Last modified on July 20th, 2018
By Christina Burch
Whether you own or manage HOA or COA properties, or some of both, it’s wise to stay up-to-date with the latest in the industry. Being at the forefront of trends can give you a chance to get ahead in the community association game – so you’re more likely to improve the value of your investment and run a smooth operation.
The demand for transparency is growing.
Property managers who manage HOA and condo associations should prioritize keeping homeowners and board members well-informed. However, keeping all stakeholders fully informed isn’t always easy or efficient. Having to manage communication across all properties – including document sharing, violation tracking, and architectural review tracking – can make staying transparent a challenge. However, today’s modern tools can support this expectation. More and more property managers are looking for software that supports streamlined communication and offers easy collaboration with owners through an online portal.
Amenities and renovations are still a driving factor.
Any property management company that manages HOA or COA properties should focus on the amenities those properties offer and any renovations that can help boost value. People want new, modern, and up-to-date options in their homes and condos. People want to live in nice surroundings with plenty to do, and that doesn’t just apply to buyers. Also, equally as important is keeping your properties in top condition. Maintenance management features in today’s property management software supports streamlined maintenance requests so you, and the homeowner, can be assured that the property is running smoothly. The latest in these tools also include mobile inspections options so you can assess and keep track of pending projects easier than ever.
Online payment methods are getting easier.
Paying HOA dues has never been easier or more convenient than it is in today’s market. The latest in modern software accepts a variety of convenient payment options so you can collect dues on time and with simplified tracking. Common key features of today’s streamlined accounting functionality also includes instant access to payment history and the ability to pay vendors via eCheck. Paired with across-the-board mobility so you can access payment options and other reports from anywhere, today’s property management software equips property managers of HOAs and COAs with all the tools needed to be at the forefront of the industry.