manner.
5. Revise ARC Guidelines. Perhaps you already have ARC Guidelines, but they could use a refresh. Use HOAst to have your board vote on revisions to create a more modern, fresh neighborhood appeal.
6. Vote on the entryway design. Have your homeowners choose the look and feel of the florals and foliage for your entryway in Spring and Summer. It’s a fun way to involve the whole neighborhood and gain excitement for a new season.
7. Ask for feedback on an event. Did you just complete an HOA meeting, or did you just have a Spring Social? Ask homeowners if they were satisfied with the occasion and how likely they’d attend future events similar to the one previously held.
8. Determine capital projects. Find out what capital projects are of interest to your homeowners so you can include the ones with the most interest in your budget and calendar. Then, share the results with everyone and how you will be acting on the plans.
9. Event RSVP. For your upcoming event, send out an RSVP through HOAst to get a good headcount of who from your association will be attending. This also serves as a great reminder for the event!
10. Board vote on Bylaw Amendments. Bylaw Amendments within an association can be time consuming, and it’s important that the changes are done in the appropriate manner according to state. Use HOAst to cross the Ts and dot the Is when you’re making a change to this document.
11. Homeowner vote for the removal of board members. This sounds awful, but it does happen. If a board member is acting in an unfair or inappropriate manner, you can use HOAst to have them voted off the board.
12. Determine pool construction or enhancements. The pool area is one of the most important areas within an association. See if your homeowners want to invest in new enhancements to the pool area, and what enhancements spark curiosity.
13. Vote on firework usage. The 4th of July is a great time of year, but things can get out of control. Gain consensus from your homeowners on how fireworks will be allowed this season, ensuring everyone is on the same page.
14. Check in owners at an annual meeting. Keep meeting protocols running smoothly and efficiently by electronically checking in your homeowners in attendance.
15. CCR Amendment Voting. Gauge interest from homeowners on making changes to the covenants based on the board’s recommendations.
16. Choose a charitable contribution. Vote on a charity that your community would like to donate to for an annual fundraiser, or as part of an upcoming event. This is a great way to give back to your local community and involve the whole neighborhood.
17. Yard of the Month. We know how excited and competitive suburbanites get about their lawn. Make it into a fun and friendly competition by celebrating the yard of the month!
18. Halloween costume contest. Hold a Halloween trunk or treat right before trick or treat begins this year, and have everyone vote for their favorite adult costume afterwards.
19. Holiday lights contest. Vote on the house that went the most all out for the holiday season this year, while also reminding neighbors of any rules you may have about festive decor.
20. Annual elections. HOAst is an incredible tool to use to achieve a quorum for your annual election without the hassle. Gather results in real time, share progress, and communicate with homeowners on their voting record.
21. Use it in your pitch to other associations. As your management company shares your value to potential clients, showcase HOAst from CINC Systems as one of the many innovative tools you have to drive homeowner participation and improve board relations.
22. Revenue stream. Finally, management companies have the ability to use HOAst as a revenue stream for themselves.

If you’re ready to dive into this list for your communities, ask us for a demo on HOAst and let us know what other CINC tools you’d like to see!

It feels like whenever we’re about to see precedented times, something brings us back to the unprecedented. From a new COVID variant to yet another natural disaster, there’s plenty of reason to have extra anxiety this season – and that anxiety leads to rising homeowner and board member tensions that are sure to affect those working in community association management companies.

You can’t control the outside world that increases homeowner tension, but you can control how it affects your level of burnout. How? By using technology to your greatest advantage. Here are five ways software can help you go from volcano-level burnout to feeling cool as a cucumber.

1. Mobile-first management tools

If you’re a community manager, you know that you’re able to better serve your clients when you’re out in the properties with them. Creating a workload that forces you to run back and forth from the office increases time traveling and administrative workload. Homeowners and boards also feel less connected with their management companies when they can’t put a face to the name. That’s why it’s so important to utilize mobile apps to complete home inspections, architectural requests, and more – you get to focus on building community and client relations, not day-to-day tasks.

2. Reduction of busy work

Automate, automate, automate. Software should be automating as much busy work as possible, such as payment matching and budget reconciliation. If you find that more than half of your day is spent completing tasks that a computer should be able to do for you, take a look at what technology you haven’t used to its fullest potential and ask your software provider for some additional training.

3. Automated project management

There are some maintenance projects that have to be done on a regular basis, such as pool cleaning and entryway upkeep. But with so much chaos that happens in a given day, it’s easy to forget essential to-dos. Software tools like CINC’s Portfolio Management Module basically serve as the assistant to the community manager. Weekly status reports, open task reports, and an ongoing maintenance calendar is automated so that you can stay on track without feeling overwhelmed and panicked. A monthly status report is also auto-generated to the HOA board, so they are always in-the-know and don’t have to ask about open action items.

4. Self-Service for board members and homeowners

One element to association management that can easily eat up time is calls and emails from board members and homeowners trying to make payments, review invoices, and look up other financial information. A strong software solution should empower the boards and homeowners to manage the bulk of their needs without having to reach out to the management company. Tools such as CINC’s homeowner and board app are designed to do just that. In CINC’s app, a board member can approve invoices, review financials, schedule meetings and send communication all through the tap of a button. Because of self-service tools like these, some CINC clients have been able to reduce call volume by over 70 hours or more in a month.

5. See the big picture

Finally – and most importantly – a software solution that gives your executive team a 360-degree view of the workload for all employees is instrumental in preventing burnout. CINC’s Management Module gives executives the ability to see all workloads, upcoming projects, and areas where employees are overburdened. Through these project management tools, better decisions can be made with respects to hiring and training new staff, trying more automation tools, and providing valuable coaching and feedback to the team.

Does your software have the ability to curb burnout, or are you feeling the heat? Our latest e-book on People Operations is a great read for you and your whole team, as you’ll learn more about ways to improve employee morale and take a quick assessment on the effectiveness of your software in empowering your team.

When considering software options for your community association management company, there are many features one should be reviewing. Is the accounting fully integrated so that bank reconciliation is a breeze? Are the property management features fully mobile? The list goes on and on.

But when you’re thinking about your 2022 strategy to grow your company, have you considered how your software provides that growth potential? And is your software solution providing to you more than just a product, but a vehicle that drives portfolio growth, customer retention, and even employee morale?

There are many questions to ask to determine if your software solution is up to par, but beyond the features and benefits, here are three questions to ask yourself about your software solution to catapult your ’22 growth plans:

1. Does my software keep my employees motivated and excited to work here?

Do one search on LinkedIn for community management and you’ll find over 5,000 openings – seriously! Hiring and retaining good talent is a problem in every industry right now, and it’s the number one issue that many CAM owners cite as their key challenge.

So what does this have to do with software? Plenty. Fragmented software solutions increase the time it takes to complete tasks that keep employees from focusing on other aspects of the job. If someone is spending hours on end reconciling mismatched budgets, those are hours that aren’t spent working with homeowners and board members to consult on ways to improve the community. It also leads to late month-end reports, which in turn frustrates board members.

As the Pandemic and natural disasters continue to surge, burnout amongst community and property managers is also on the rise. This burnout can be alleviated through technology that empowers the homeowner. Software that takes the guesswork and legwork out of an employee’s daily grind keeps the team aligned to the goal at large – provide an incredible homeowner experience that helps the company grow. Bill Ashby, founder of Gulf Coast Community Management, was able to decrease customer call volume by over 50% by switching software. This means he and his team can focus on helping homeowners thrive instead of just getting by.

2. Does my software reduce the risk for fraud and data loss?

The quick switch to a work-from-home environment last year opened up many companies to vulnerability, and that vulnerability hasn’t seemed to subside. Phishing, ransomware, and a new focus on mobile devices continue to cause multiple cybersecurity threats that are impacting the community at large. The Colonial Pipeline breach that caused a massive gas shortage in the south this past May was caused by one employee opening a fraudulent link in an email.

Your software solution should absolutely be a partner with you to ensure your data and homeowners’ finances are protected. Multi-factor authentication, private cloud hosting environments, endpoint monitoring and regular employee training are just a few must-haves. Our assessment will help you understand how protected your company is from a cyber attack, and the steps you can take to improve security standards.

3. Is my software focused on the homeowner, first and foremost?

Finally, it’s important to remember the end goal in any software solution, and the goal that every community association management company has to assure growth and retention. Many software features improve efficiencies for the accounting and property management team, as it should. At the end of the day, though, the reason behind every software feature should be to improve the community experience for the homeowner. After all, if the homeowner is satisfied, HOA board members are satisfied, and the association management company remains a trusted partner.

Custom-branded website portals, homeowner and board mobile apps, and banking integration are just a few things one can have within their software to enhance homeowner efficiency and communication. If homeowners are able to view, for instance, the status of their ACC request from their phone in real time, they won’t have to waste time calling the HOA office for a status update. To determine if your software provider is focused on homeowner experience, one should simply ask, “How does your solution make homeowners satisfied with their HOA experience?”

These are just a few questions one can ask about their software solution, but there is of course a more detailed approach that needs to be completed when considering a switch. Take a peek at our Ultimate Buyer’s Guide to see how you can go about the process of determining the right solution for you.

The saying, ‘you can’t teach an old dog new tricks’ is rather…old. First of all, ‘old’ is just a frame of mind, and second, you can always learn new tricks. Sure, sometimes there’s a steep learning curve, or old habits are hard to break, but learning those new tricks is possible, and always pays off in the end.

That includes transitioning to a new property management software solution.

Learning how to use new technology is tough for everyone, even for younger generations (though they’d never admit it if you asked them), because technology has evolved at a very rapid pace in the last couple of decades. With so many changes and enhancements being made to the systems we just finished learning, it’s easy to get a little overwhelmed and frustrated. So naturally the idea of completely moving from one technology to another sounds impossible. It’s not.

Switching Software Shouldn’t Disrupt

If you’re thinking of switching to a new community association management (CAM) software, it’s likely because what you’re currently using isn’t cutting it in some way. Maybe the system isn’t capable of producing the reports you want, or you’ve gotten sick of all of the clicks you have to do just to get to the dashboard you need. Maybe the issue isn’t even the platform, it’s that you can’t get a live person on the phone to help you fix a problem.

But you’re probably still having flashbacks from when you had to onboard to your current software solution to begin with and that’s making you sweat a little. It’s a very normal reaction, but you can’t let it be the thing that stops you from making a smart investment into your future.

Think of it like learning how to drive.

We were all new drivers once, right? That’s a scary thing to be, and we’ve probably all had that cliché movie moment of hitting the wrong pedal and nearly ramming into something. But we all also learned, and now those pedals are second nature. The transition period from one platform to another may be a little rough, but if you’ve got the right teachers, tools, and support system, you won’t feel more than a few bumps in the road on your journey.

The onboarding process is often the largest challenge with transitioning to a new property management solution because it can be a lengthy process that has a lot of moving parts. Data migration, accounting needs, change management, and overall time to go live are often the primary challenges in the process, and they’re the top concerns CINC Systems has worked to address after 15 years of improving their processes.

Learning the Ropes

Migrating to a new software solution typically means working with a lot of different people to accomplish the many goals that the onboarding process has: securing and transferring your community data, which can sometimes take more than one expert to handle the data acquisition, and another to handle the actual transition process; ensuring your accounting department is up to speed and understands the new software offerings; product specialists and trainers to teach the software, and more.

Having to engage with so many people is one of the software transition challenges CINC has aimed to solve. During a migration to CINC, you’ll still have the benefit of working with multiple resources; we have accounting experts, professional trainers, and data wizards ready to jump in and get your community information prepared for transfer–but none of the responsibility to initiate and engage with them is on you. CINC’s Onboarding process provides new customers a single point of contact who will handle all of the coordination, which means the time many waste playing telephone tag with their new software partner just to get a single training scheduled is nonexistent. Your CINC project manager is your champion, your advocate, and will guarantee your time isn’t being wasted begging for the attention you deserve.

Crash Course…Minus the Crash

The worst thing about learning to drive was how rigorous the whole process could be. Months of time spent in a classroom, plus the 50+ hours you have to bank up driving with another licensed driver, and then the hours waiting at the DMV just to take a test? Unbelievable. But it makes sense for a process to be rigid when applying for a driver’s license. Not so much for going live with a new software.

CINC has streamlined their process to prep your data for transfer swiftly and efficiently, and a time-tested training process that customizes each new client’s training to their specific team and community needs. This reduces the most time-consuming aspects of onboarding. We only have a few simple asks for our new clients:

• Set Top Down Expectations: Engage your full team.  This is not difficult and does not take much time, but it is very important and pays off exponentially.
• Verification/Questions When Needed: We do everything else such that you do not need to be data experts or perform mass excel manipulation
• Learning The Systems and Processes: We will use great people and tools to teach you so all you need to do is participate

Driving with a Co-Pilot

After getting a license, most kids still spend time driving using their parents as a personal driving coach. They’ll go together to the grocery store, to pick up take out, or just around the block a few times. It just makes one feel better, even if they already know how to drive.

For at least your first month using CINC after finishing your Onboarding and Training, you’ll get a team of driving coaches of your very own.

The idea behind this is that regardless of how seamless and thorough the transition process is, you’re still diving into a brand new property management and accounting software. Just like purchasing a new car, there are going to be some differences that will take adjustment and time to really learn. CINC is there to check in with you every single day to talk through each task you complete, no matter how small, and help remind you of the best practices and guide you in the right direction.

Back on the Road

Even experienced drivers can use a helping hand from time to time. You run over a nail and get a flat, or maybe you forgot to fill up the tank and ran out of gas on the highway. There will always be moments where muscle memory and second nature fall a little short–so what do you do? You pull a lifeline and phone a friend!

And you’ve always got a friend in CINC.

CINC is that supportive mom friend waiting for you to give them a call, day or night, no matter how big or small of a problem you have.  You forgot how to pull the report you need? Don’t worry, there’s a video for that in CINC’s little bag of tricks. You don’t like watching videos? Not a problem, there’s a reference document with all of the steps in it, too. CINC Support is more than documentation, it is a team of real people you can talk to.  You need a quick fix on a Friday afternoon? You’ll get it. Seriously.

Get Onboard

If this sounds like the kind of quick, comprehensive onboarding process you’re looking to get with your next software partner, #GetInCinc to learn even more about how you can get completely up and running in CINC Systems with minimal headache.

Now that many of us are working from home, we are quickly adjusting the feng shui in our new office space. For many accountants, this means a cumbersome shopping spree for filing cabinets and the dread of trying to find space for all that paperwork with a small space. For accounting teams using CINC, the office space will look so clean that it would spark joy for Marie Kondo herself.

How is this possible? CINC is a completely cloud-based platform that maintains the history of all transactions and their sources. From check images and bank statements, to invoices and reports, everything is accessible to CINC users electronically. Bye-bye filing cabinets and papercuts, we are saving trees and hands at CINC.

CINC is proud to have a product suite that enables management companies to deliver month-end reports to their association boards within the first week of the month, on average. How, exactly, is this possible because of our product? To answer the specifics behind such a quick turn-around of financials, we talked to the team who serve as the resident experts of all things accounting: Accounting Services at CINC.

Accounting Services is a department within CINC Systems that provides full-cycle accounting for CINC clients who have chosen to outsource this aspect of community association management. The nine-person team currently manages the financials of about 800 associations comprising of about 45,000 doors. Olga Ridgeway is the Director of the team, leading eight experts who are able to deliver month-end reports within five business days for each of their clients.

Whether you use Accounting Services or have your own accounting team, the CINC way will make your day-to-day better than ever. Here’s a rundown of four reasons why CINC’s platform greatly improves efficiency and accuracy when it comes to accounting.

Daily Bank Reconciliation

CINC’s accounting platform has the ability to reconcile bank transactions on a daily basis in under a minute – all you have to do is click the button (seriously!) “I provide the accounting for about 150 associations in our portfolio,” explains Senior Accountant Steve Owens. “I can reconcile all of their bank accounts within two seconds. I can also identify any bank transaction discrepancies within 15-20 minutes.” By completing daily reconciliation accountants don’t have to spend the end of the month looking up multiple discrepancies all at once. “Prior to CINC I worked at a bank, where we had to wait for statements to come in at month-end to complete the reconciliation,” shares Senior Accountant Jennifer Thrasher. “Not only did this make the month-end such a stressful time, it was impossible to keep the bank accounts in balance throughout the month.”

Fraud Prevention

Because bank transactions are available and reconciled on a daily basis, fraudulent activity can also be discovered almost immediately. “A big ‘wow’ moment for me was when I had a client whose transactions I was reconciling from the previous day,” explains Thrasher. “Thanks to the bank transactions being received on a daily basis, I was able to identify a counterfeit check that an association received from a landscaper. I notified the client and the issue was resolved within a few days. Without CINC, it might not have realized until month-end. This could have been a huge loss and money out of pocket for the association.”

Transaction-Based Methods

Many accountants are used to journal entries as a means of recording transactions. The manual process of having to review invoices after they are posted and process journal entries to make any changes is standard. However, with CINC, all accounting is transaction-based, which means that journal entries are automatically created with each transaction. “This can be a bit of a shock to accountants when they first onboard with CINC,” Thrasher says. “We are all used to living and breathing in the world of journal entries, so clients tend to be stunned when they see it all done for them behind the scenes.” This automated approach to record-keeping also helps improve accuracy and speed when expenses need to be re-classified. “If I have to, let’s say, re-code an expense from water to electricity, all I have to do is go to the invoice record, change the GL, click save and it’s done. The system does everything else behind the scenes to reverse how the invoice was originally posted and post it correctly, while keeping an audit trail in the GL account history and on the invoice record.” The same automation applies for accounts receivable, when a homeowner payment is received, it is credited to the homeowner account, deposited into the bank and the corresponding general ledger entries are created.

Invoice and Report Functionality

In CINC, it is very easy to view a general ledger entries and their source, simply by clicking on the hyperlink and going directly to the invoice record with image. This helps to greatly improve the audit trail as well as drilling down from the general ledger to its origination for review purposes.

“You can also generate reports in multiple formats, such as Excel or PDF,” Owens explains.” Being able to extract data in excel can help with accounting calculations for budgeting and forecasting as well as trend analysis.

CINC is an efficient and robust accounting system that will get rid of your filing cabinets and improve the speed of delivery for your month-end financials. Providing a service that is one-of-a-kind to your HOAs will support you in your acquisition and retention goals. Contact us now if you’d like to see everything in action!

Managing a community association can be a lot of work. Whether you’re responsible for homeowner associations (HOAs) or condominium associations (COAs), or both, you’re going to have a lot on your plate. Association managers help their clients with a wide range of tasks, from daily operations to big picture projects. Accounting will often be one of your most important responsibilities.

As an association manager, you’ll help with finances for your clients’ HOA/COAs. This can include collecting resident fees, paying bills and vendor invoices, monitoring transactions, and generating financial reports. Association accounting can be complex and time-consuming. Luckily, there’s great software like CINC Systems to help you get the job done.

With CINC Systems, you’ll benefit from a variety of community association management accounting features. Accounting systems like CINC help you organize your clients’ finances and make your management business more efficient. Here are some of the best features of association management accounting systems.

Real-Time Automatic Bank Integration

As with any organization with communal finances, homeowner associations and condominium associations may be at risk of fraud or theft. There’s also the potential for going over-budget. As an association manager, part of your job is monitoring your clients’ financial transactions. By assisting with this, you ensure the HOA/COA remains in good fiscal health.

Association management accounting systems provide a feature called bank integration. With bank integration, you can link all your clients’ bank accounts to your association management software. This allows you to monitor the accounts in your CINC Systems dashboard without logging into multiple websites. Accounts also update in real-time, so you can see financial transactions as they occur. If there’s ever an issue, you’ll be able to spot it right away and resolve it quickly.

Easy Mobile Access

Another great association management accounting software feature is mobile access. Platforms like CINC Systems are based in the cloud. Cloud-based mobile software lets you access your clients’ data and work from any laptop or tablet with an internet connection.

Being mobile is essential for a busy HOA/COA manager, especially when you’re managing a large client portfolio. You can perform accounting duties for one client while being on-site managing a project for a different client. By using association accounting software with a mobile app, you’ll be able to perform your duties from any location.

General Ledger Accounting

General ledger accounting isn’t the most exciting part of association management, but it’s one of the most important tasks. General ledger accounting lets you get a snapshot of an association’s current financial status.

Managing an HOA/COA’s general ledger by hand, using spreadsheets, can be an overwhelming task. Luckily, association management accounting software like CINC Systems includes general ledger accounting features. After integrating your clients’ bank accounts into your CINC Systems platform, you can begin balancing their general ledger online and avoid the extra time, calculations, and paperwork.

Generate Financial Reports

When you manage an HOA/COA, your role may include advising the clients’ Board in financial decision making. You may also be responsible for providing information to help with filing taxes, performing internal audits, and guiding the association’s leadership during budget meetings. This means you’ll need to prepare financial reports for the HOA/COAs you manage.

In the past, preparing a financial report could be a very time-consuming effort. However, association management accounting software like CINC Systems makes it easier than ever. With CINC Systems, you can generate financial reports automatically. Reports can be customized to specific time periods, transaction categories, or other data sets. These reports can then be emailed to Board members with the click of a button.

Collect and Process Resident Fees

Collecting resident fees is one of the primary duties of an association manager. In the past, this process could be tedious and time-consuming for everyone involved. Residents had to deliver or mail physical checks, then managers had to deposit the payments and wait for them to clear. Association management was also responsible for tracking which residents paid on time and which ones were delinquent.

With association management accounting software like CINC Systems, collecting resident fees can be a simple, fast, paperless process. Association managers can use CINC Systems to create a web portal where residents easily pay their fees online via e-check or credit card. Payments are electronically deposited, saving you a trip to the bank. Plus, the accounting software will automatically update the resident database to display who’s paid and who hasn’t.

Process Work Orders / Accounts Payable

Similarly, association management accounting software provides the ability to create a web portal for processing work orders. When residents need to submit a repair, they can submit their work order online and even include a photo showing the work that needs to be done. On the management side, you can sort work orders by submission date, category, and priority. This will help you coordinate with vendors and schedule work more efficiently.

Once a work order has been completed, association management accounting software lets the vendor submit their invoice online. Your software dashboard will include accounts payable, so you can pay the vendor as soon as the work is finished. Residents also love this feature because they can see the status of their work order online and receive notifications when the repair is finished.

Try CINC Systems for Your Association Accounting Business

These are just some of the great features community association management accounting systems has to offer. To see how HOA/COA accounting software can help your business, try CINC Systems today. CINC Systems includes bank integration, general ledger and collection processing, and it lets you generate financial reports from anywhere with an intuitive, all-in-one cloud-based system. It’s the only association management accounting platform you’ll ever need.

Best of all, CINC Systems is scalable to any size homeowner association or condominium association. No matter what kind of clients you have in your association management portfolio, CINC Systems can help. Click here or call 855.943.8246 for a free demo.

In order to thrive in an ever-changing tech-centric world, today’s businesses are compelled to conform and adapt. Demand for real-time data access and technology that allows customers to “do more with less” can make it difficult for companies to stay ahead of their competition while remaining profitable.

Upgrading and maintaining the latest business software has been historically expensive. For example, on-premises infrastructure is costly to install, requires an IT staff to maintain, and costs many thousands of dollars. Additionally, capacity constraints on single-tenant legacy software solutions make them inherently difficult to scale.

Move your association management business to a cloud-based multi-tenant SaaS (software as a service) solution and experience untethered scalability. With a cloud-based SaaS solution, your business can expand and add users without needing to upgrade hardware. Investing in a SaaS company may be the smartest company decision you can make.

What Is a SaaS-Based Management Solution?

It is important to understand the difference between true multi-tenant SaaS and other online accessible software.

Subscription-Based Model

Subscription-based SaaS inherently reduces the cost of owning your software infrastructure. Some SaaS companies charge an annual subscription fee, while others bill quarterly, monthly, or weekly; furthermore, SaaS fees can be calculated into your monthly budget. On-premises solutions and basic remote-access software require an investment for software licenses, in-house server hardware, and an IT support staff.

Multitenant Functionality

Multitenancy SaaS means that multiple customers are served by a singular instance of cloud-based software and its backing infrastructure. There is no software to install. Simply subscribe and log in via your normal internet browser.

Basic cloud-based remote access legacy solutions, such as single tenancy, require each customer to have his or her own software instance and an independent database. Furthermore, legacy users experience similar limitations to on-premises solutions:

• Hard to scale
• No database or software sharing
• Cumbersome software upgrades and updates
• Expensive to maintain
• Capacity constraints

Advantages of Association Management SaaS-Based Software

Whether you manage a large portfolio of homeowner associations (HOA) or a single condominium association (COA), switching to a SaaS-based program can help you provide next-level service to your clients. Here are several advantages to consider.

1. Instantaneous Updates

Legacy system software upgrades necessitate massive file downloads and lengthy installation time, leading many companies to delay this process. In other instances, software updates require companies to purchase a new version and install it from scratch, and it’s not uncommon for traditional software updates to warrant a newer computer system.

Companies leveraging SaaS-based programs enjoy constant updates and upgrades deployed automatically to all users at no additional cost, which means your software is always up-to-date with access to the latest features and functionality.

2. Cost-Effective Set-Up

The often steep up-front costs of a legacy software set-up, plus IT, software, and hardware overhead can make it far less cost-effective than the subscription-based model of a SaaS system.

Because SaaS is a subscription-based, pay-as-you-go model, the start-up fee is essentially zero. You are not buying and owning the software, so you pay only for what you use to operate your business, turning capital expenditure into operational expenditure.

Additionally, a SaaS rollout is nearly instantaneous. Large, growth-oriented property management companies can launch a cloud-based system nationally or globally and sidestep the cost associated with those deployments. There is no need to hire on-site IT experts to install software or trouble-shoot upgrade glitches and since no supplemental hardware is required, you can avoid the time and cost it would require installing and procure a virtual private network (VPN) and an IT infrastructure across numerous sites.

3. Worry-Free Data Protection

SaaS providers encrypt their cloud-based data. This means sensitive data is encoded once it is uploaded and can only be decoded by someone using the proper SaaS program and password. Thus, in the event of a data breach, encryption ensures that your clients’ data remains protected.

By outsourcing to a SaaS provider, your company’s sensitive information is further guarded by a team of data security specialists. Client platforms, applications, servers, and data are proactively managed. Your association management software is fortified with intrusion prevention systems, access controls, antivirus software, and firewalls rendering threats like denial-of-service, brute-force, and malware attacks a thing of the past.

SaaS security also means peace of mind in case disaster strikes. Organizations that fully or partially utilize legacy systems are vulnerable to internal and external threats that could seriously interfere with business continuity. Even if data is backed up and stored on-site, or across town, it may not be safeguarded from a catastrophe like a fire, flood, or hurricane.

SaaS uses cloud resources to protect and back up databases, files, software, and applications from the disruption caused by calamity or theft. A SaaS solution enables continual operations during and after disaster recovery execution.

4. Lag-Free Performance

The speed and performance of a single-tenant legacy system are only as reliable as its in-house servers. Your burgeoning business would quickly exceed a legacy server’s capacity, forcing your company to buy and install additional hardware and potentially increasing your IT department.

Because SaaS solutions are built to accommodate its potential universe of users, capacity is never an issue. Multiple users can be logged into the software at once, running multiple reports, with no impact from a speed or usability standpoint.

5. Amplified ROI

Return on investment (ROI) is one of the most widely used metrics of a company’s success and it is one of the main reasons to consider SaaS.

Software ownership, conventional licensing, limited user numbers, and maintenance costs lead to capacity-utilization gaps similar to on-premises hardware systems. The on-demand, usage-based pricing of a SaaS system closes these gaps and leads to improved ROI. Here are a few other ways SaaS can enhance your ROI:

• High capacity utilization — A multitenant SaaS provider like CINC can attain higher capacity utilization which translates to lower costs for its customers.
• Economy of scale — SaaS systems spread out IT costs over a large user base. An issue encountered by a single user may, once solved, be proactively fixed for all SaaS users.
• Cost reduction — With a SaaS-based solution, boosted management efficiency, increased productivity, and diminished overhead leads to higher cost reduction and improved ROI.

Try CINC Systems for SaaS-Based Association Management Solutions

Cloud-based SaaS models like CINC deliver affordable and accessible business solutions to association management companies of any size.

CINC’s all-in-one platform provides banking, accounting, financial reporting, property management, board management, and homeowner communication solutions and uses centralization, automation, and integration to improve the efficiency and profitability of your association management business.

If you’re not already using SaaS-based technology for your business, try CINC Systems today. To request a free software demo, click here.

Association management software can save money for you and your clients. Whether you’re managing a large portfolio of properties belonging to a homeowner association (HOA) or a smaller condominium association (COA), using association management software helps increase efficiency while lowering costs. It’s one of the best tools available to any HOA/COA manager.

An association is similar to a business in many ways. Associations have income, expenses, and savings that need to be maintained in order to ensure the organization’s long term success. When an HOA/COA can save money, it can upgrade facilities, provide better services to residents, and invest more into the association reserve fund for emergency expenses. There are several ways for associations to save money, but one of the easiest and most effective is to use association management software.

If you’re wondering how association management software can save money for your clients, the features listed below are just some of the great reasons to start using HOA/COA management software like CINC Systems.

Collect Fees and Assessments Online

As the old saying goes, time is money. Whenever you can save time, you’ll be able to free yourself up for more tasks and thereby work more efficiently overall. Increasing your efficiency as an association manager means you can take on more clients or expand your existing services with the clients you already have.

One of the best ways to save time as a manager is to use association management software to collect HOA/COA fees and assessments online. With software like CINC Systems, you can create an online web portal where residents can pay their dues electronically. This means payments are automatically deposited into your clients’ accounts, so there’s no need for you to deposit physical checks at a bank.

Additionally, collecting payments online using association management software enables you to generate a list of which residents have paid their fees on time and which ones still owe. This makes it much easier to enforce collections because you’re not wasting time creating a list by hand. Associations love this feature because it means overdue fees can be collected more quickly.

Process Work Orders Electronically

In addition to fees, association management software enables you to process work orders for your clients online. Create a member portal where residents can submit work orders electronically and even include photos of the work that needs to be done. Then, as manager, you can organize these work orders by project category, submission date, or priority.

Organizing work orders electronically means you can group the work more efficiently. For example, you can schedule an electrician to come in and handle all electrical repairs on the same day instead of making multiple calls. Consolidating repairs can help the association save money. Plus, residents love it when repairs are performed more quickly. Increasing resident morale for your clients will help you retain their business.

Pay Bills Automatically

HOAs and COAs often have monthly bills for utilities as well as services like landscaping, security, and regular maintenance. Depending on the size of the organization, these upkeep costs can become complicated and difficult to track. When a bill slips through the cracks, the association must pay late fees or other penalties.

With association management software, you can set up automatic bill pay. Whenever a bill or invoice comes in, it will automatically be paid from the client’s accounts. This ensures that they never incur any late fees. It also helps you ensure that the association’s current expenditures are accurate, which is vital for setting budgets.

Send Electronic Invoices

Another way to help your clients save money with association management software is to use electronic invoices. When someone owes money to the HOA/COA, you can generate an invoice which can be sent to the recipient electronically via email. Then, the recipient can pay it online instead of sending a check.

When an association is owed money, every day that they don’t receive payment can impact the organization’s money. By using association management software to send electronic invoices, you can help ensure that your clients are paid as quickly as possible.

Go Paperless

Association management software can also save money for HOA/COAs by allowing them to go paperless. By automating many aspects of association management, HOA/COA software dramatically reduces the need for paper and printing. For example, financial reports can be emailed to the HOA/COA’s board instead of printed out and sent by mail.

Going paperless means the association can spend less money on office supplies, printing services, and mailing services. Your HOA/COA management business can cut these costs, as well. It’s a win-win for everyone involved.

Automate HOA/COA Accounting

Accounting best practices are crucial to the success of an HOA/COA, but some managers feel overwhelmed by these tasks because they don’t have formal accounting training. With association management software, you can automate many important accounting tasks and reduce accounting errors.

For example, association management software usually includes general ledger features. This means you can balance your clients’ books with the click of a button and help ensure that they’re remaining within the target zones of their budget. Using association management software means your clients won’t need to hire a CPA to handle the day-to-day finances.

Prevent Fraud

Similarly, association management software can save money for an organization by preventing fraud. Using real-time bank integration, you can sync your client’s various accounts to your software dashboard. Then, you can monitor these accounts in real-time from one convenient site.

This allows you to see transactions as they occur in the moment. If you notice expenditures that seem unusual, you can flag the transaction immediately. This helps you stop potential fraud or other forms of financial abuse, which can be very expensive to recover from if they’re not caught early.

Save Money with CINC Systems

Using association management software can save money for your organization as well as your clients. It’s one of the best investments you can make. To see how HOA/COA management software can help your business, click here for a free CINC Systems demo.

Association software offers multiple benefits for maintenance tracking. Each of these unique benefits makes your job as a homeowner association (HOA) manager much easier. Association software helps you streamline your business and provide better service for your clients. Maintenance tracking features in software like CINC Systems will enable you to work more efficiently than ever.

Maintenance is a very important part of any HOA. Whether it’s a large association with hundreds of members and multiple community spaces, or a smaller HOA with basic facilities, there’s a lot of upkeep involved. As an HOA manager, it’s your responsibility to ensure that maintenance is performed well in a timely manner. You may also be tasked with paying vendor invoices.

By using association software, you can track all the maintenance needs for your clients’ HOAs. This includes everything from regularly scheduled maintenance for shared equipment, such as laundry rooms, as well as unexpected repairs that may be needed. Association software makes maintenance tracking simple, no matter what scale.

Here are some benefits of association software for HOA maintenance tracking:

Upload Photos to the Cloud

First, using association software such as CINC Systems gives you the ability to take photos and upload them to the cloud. This is a very valuable feature. Using CINC Systems, you can take a photograph on your phone and upload it to the association’s work order dashboard. Then, you can share this photo with service providers.

By taking photos of any work that needs to be done, you’ll be able to get more accurate quotes for the repair costs. Having a photo can make maintenance and repairs much easier than trying to describe the problem in writing or over the phone. Photos can also help maintenance workers determine how long a project will take to complete.

Allow Residents to Submit Work Orders

As an HOA manager, it’s your job to check on the association’s facilities and report damages or issues that need repairs. However, you can’t be everywhere at once, especially if you’re managing multiple different HOAs. This means that residents will often be the ones to bring a repair issue to your attention. Because they live in the community, residents may be more likely to notice when something is broken or damaged in a shared space in the HOA.

In the past, residents would submit work orders on paper, usually by filling out a form and leaving it in a special box near the manager’s office. Then, you’d collect these forms and organize them by hand. This old system is time-consuming, prone to error, and inefficient. HOA management software like CINC Systems takes the process of submitting a work order and transforms it into a streamlined, modern system.

With CINC Systems, you can create an online web portal where residents can submit work orders online, 24/7. They can also include photos. This process allows you to receive work orders instantly, even if you’re off-site. It also gives you the ability to automatically communicate with residents about the status of a work order, which eliminates the need for followup phone calls and emails.

Organize and Manage Work Orders More Efficiently

Once you’ve created an online web portal where residents can submit work orders electronically, you can use association software to manage these work orders. Organize work orders by date submitted, category, priority, or other variables.

For example, you can group together all work orders that require a plumber. Then, you can schedule a plumbing service to handle each repair or maintenance job on the same day. This is more efficient and can help your client’s HOA save money.

An online web portal for work orders also allows you to pay vendor invoices electronically. Service providers can submit their invoices to you directly online and you can pay them with the click of a button. You can also keep track of unpaid invoices and interface with your association software’s accounting features to stay on budget.

Schedule Preventative Maintenance

Additionally, association software can help you schedule preventative maintenance for your clients’ properties. This is especially important for associations in cold climates that experience snow or other severe weather conditions and may need to winterize their HOA homes. You can use your association software to create a calendar and set reminders to schedule maintenance.

By scheduling maintenance in advance, you’ll help your clients maintain a successful community that thrives. As the old saying goes, an ounce of prevention is worth a pound of cure!

Create a Service Provider Database

Another benefit of association software for maintenance tracking is the ability to create a service provider database. Every good HOA manager should have a service provider database. This can include contractors, electricians and handymen, plumbers, landscapers, and more.

Think about the needs of your clients’ HOAs and find vendors who can fulfill those needs. You can do this by asking for referrals or reading online reviews to find the best service providers near your clients. Then, store each provider’s information in an online database.

Create an online database every time you onboard a new client and update this database periodically to ensure the information is correct. By having a database of reliable service providers already on hand, you won’t waste any time looking for the right vendor when your clients need urgent work.

Go Paperless

Finally, association software helps you go paperless. With maintenance tracking, it’s easy to let paperwork become overwhelming. Work orders, spreadsheets, calendars, and invoices can easily pile up. By using association management software, every aspect of maintenance tracking for your client’s HOA can be digital.

In addition to helping you stay organized online, going paperless is great for the environment! You and your HOA management business can feel good knowing you’re helping the planet. Plus, you can emphasize that you’re a “green” company to help attract new clients who may wish to do the same.

Try CINC Systems

If you’re not using association software for maintenance tracking, you’re missing out! To see how association software can improve your business, click here to request a free CINC Systems demo.

Data protection is important for any business. When you’re an association manager, it’s vital to protect your clients’ data to earn the continued trust of clients and to retain their business. Managing a homeowner association (HOA) or condominium association (COA) requires you to process a lot of private, personal information about your clients and the members of their association.

This means you need to take extra steps to keep association management data safe from unauthorized users. Using HOA/COA management software makes it easier than ever to manage an association. However, the one potential downside to going digital is that your data becomes vulnerable to hackers and other unauthorized users if you’re not taking active steps to protect it.

Remember, when an association hires you to be its manager, you’re going to be handling sensitive financial data as well as personal information for the community’s residents. You’ll need to make sure this data never falls into the wrong hands.

So how do you keep association management data safe from unauthorized users? The good news is that guarding your clients’ information is relatively simple. You don’t need to be a computer wiz to add an extra level of protection to your system. Simply implement the following strategies to keep your HOA/COA data safe:

Use Cloud-Based Software

Cloud-based software refers to any program or app that stores your association management data across multiple servers in different physical locations, accessed via the internet. Although it might seem like cloud-based software would be less secure than storing your data on a single hard drive on your office computer, cloud technology offers great built-in security features.

First, cloud-based HOA/COA management programs like CINC Systems use a powerful security tool called data encryption. This means that your data becomes “scrambled,” or encrypted, as soon as it’s uploaded to the cloud. The encryption then uses a very specific, computer-generated key code to unscramble the data. Even if an unauthorized user downloads your data, they won’t be able to access it unless they have the key code. This key code, meanwhile, is virtually impossible to crack or guess.

Cloud-based software also protects your association management data from computer problems. If your hard drive crashes and can’t be revived, your HOA/COA data is still safe in the cloud. For anyone who’s ever spilled a cup of coffee on their laptop or opened an email virus, you’ll understand how this feature is a huge bonus.

Limit User Access

The next step to keeping association management data safe from unauthorized users is to limit user access. If your HOA/COA management business doesn’t have any employees except yourself, this isn’t an issue. However, if you have coworkers or employees that you manage, think carefully about who has access to what kind of data.

For example, if you have an employee who needs access to the client’s work orders, but not their finances, restrict their access accordingly. This isn’t about trust. Your employee might be amazing, but they’re still subject to human error as well as hacking. Each individual who has access to your client’s HOA/COA management data creates a weakness in your digital defenses. Strengthen your security by limiting this.

Most association management software can create user profiles with different levels of access, so adjust your settings to make sure the only people with full access are the ones who actually need it.

To see how association management software can protect your data from unauthorized users, try CINC Systems. Request a free demo or call (855) 943-8246 to learn more.

Invest in a Firewall

Next, invest in a firewall for your company. A firewall is a security device that monitors incoming and outgoing traffic on your network and restricts any suspicious or unauthorized access. Think of a firewall as an extra layer of security that blocks potential cyberattacks before they can begin.

There are multiple types of firewalls, which can be software or hardware devices. Firewalls can also be customized to block access from specific regions, including parts of the world that are notorious for hackers. Other firewalls focus on protecting your system from different types of threats, like specific viruses.

Firewalls are available at a range of price points, too. Often, they also include antivirus software for your desktop or laptop. Figure out the best firewall for your business based on your computer system, internet speed, and how many employees you have. Then, invest in a solid firewall to keep your association management data safe.

Implement Secure Passwords

Often, unauthorized users gain access to private data because of poor passwords. In fact, setting a secure password is one of the best ways to immediately boost your data security.

Although it’s tempting to use a password that’s easy to remember, like the name of your business or your business address, an easy password is a weak password. The simpler your password is, the faster someone can hack it.

The formula for a secure password is simple:

• Use at least 16 characters.

• Include at least one uppercase letter, one lowercase letter, one number, and one symbol such as $, %, & or @.

• Substitute numbers and symbols for letters so you’re not using actual words in your password. For example, if your password includes the word “beaches,” write it out as “be@che$” instead.

• Avoid using words or phrases that relate to your life, such as middle names or the names of your pets.

Experts also recommend using unique acronyms in your passwords. For example, if your favorite song is “I Want to Hold Your Hand” by the Beatles, you could include it in your password as “iwthyh.” This will make your new password more personalized and therefore easier to remember, without sacrificing security.

Make sure you never share your password with anyone or store it on your computer in a Word document or spreadsheet. Also, be sure to use a different, unique secure password for every account you have. Then, if your email gets hacked, your association management data is still secure. If you have trouble remembering your passwords, try a secure keychain program like LastPass or KeePass.

To learn more about the latest security threats in 2021 and how to keep your company safe, download our latest whitepaper.

Association management software is a powerful tool. Whether you’re managing a large homeowner association (HOA) or a smaller condominium association (COA), an association management software like CINC Systems offers many great features to help you streamline your business. But did you know that association management programs are also powerful accounting software?

If you’re not using the accounting features of your association management software, you’re missing out. HOA/COA management accounting software can increase your business’ efficiency by leaps and bounds. It automates many daily accounting tasks, provides easy-to-use tools for processing financial data, and creates web portals so you can help your clients process payments faster.

You don’t have to be a CPA to become an HOA/COA financial wizard. With association management accounting software, you’ll be able to take your management business to the next level. But first you need to understand how to make the best use of this software. After all, if someone gave you a Ferrari but you only knew how to drive in one gear, wouldn’t that be a waste?

Here are several steps you can take to ensure that you’re making the best use of your association management accounting software:

Upload HOA/COA Data to the Cloud

The best association management accounting software are cloud-based. Cloud-based accounting software offer multiple advantages over traditional accounting systems. With a cloud-based program or app, your data is stored remotely across several servers in multiple locations, also known as “the cloud.”

Cloud storage offers greater security for your client’s data because it’s much harder to hack. It also gives you the ability to work remotely. There’s no need to haul around a giant hard drive to access your client’s data. Simply login to your association management accounting software dashboard from any device with an internet connection. This allows you to do your job from anywhere, any time. Plus, if your office’s server system goes down, your data won’t be lost.

If you’re not storing your HOA/COA client’s accounting data in the cloud, make this your first priority. Transfer all HOA/COA account data to your association management accounting software, ensuring that the data is accurate and up-to-date. This is one of the best ways to use your accounting software.

Use Automatic Bank Reconciliation

Most association management accounting software includes a very useful feature called automatic bank reconciliation. Automatic bank reconciliation allows you to review bank statements and monitor HOA’s/COA’s money from one convenient place, in real-time. With this feature, you’re able to sync all of your client’s accounts to your software’s dashboard.

Automatic bank reconciliation lets you track deposits, withdrawals, and check your client’s account balance without logging into multiple bank websites. This gives you a clear snapshot of the HOA/COA’s financial health. It also helps you monitor your client’s accounts for instances of fraud or other suspicious activities.

Automatic bank reconciliation is one of the best features of association management accounting software. To see how CINC Systems’ automatic bank reconciliation software can make a positive impact on your business, try a free demo or call us at (855) 943-8246.

Generate Financial Reports for Board Members

As an association manager, transparency is one of your key responsibilities. It’s part of your job to keep your HOA/COA clients in the loop about their association’s finances. Whether it’s an annual audit to assess the long-term budget and reserve fund status, or a monthly update about resident fees, financial reporting is crucial for association management.

In the past, generating a financial report for association board members could often be a big hassle. The process involved double-checking your calculations, creating spreadsheets and graphs, then sending the report to each board member. For HOA/COA managers who don’t have a background in financial management, generating reports was difficult.

Fortunately, today’s association management accounting software makes the process a breeze. With HOA/COA accounting software, you can generate financial reports for your clients with the click of a button. Organize reports around custom data sets, such as expenditure categories or time periods, then email the report automatically. It’s definitely one of the best uses of association management accounting software.

Pay Bills and Invoices Online

Another way to make effective use of association management accounting software is through online payments. As an HOA/COA manager, you’re responsible for helping your clients pay their bills and invoices. A modern accounting software, like CINC, can enable you to do this online, without the hassle of mailing any paperwork.

User your association management accounting software to pay invoices on the client’s behalf. Vendors can submit an electronic invoice for their services, which you can pay with the click of a button. You can also see when the money is withdrawn from your client’s account and keep an updated, real-time budget.

Additionally, you can use association management accounting software to track and timely process HOA/COA’s regularly scheduled bills. Many associations pay for ongoing services like landscaping, waste disposal, site maintenance, and security. Set up automatic payments for these bills so you’ll never forget a payment deadline.

Create Web Portals for Resident Fees

Finally, make sure you’re using your association management accounting software to process resident fees. Collecting resident fees is an important part of any HOA/COA manager’s job. Unfortunately, it can also be an arduous task at times. You have to collect checks, deposit them at the bank, then keep track of which residents have paid and which ones are delinquent.

Association management accounting software streamlines all of this. Using your association management accounting software, you can create a convenient web portal for your client’s residents. This allows them to pay their association fees online via credit card or eCheck. Residents prefer this method because it saves them time. In some cases, they can also schedule their payments automatically.

In this way, as the HOA/COA manager, you’ll see when each fee payment comes through. The payments are automatically deposited into your client’s account, and the software automatically generates a list of residents who still need to pay. This makes it easier than ever to collect HOA/COA fees for your client.

To learn more about CINC Systems, request a free demo or call (855) 943-8246.

Good software is the key to success for any business in today’s world. Whether you’re managing a homeowner association (HOA) or condominium association (COA), choosing the right software is vital. An effective software can help you with accounting, client management, and more. So how do you choose the best association management software for your HOA/COA management business?

Often, association managers find themselves at a crossroad when choosing new software. Should you choose association management software or customer relationship management (CRM) software? What’s the difference, and which one will be a better fit for your management company? Whether you’re new to the industry and buying software for the first time, or simply upgrading your current systems, it’s important to choose wisely.

At CINC Systems, we understand the unique needs of your clients’ HOAs and COAs. We created our cloud-based management software to help association managers with everything from association accounting, payment processing, resident web portals, turn-key solutions, and more. To see how CINC can streamline and improve your association management business, request a free demo or call (855) 943-8246.

But if you’re wondering about association management software vs. CRM software, keep reading. Find out why association management software is the best choice over CRM software for your HOA/COA management company.

What Is Association Management Software?

Before deciding which software to purchase for your association management business, learn about the key differences between association management software and CRM software. First of all, what is association management software?

The answer is simple. Association management software, like CINC Systems, is any software program or cloud-based app that’s been specifically designed to manage HOAs and COAs. Sometimes known as association management systems (AMS), this type of software usually includes the following features:

• Automatic Bank Reconciliation: Link your clients’ bank accounts to your software dashboard so you can receive updates about financial transactions in real-time, automatically, and in one convenient place.
• General Ledger Accounting: Monitor your clients’ budgets, track expenses, and balance the books online.
• Resident Payment Portals: Setup an online payment portal, allowing your clients’ residents to pay their association fees via credit card or eCheck.
• Track Work Orders and Maintenance Requests: Allow residents to submit work orders and maintenance requests, then organize the jobs by date, category, and priority, and track the work order in real-time.
• Generate Financial Reports: Automatically create financial reports for your clients’ association boards, focusing on specific data categories or timeframes.
• Online Resident Directories: Create an online resident directory for your clients, allowing you to track notifications, fee payment status, violations, and more.
• Distribute Documents, Updates, and News: Use association management software to upload your clients’ HOA/COA governing documents to a web portal, where residents can access this information at any time, and easily send out relevant updates and news on behalf of the association.

Additionally, most association management software is designed to be scalable. This means it can handle the needs of any association, whether your clients are small COAs or large HOAs with dozens of properties.

What Is CRM Software?

If you’re weighing the advantages of association management software vs. CRM software, the next step is learning exactly what CRM software is. Common CRM software that you may have heard of include Salesforce, Microsoft Dynamics, and Siebel.

In a nutshell, CRM software is all about customer service, marketing, and sales automation. The CRM features functionalities usually include:

• Contact Management: This enables users to segment their customer database into different groups, organizing them by categories such as gender, age, region, or prior contact history.
• Lead Management: Most CRMs offer the ability to process data specifically for leads, highlighting potential customers who are more likely to purchase whatever is being sold.
• Sales Analytics: Allows companies to track sales by date/time, customer category, salesperson, and other metrics enabling them to streamline their sales strategy.
• Salesforce Automation: Automatically schedule follow-up emails, reminders, and other sales campaigns to increase conversions in the customer base.
• Marketing Tools: Track the success rate of advertisements and easily create new marketing campaigns, such as email newsletters.

However, every CRM is slightly different. Like association management software, there are many different CRM programs with different features designed for specific types of companies. If you’re considering a CRM, make sure you research each software program and read customer reviews.

The Differences Between Association Management Software and CRM

Now that you understand the unique features of association management software and CRM software, it’s time to highlight the key differences. The primary difference is that association management software is meant to handle the needs of HOAs and COAs, while CRM software is for sales and marketing.

As an association manager, you need software that can help you deliver the best service to your clients. Association management software will improve your day-to-day tasks while streamlining big projects and helping you reach your business goals. Association management software also includes very useful accounting features.

If you’re running a big association management company with a large client portfolio, you may benefit from a CRM program as well. CRM software can help you market to new clients and increase your business. However, most association management companies can succeed without CRM software.

To summarize, your HOA/COA management business needs association management software. CRM software can offer certain benefits, but for the majority of association managers, it isn’t essential.

Choosing the Right Software for Your Business

If you’re still not sure how to choose the right software for your association management business, there are a few factors you can consider. Begin by making a list of all current and prospective clients. Write down your job responsibilities for each client. This will help you look for software that has all the features you need.

Next, consider your software budget. If you only have enough to invest in one type of software, choose an association management software. If you have extra money in your software budget, do some quick math to determine whether CRM software is worth it.

If you believe CRM software can pay for itself and grow your business by reaching new clients, it may be a good idea to purchase one in addition to your association management software.

As a homeowner association (HOA) or condominium association (COA) manager, you have many choices when it comes to software. From general accounting programs to software designed specifically for HOAs/COAs, there are multiple options for managing your own business and your clients’ daily operations. However, there is often some confusion about which type of management software is the best choice for HOAs/COAs.

One common question concerns the difference between association management software and membership management software. What makes each type of program unique? Is association management software or membership management software better? Which one should your HOA/COA management company use?

Although your HOA/COA management business may have unique needs, association management software is generally the best choice for your company. Association management software platforms like CINC Systems are specifically designed for companies that work with HOAs/COAs, whereas membership management software is used differently.

By highlighting several key differences between each type of software, it’s easy to understand why your HOA/COA management company should choose association management software. Let’s take a closer look at association management software versus membership management software.

Accounting Features

First, association management software includes numerous accounting features that membership management software doesn’t have. Typically, membership management software is used by nonprofits and various special interest organizations, such as amateur sports leagues or hobby groups. While these membership organizations do have financial structures, their accounting needs are considerably less complicated than an HOA/COA.

As an HOA/COA manager, your job includes many financial duties. You’re responsible for collecting resident fees, balancing budgets, managing accounts payable and accounts receivable, and generating financial reports for your clients’ HOA/COA board. You also need to be able to assist your clients with financial audits and tax preparation.

Association management software like CINC Systems is robust enough to handle all these needs, and more. In many ways, association management software is like having your own personal accountant specializing in HOA/COA clients. Membership management software, however, doesn’t have these same features. If there’s any financial functionality in a membership management software program, it will be very limited compared to the features of association management software.

Professional Management Features

Similarly, association management software offers many professional features that aren’t included in a standard membership management program. These are the key features that help you to streamline your daily operations and manage your clients’ HOA/COA. Association management software is designed by people who know the industry and understand what you need. Membership management software is much more broad and generic.

For example, HOA/COA managers need turn-key solutions for running their clients’ associations. Association management software thus includes the ability to set up an online web portal for work orders, where residents can submit necessary repairs online 24/7. Your HOA/COA management software lets you organize these work orders by date, category, or priority, then send electronic updates as the work progresses.

Association management software also allows you to create an electronic resource for your clients’ residents, where they can download documentation such as the community’s rules, event calendar, and announcements. To see how association management software can improve your clients’ communities, call CINC Systems at  (855) 943-8246 for a free demo.

Price Points

When asking about the difference between association management software and membership management software, another consideration is the price point. Which type of software is cheaper? Naturally, this varies by manufacturer. Additionally, some software is a one-time purchase, while others require a monthly or annual subscription fee.

In general, membership management software tends to be less expensive overall than association management software. However, membership management software doesn’t include many of the important features you need to support your HOA/COA clients. Even if the software itself is less expensive, you’ll end up paying more because you’ll need to purchase additional accounting software and other programs to fill in the gaps.

Membership management software will also cost more, in the long run, because it isn’t as efficient as software designed for HOA/COA management. This reduced efficiency means you’ll waste valuable time that could have been spent focusing on new clients or other aspects of your association management business.

Social Features and Interactivity

Another difference between association management software and membership management software is interactivity. Generally, both types of software include mass communication functions, such as email lists and electronic announcements.

However, membership management software tends to be more socially oriented because it targets social groups. For example, membership management software may include more message board or chatroom functionality.

Although social features can be a nice perk, they aren’t a high priority for HOA/COA management group. If your client wants you to create better online communication channels for their residents, you can set this up for free via Facebook groups or other methods.

Professional Tech Support

Next, association management software tends to have stronger technical support than membership management software. This is one of the many benefits that come with more professional software. It’s another reason why it’s worth it to invest in more expensive software for your HOA/COA clients.

As an HOA/COA manager, some of your clients may need you to be “on-call” after business hours. Because of this, many manufacturers of association management software offer 24/7 customer support. If your software malfunctions, you’ll be able to get help right away. Membership management software support usually isn’t as responsive because the needs aren’t as time-sensitive.

Cloud-Based Data Encryption

Another reason to choose association management software instead of membership management software is cloud-based data encryption. When you manage an HOA/COA, you’re dealing with a high volume of very sensitive data. In addition to the financial data of your clients, you’re also handling their residents’ personal information. Because of this, you need software that’s very secure.

When you choose association management software that’s cloud-based, such as CINC Systems, your data is spread across multiple servers in different locations. It’s also secured using encryption technology. This means that the data is “scrambled” once it’s uploaded into the cloud. Even if it’s hacked, the information can’t be accessed because the hacker doesn’t have the right key code.

Choose Association Management Software

Given the numerous advantages of association management software versus membership management software, it’s easy to see which one is right for your HOA/COA management business. Switch to cloud-based HOA/COA management software today and see how your association management business can truly thrive.

Community association management accounting software is a powerful tool for management companies. Whether your clients are large homeowner associations (HOAs) or small condominium associations (COAs), accounting software will make your job much easier. But how often should community association management accounting software be updated?

As with any technology, accounting software (and how you use it) will change over time. If you’re using the same community association management software from three years ago with no updates, you’re likely to run into a number of problems. From slow processing speed to security issues, old software can negatively affect your business. That’s why it’s important to update.

How often you should update your HOA/COA management accounting software depends on several factors. Here’s what you should consider before updating.

How Do You Use HOA/COA Accounting Software?

First, consider how your association management company uses accounting software. What services do you provide for your clients? As an HOA/COA manager, your duties may range from collecting resident fees and paying vendor invoices, to balancing accounts and generating financial reports for board members.

If you’re using community association management accounting software for complex tasks and big picture projects, you may need more frequent updates. Just as a car engine needs more maintenance than a bicycle, HOA/COA accounting software will need more updates when it comes with more features and more power.

Security Measures Used to Protect an Association’s Data

Second, examine the security measures used by your association accounting software. How does your HOA/COA software protect your clients’ private data? Is it stored in the cloud across multiple servers? Does the software developer use strong encryption and protocols such as firewalls and antivirus software?

Often, a software developer will release updates to address security issues. Many software developers issue a standard security update a few times a year as a precaution. Always install these security updates as soon as you can.

What to Consider When Updating HOA/COA Accounting Software

After you’ve considered how your company uses HOA/COA accounting software and examined security features that may affect standard updates, it’s time to look at other factors that govern the frequency of your updates. Here are some common reasons why you’ll need to update your association accounting software:

The Software Developer Identifies a New Security Issue

Aside from general security updates, the software developer may issue an update after identifying a new security issue. Hackers release new computer viruses and malware programs all the time, so software developers need to keep up. Many developers hire security experts to identify “holes” in their software, then create solutions before those holes are exploited.

Additionally, software developers may ask you to update if there has been a data breach or other incidents at their company. Even if your clients’ data is not affected, we encourage you to update your HOA/COA accounting software whenever you are instructed to do so. Don’t wait!

The Developer Adds New Features, Improves Performance and Fixes Bugs

Security issues aren’t the only reason developers update their software. Software companies are always innovating their products to provide you with the best community association management accounting software. They often redesign their software to add new features, improve performance speed, or fix bugs.

These updates will help your association management company streamline your business. Updated software tends to be faster and more intuitive than older versions. Although an update for new features, performance, and bugs may not be as time-sensitive as a security update, we still recommend updating as soon as the developer suggests it.

Changes in Your Management Company

There are many types of software updates. As mentioned above, software developers usually release updates based on security issues and new features. However, sometimes the best update for your company means switching to a newer, better HOA/COA accounting software program altogether.

You may wish to update your company’s software to an all-in-one cloud platform like CINC Systems for several reasons. As your business expands, you’ll need association accounting software that can handle more clients and offer more complex management features. You may also need to create extra accounts as you hire new employees.

Changes in Your Clients’ HOA/COA

Similarly, you may need to update your community association management accounting software as your clients evolve. The HOA/COAs you manage may grow in membership, expand their Board, add new properties, and make other changes that affect your management.

You may need to update your accounting software so you can take on new management duties. For example, a client may wish to implement a web portal for resident fees or add new, shared recreation spaces that require an online reservation system. As your management business grows and your clients’ needs become more complex, it’s important for your association accounting software to keep up.

New Tax Laws, Municipal Codes, and Community Regulations

Finally, your association accounting software update frequency may depend on tax laws and municipal codes. HOA/COA accounting software includes many features that will help you manage your clients’ finances, especially during tax season or internal audits. Whenever a state or federal tax law changes, you’ll need to update your accounting software accordingly.

You may also need to update to adhere to new municipal codes or community regulations. Whether issued by the county, city or the association board itself, an HOA/COA will often need to change its operations strategy. This means your association accounting software must keep up and evolve alongside the community you manage.

Stay Up To Date with CINC Systems

If you’re wondering how often community association management software should be updated, try CINC Systems. CINC Systems is always updated with the latest features.

At CINC Systems, we make sure our platform is always secure and always providing the top features you need to manage an association. We have our finger on the pulse of the HOA/COA management industry, so our software is constantly evolving to keep pace.

Click here or call  855.943.8246 to try a free CINC Systems demo today.

When you’re managing an association, you’re going to need help. It can be a lot to handle, with responsibilities ranging from daily maintenance to big picture planning–not to mention solving resident disputes and other issues that may pop.

And that’s before getting into the financial side of it. Managing a homeowner association (HOA) or condominium association (COA) requires a lot of number-crunching. You must process resident fees, pay utility bills, handle vendor invoices, and keep an eye on the association’s cash-flow so your client stays on budget. If you’re not careful, all the paperwork and the receipts will really start to pile up!

Luckily, you’re not alone. CINC Systems makes HOA/COA management easy, with accounting software specifically designed for any association’s needs. It has many features that will help you tackle all of your client’s HOA/COA financial needs.

Here’s a quick look at some of the best features of association management accounting software.

General Ledger Accounting

Before computers, managing an HOA/COA meant lots of manual accounting. You needed filing cabinets for all your clients’ resident and vendor information, plus receipts and invoices. Paying bills meant writing checks and mailing them out. You had to balance the association’s checkbook by hand to make sure accounts weren’t being overdrawn. You had to double-check everything, in person, at the bank.

Thanks to accounting software, managing an association’s money is now fast, convenient and efficient. HOA/COA accounting software offers general ledger accounting, which means you can track all of your client’s financial transactions in one place. Financial data gets stored securely in the cloud, organized by date or category, and updated automatically. You’ll never have to balance a checkbook again.

Automatic Bank Reconciliation

One of the most time consuming and yet important tasks in association accounting is reconciling bank accounts. With great banking integrations such as CINC Systems has, that burdensome task can be handled automatically. The monthly reconciling of your client’s accounts is one of the best ways to protect against fraud and theft, your primary fiduciary responsibility to your association clients!

Online Payment Processing

Tired of collecting resident fees in person or by mail? Well, your client’s residents are probably just as tired of paying that way. Association management accounting software eliminates the slow, old-fashioned process of submitting and receiving paper check payments. You will be able to create a website where HOA/COA residents can pay their fees online via credit card, debit card or even direct withdrawals.

Online fee payment processing is a win-win for everyone involved in the association. Residents can create email notifications to remind themselves to pay on time, or even schedule autopay. Association managers save time because fees will be automatically processed and deposited. You can also maintain an automatically updated database of who has paid and who is overdue. As a bonus, online fee payment processing allows everyone involved to go paperless.

Invoicing and Accounts Payable

Invoicing and accounts payable are other convenient features of association management accounting software. This can include everything from utilities and insurance to upgrades and repairs. Whether it’s a monthly recurring bill or an invoice for a one-time job, accounting software will allow you to process payments online.

With association management accounting software, vendors can submit their invoices via email or the HOA/COA’s payment portal. You can then pay right away at the click of a button. Because the association’s bank accounts are linked to your software, you’ll also be able to see each transaction process in real-time. This helps balance the association’s budget.

Generate Financial Reports

When you manage a housing association, financial transparency is very important. You’ll need to keep your client’s board members up to speed with regular information about their association’s financial health. Whether it’s a monthly, quarterly or yearly update, you will need to generate financial reports to back up your analysis.

But put away the graph paper! Thanks to association accounting software, you’ll be able to generate financial reports automatically. Use your accounting software to create custom templates for your Balance Sheet, P&L and Investment Accounts.  You can also narrow your data to specific time periods or categories. These custom financial reports can then be emailed or shared with clients by an app.

Real-Time Mobile Access to Accounts

Many association accounting software programs are cloud-based, with easy-to-use mobile apps. This means you can access your client’s accounts in real-time on your phone or tablet, any time, anywhere. Going mobile is also convenient for managers with large portfolios. Transitioning from one community to the next can be a seamless process when you use cloud-based software for managing associations.

Try CINC Systems Today

With all the great features listed above, association accounting software is an HOA/COA manager’s best friend. Accounting software is well worth the cost because it will automate many of your daily tasks, enabling you to work more efficiently. If you’re not already using industry-specific accounting software to manage your client’s association, you’re missing out!

CINC Systems is one of the best platforms available for HOA/COA accounting. It’s a cloud-based, all-in-one platform that offers customizable website portals and integrated banking. CINC Systems board reports keep the HOA/COA informed, while our iPad app lets you manage the association from anywhere.

Try CINC Systems today and see how our platform improves the association you manage. Request a free demo now.

Managing a condominium-owner association (COA) requires patience, organization, and hard work—in other words, it’s a big responsibility. It’s rewarding, but also challenging. Luckily, there are many software programs and cloud-based apps that can make the job easier than ever. CINC Systems is one of them.

Condo management software comes with many options and features. Some programs and apps are designed for small COAs, while others have been created to handle the unique needs of a much bigger association. Whether you need accounting services, member web portals or tools to manage maintenance and repairs, we have the right COA management software for you.

How do you know which COA management software is right for your business? There are many factors to consider when evaluating condo management software. Here are some ways you can evaluate COA management software and find the perfect program or app for your COA clients.

Assess Your COA Client Needs

Every COA is different, so begin by assessing your COA client’s needs. Consider what makes your client’s community unique and make a list of the areas that could use greater efficiency. Does the association have complicated finances that need to be organized? Does their community have shared multi-purpose spaces that would benefit from an online reservation system?

Most COA management software programs are customizable, but some may have extra features you won’t need. Conversely, if your COA clients require lots of management tools for processing invoices and expense reports, make sure you commit to a COA management program that can get the job done. It is critical that you decide whether or not the software is user-friendly.

Once you’ve figured out exactly what your clients need, it’s time to search COA management software for those amazing extra features that can improve your efficiency.

Look for Financial Accounting Features

The best COA management software will include features that will make it easier to manage association finances. Look for COA management software like CINC Systems that can be synced to bank accounts. When you link your bank accounts to your management software, you’ll be able to see your account balances and transactions in real time.

Accounting features are highly useful budgeting tools. Use COA management software to upload receipts for expenses, track operating costs and generate detailed financial reports. Condo management programs and apps eliminate the difficulties associated with traditional paper bookkeeping, allowing you to be more organized.

COA management software with accounting features will also make it easy to file taxes. Many programs can adjust for local and federal taxes, deduct expenses and prepare spreadsheets for CPAs. In the event of a tax audit, management software will ensure that your organization has everything it needs in one convenient place.

Create Payment Processing Portals for Residents and Vendors

We recommend choosing COA management software that gives you the ability to create an online payment portal. Residents can use an online portal to pay association fees anywhere, 24/7. This eliminates the arduous process of collecting paper checks and waiting for checks to clear. Most payment portals also give residents the option to schedule reminders or set up auto-pay.

Vendors can also benefit from COA payment portals. They can submit invoices online, which you can pay immediately. Regardless of your COA client’s other needs, association management software that offers this feature is important, so make sure your condo management software can create online payment portals.

Online Reservation Systems for Shared Community Spaces

Use CINC’s COA management software to create an online reservation system. This will allow residents to schedule events online on their computer, tablet, or smartphone. Calendars can be updated automatically, in real time, to eliminate conflicting appointments. This will automate reservations and save time for everyone involved.

Reservation issues are among the most common disputes between residents in condominiums with shared spaces. If you manage associations with shared community spaces such as pools, gyms, laundry rooms, or multi-purpose rooms, a reliable scheduling system is vital.

Work Order and Maintenance Management

Managing work orders can be one of the most tedious tasks of an association manager. Thankfully, COA management software can streamline this process by allowing you to create a website or online portal where residents can submit work orders directly. They can do so any time of day, and even include photos or videos of the work that needs to be done.

As an association manager, you can sort work orders by date and time, priority, difficulty of work and category. You can also send updates to the residents who submitted the work order so they can monitor the process in real time. Using an online work order submission process will ensure that COA management functions faster than ever.

Choose Software Within Your Budget

Finally, evaluate condo management software based on your budget. Using COA management software can make association management more efficient, eliminating the need for extra jobs and support staff. The financial services provided by accounting software can also save money that would otherwise be allocated to a CPA.

COA management software comes in a variety of price points. Some programs and cloud-based apps are available with a one-time purchase, while others require a monthly subscription. Determine how much your business can afford to spend on management software and choose accordingly. Make sure you commit to software that gives you the most features for the best price.

Evaluating Condo Management Software Is Easy

When you consider the factors above, evaluating COA management software is easy. Adopt the CINC Systems association management program or app today and experience the benefits. You’ll discover the many unique ways using condo management software can help your business prosper.

Association management companies benefit from accounting software in several ways. Whether you manage a large or a small homeowner association (HOA), the right accounting program or mobile app will strengthen your approach. It can streamline the way you run your business and cut costs. If you don’t currently use accounting software, or if your software is outdated, you’ll discover a number of benefits when you switch to a new system such as CINC Systems association management software.

Accounting software for association management makes it easier than ever to track finances, pay and send invoices, communicate with residents, and process work orders. What’s more, by creating web portals for residents, CINC can help your association management team increase operational efficiency and free up more resources to devote to other areas of business.

For many businesses, managing an HOA can be a lot of work—but it doesn’t have to be! Incorporate CINC’s accounting software into your association management business and see the benefits for yourself. Different software and apps come with different features; however, most association management programs offer a few basic, universal tools that will be useful to any client.

Here are some of the ways accounting software like CINC Systems and apps give your association management company an advantage:

Track Finances and Improve General Accounting

Accounting software is the ultimate way to stay organized. This type of software can be linked directly to a homeowner association’s bank accounts, which means you’ll be able to monitor client deposits and withdrawals in real time, allowing greatly improved financial management.

Association accounting software can also generate specialized reports that you can send to residents, board members, or investors via email. These reports can be customized to give a snapshot of specific time periods or categories, like expenditures versus income.

Using association accounting software will also improve your clients’ accounting process by streamlining their data. Instead of scanning receipts, filing invoices, and double-checking figures with bank statements, CINC Systems allows you to keep all HOA financial data in one convenient, secure dashboard.

Increase Efficiency for Association Managers and Other Employees

By implementing CINC’s online accounting system, your association management’s staff will save time by using one program or app to manage the HOA instead of multiple systems. An added bonus is that physical paperwork will be reduced.

Association accounting software also lets staff be mobile. This is a key benefit for large homeowner association clients, whose homes are spread out across a wide geographical area. By accessing accounts online, association managers won’t be chained to their desks. They can use a laptop, tablet, or even their smartphones to submit and pay invoices, track work orders, communicate with HOA members, and manage community scheduling.

Pay Association Fees and Receive Payments Any Time, Anywhere, 24/7

Most homeowner association software tools enable managers to create unique web portals for their HOAs. This powerful feature dramatically improves the streamlining of HOA finances. With a web portal, members can pay association dues and other fees online from any location, day or night.

This frees association managers from the arduous, time-consuming task of collecting association fees in person or by mail. It also reduces processing time because fees will be directly deposited into HOA accounts electronically via debit or credit, rather than by check. Members benefit because this feature allows them to automatically schedule fee payments.

Submit Work Orders Online

Managing work orders online is another perk of using an association management accounting software web portal like CINC Systems. Association management software tools give residents the ability to submit work orders online and include relevant photographs or videos to capture the item that needs repairing.

Managers can sort work orders by submission date, priority, location, category or other custom variables. They can get a digital snapshot of the work that needs to be done and schedule repairs accordingly. Association management software also allows managers to receive online invoices for labor and materials, which can be paid immediately with a few clicks.

Both managers and clients can track the status of a work order in real time and see when the job has been completed. This system leads to faster repairs and more satisfied members.

Automated Billing for Monthly Maintenance Services

Tired of paying lots of bills each month? CINC’s association accounting software gives you the ability to automate your clients’ A/P. Just connect your bank accounts to your association software or app, and you can schedule regularly occurring payments. This can cover utilities, waste pickup, landscaping, maintenance services and more.

Third-parties such as plumbers and general contractors can also submit invoices online, which you can pay immediately with the real-time funds available in your bank accounts. This is one of the best features of association accounting software because it slashes paperwork and ensures a balanced account sheet.

Improve Communication Among Residents

CINC’s association accounting software can also improve communication between residents. If the HOA you manage has shared community spaces, such as gyms, pools, laundry rooms, or rec centers, you can customize your accounting software’s web portal to handle the scheduling online. An online reservation system for these shared resources is a significant improvement over traditional methods.

Among its many other convenient features, CINC’s software can be used to create and maintain resident directories. This is helpful for making announcements, scheduling meetings and planning community-wide events for holidays or other celebrations. Residents can also use their web portal to communicate discreetly with management and staff if they experience disputes with their neighbors.

Many Association Benefits, One HOA Software

Homeowner association software offers many benefits in one neat package. It’s convenient, efficient and affordable. Try CINC Systems HOA accounting software or cloud-based apps today and see how these online tools can facilitate the lives of your clients!