Association management companies have a lot on their plates. Whether you’re handling a large portfolio or running a large homeowner association (HOA) or a smaller condominium association (COA), you have many responsibilities to your client’s board members and residents. It’s up to you to ensure the success of the association you manage as well as its future growth.
One of the best ways to help an association is to use association management software. Association management software, such as CINC Systems, provides valuable tools to automate daily tasks and streamline efficiency. But how do you know what to look for in association management company software?
When you’re choosing association management software, we recommend looking for software that will meet the unique needs of your clients’ HOAs/COAs. Use this helpful guide to choose the best management company software for the associations you manage.
Every association is different. Are you managing a large HOA with many homes or a smaller COA with only a few units? Depending on the size of your client’s association, you will have different software needs. Make sure you choose management company software that can be customized to the specific needs of the HOA/COA you manage.
Look for scalable features designed for different types of associations. The CINC Systems platform can assist any type of HOA/COA, however, other association management company software may not be universally suited. Before investing in new software, do your homework and make sure it can handle all the unique needs of your clients’ homeowner or condominium associations.
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Next, look for management company software that includes bank account integration. Bank account integration means you can link an association’s financial accounts with your software interface. The client’s accounts will sync up automatically and you’ll be able to monitor the HOA’s/COA’s finances in one place.
Bank account integration is an important feature for any association software program because it also allows you to organize the association’s finances. It will make it easier to create monthly and annual budgets, help with balance sheets and perform general ledger accounting. Use CINC Systems for daily reconciliation of accounts, ACH options, lockboxes and more.
Collecting resident fees can be one of the most arduous tasks of an association manager. It requires notifying residents that fees are due, keeping a record of who has paid and who hasn’t, depositing checks at the client’s bank and waiting for these deposits to clear. Luckily, association management software can automate this process.
Look for management company software that gives you the ability to create online payment portals. Once you’ve created a payment portal for your clients, residents can pay their fees and fines online via credit card or e-check. They can also schedule reminders and autopay. Best of all, payments will process automatically, so the association can go fully paperless and you can avoid long lines at the bank.
We also recommend looking for association management company software that allows you to create website portals for work orders and maintenance requests. Dealing with work orders can be a headache, but when everything is online, you can create a streamlined system that handles repairs faster than ever. This will help you streamline your daily tasks and give you more time to focus on other projects.
Many association management software programs give residents the ability to submit work orders online. Often, residents can also upload a photo of the work that needs to be done. Once they submit a work order, you can organize it by date, category, and priority. This will help you organize and coordinate the job with vendors. You can also email status updates to residents.
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If your client’s homeowner association or condominium association has shared common use spaces, look for management company software that can create an online scheduling system. When you manage facilities like laundry rooms, gyms, tennis courts, or pools, you can save time and make your job easier by allowing residents to reserve these areas online.
Online scheduling systems allow residents to see when spaces are available and book them accordingly. You can also set hours, post rules and create announcements such as scheduled maintenance times. Using association management company software that allows scheduling systems will help your client’s community run more smoothly.
When choosing association management company software, look for a program or application that doesn’t come with a steep learning curve. Find software that’s easy to set up and intuitive to use. Although you may need to take a few hours to acclimate yourself in the beginning, your time is valuable and shouldn’t be wasted on overly complicated software. Look for programs that are user-friendly.
Additionally, your association management company should invest in software that offers mobile functionality. By storing your data in the cloud, you’ll be able to access your client’s data from anywhere. This is helpful for managers who cover a large association and need to be on-the-go. Software like CINC Systems offers a great mobile app that’s easy to install and use on your laptop, tablet or smartphone.
Finally, look for association management company software that can streamline your communication with clients. Communication is key to a successful association. Whether you’re notifying residents of overdue fees and violations, sending reports to board members, or making community-wide announcements, you’ll want to implement a system that makes communication easy.
Many association management company software programs include integrated call logs, one-touch emails, and newsletter functionality. Choose software that will also allow residents to ask questions and provide feedback online. Being able to automate communication with your client’s residents will make you a more efficient manager.
If you’re not already using association management company software to run HOAs/COAs, try CINC Systems today. Request a free demo and see how our association software can make a positive impact on your business.