Managing a homeowner association (HOA) or condominium association (COA) has many challenges. You’re responsible for an association’s finances, repairs and maintenance, and more. Although association management can be very rewarding, it can also be overwhelming.
That’s where association management software comes in. Using association management software like CINC Systems will make your job considerably easier. Software designed for HOAs/COAs can handle the unique needs of your client’s association. It will automate daily tasks, help you stay organized, and provide valuable tools for managing your business.
There are many types of association management software on the market. How do you choose the best association management software for the HOAs/COAs you manage? When buying a program or app for your client’s association, choose wisely. The following considerations will help ensure that you find the perfect management software for any HOA/COA.
Start by considering the size of the associations you manage. How big is the association’s board? How many households are in your client’s neighborhood or building? A big homeowner association with dozens of members will have different needs compared to a smaller condo association with only a few residents.
If an association is on the smaller size, you may not need all the bells and whistles (and higher price tag) of management software designed for a bigger organization. Conversely, if you’re managing a big HOA/COA, make sure you purchase management software that can handle all of the association’s needs.
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Next, consider the association’s physical assets. Does the HOA/COA have common spaces that need management? Areas like tennis courts, gyms, pools/spas or multi-purpose rooms can require extra attention. In addition to improved maintenance scheduling and cleaning, these spaces will benefit from an online reservation system.
If the association you manage has many shared common areas, choose management software that can let you create web portals for your client’s residents. This will make it easier for residents to book time in these spaces and eliminate scheduling conflicts. You can also use this platform to post rules and usage hours.
As you research the best association management software, consider how many people in your organization will be using it. If your HOA/COA management company has many employees, choose software that can create multiple user accounts. You may also benefit from software that can create user accounts at different “tiers” of access. You’ll want full administrative access to every feature, but you may wish to restrict other users.
For example, not everyone will need access to your clients’ financial data. We also recommend paying attention to privacy and security when choosing association management software. Make sure the software you choose will keep your clients’ data safe. And don’t forget to encourage your users to create strong passwords, which they shouldn’t share with anyone else.
When you’re managing an HOA/COA, accounting can be one of the most difficult and important tasks on your plate. Make sure you choose association management software that will help you organize and maintain your client’s finances. Software like CINC Systems offers web-based financials and bank reconciliation. This means you’ll be able to link all of your client’s bank accounts to your software and monitor them in real-time from one handy dashboard.
The best association management software also offers the ability to generate custom financial reports. Along with general ledger accounting, these reports will make it easier than ever for you to balance an association’s books. You can observe financial transactions and adjust the HOA’s/COA’s budget accordingly.
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If you’re shopping for the best association management software, consider whether an application can process payments online. This is a very valuable feature that will help your client’s association stay organized and let you focus on bigger projects.
With software like CINC Systems, you can create a web portal where residents can pay their association fees online. Fees are then processed automatically, saving you a trip to the bank. You can also use online payment processing to track who has paid their fees and who is overdue. Residents also love this feature because it’s more convenient for them, too. Choose association management software with online payment processing and go paperless.
Work orders are another aspect of HOA/COA management that can be very time-consuming. Luckily, many association management programs and apps make this easier. With the right association management software, you can create a web portal that allows residents to submit repair requests online, 24/7. They can also upload photos to document the work that needs to be done.
Once submitted electronically, work orders can be sorted by date and time, category, and priority. You can easily organize jobs and send notifications to residents about the status of the work order. This is one of the most valuable features of any association management software, so we recommend you look for this when you’re considering new software.
Finally, consider the computer system requirements of any potential association management software. Some programs require a dedicated computer server, while others are cloud-based, so you can run them on your tablet or even your smartphone.
Make sure your company’s current computer system can run whatever software you choose. If not, consider an upgrade.
When you’re considering buying software for association management, it’s important to do your research and make sure you have the best software for the needs of each client. Read reviews, get opinions from other association managers and do your due diligence to ensure you make a good choice.
We also recommend trying before you buy. That’s why CINC Systems offers a free demo: so you can see how our platform can help you get the most from your association management company. Try CINC Systems today, for free, and experience it yourself.