An individual looking to buy a new property has to deal with several brokers or property agencies. They are usually nervous while finalizing the deal as they are unsure about the property and neighborhood. HOA Management Software’s introduction will likely change the game for property buyers.
HOA stands for Homeowners Association, an organization responsible for maintaining and managing the residential area. They establish new rules and guidelines for the residential community that everyone has to follow. The board members of the HOA are also residents of the same community.
- Why Should You Invest in HOA Management Software?
- What Are the Benefits Associated with HOA?
- Features of HOA Management Software
- How to Develop an HOA Management Application?
- Top Industry Leaders for HOA Management Software
- Which Technology Is Used for Developing HOA Property Management Software?
- Things to Consider When Choosing HOA Management Software
- How Much Does It Cost to Develop an HOA Application?
- Bottom Line
- Frequently Asked Questions
Why Should You Invest in HOA Management Software?
HOA represents the Houseowner Association and has been growing consistently over the past couple of years. Currently, the HOA is responsible for representing 50% of US homeowners. The HOA industry has generated around $38.5 billion in revenue in 2022. The growth rate of the industry since 2017 is approx. 1.4% per year.
Most U.S. citizens are now considering being a part of the HOA as they are coming across its benefits. Maintaining property value, amenities, security, and architectural controls are a few of the most common benefits associated with an HOA. It portrays the industry’s potential and the perks of investing in HOA management software.
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What Are the Benefits Associated with HOA?
Property Value Protection
HOA has the authority to implement certain rules that help maintain a property’s look and appeal. These rules further assist in maintaining the value of the property over a long period.
Common Area Maintenance
The HOA is responsible for maintaining the property’s common areas, like parks, swimming pools, banquet halls, etc. HOA ensures that the amenities stay in top-notch condition to provide a better experience to the residents.
Amenities and Services
The homeowner association offers modern amenities to its residents, such as parks and pools. The residents can use these amenities and enjoy living in their society.
Reduced Expenses
The common areas, amenities, and basic services are shared by the community’s residents. It lets the HOA board crack a better deal on services like garbage collection, road cleaning, etc.
Security
The HOA also invests a handsome amount in the security of residents. Security guards are appointed who patrol day and night, ensuring the safety of residents.
Features of HOA Management Software
Online Payment
Residents have to pay HOA fees every month for the maintenance of the society. It would be great if they could pay the dues online through the application and get a receipt.
Communications
Society members need to communicate and get to know a bit about each other. Hence, an HOA management app must have a communication feature that lets residents initiate communication with others in their neighborhood.
Maintenance Request
Residents should be able to raise maintenance requests directly through HOA applications. It will save a lot of time and will be convenient for both HOA and society members.
Voting
The HOA head is elected by those residing in that area. Voting for elections or other important topics should be done through the application. It will be easy for the HOA board member to keep a count of the votes. Also, it will benefit residents as they can conveniently convey their votes.
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Issue Reporting
If anyone living in the HOA property faces any sort of issue like safety concerns or rule violations, they should be able to report it in real-time through the application. The HOA Board will be notified sooner, and quick action to resolve the issue can be initiated.
Documentation
All the documentation and legal paperwork of every house or flat in the society should be available to its owner and the HOA Board on the application. Online stored data can be easily accessed through digital mediums when required.
News and Updates
The HOA community conducts frequent meetings to validate new actions and decisions for the welfare of society. The results of the meetings and other important announcements can be updated on the HOA application to keep the residents updated with the new rules and regulations.
Amenities Booking
Using this feature, the residents of the society can conveniently reserve the amenities like swimming pools, banquet halls, etc., for a small party or get-together.
How to Develop an HOA Management Application?
The procedure of developing an HOA Management application is quite complicated and a lengthy process. It also requires a lot of professionalism and expertise in software development. Thus, we recommend hiring the best HOA Management application developers that fit your budget.
Scope
First, it is compulsory to study the requirements and aims of the HOA Management app. This step includes defining the target audience and integrating features into the application.
Designing
As the whole case study around the application idea is completed, another step is initiated, including creating an engaging design for the application. Different layouts, colors, and fonts were tried to create a prototype and wireframes of the application.
Development
Next, developers come into action and start the development process by leveraging the latest technologies to create robust and advanced applications. A fully customized application is developed from scratch according to HOA software requirements.
Integrating Features
Once the application is developed, it’s time to in: If anyone living on the HOA software property faces any issue like safety concerns or rule violations, a team of testers comes to action and tests the application from top to bottom. All the bugs, errors, and glitches found are fixed. Further, it is ensured that the application is functioning smoothly.
Deployment
After the complete testing, the applications are deployed and made available to users. The application can be found on the web, Play Store, or App Store, depending upon the platform used to develop it.
Maintenance & Support
The application needs maintenance and support over time to run smoothly. Therefore, the application is maintained and upgraded with cutting-edge technologies. All the errors and bugs are fixed in real-time.
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Top Industry Leaders for HOA Management Software
Buildium
It is one of the leading property management software that helps the HOA board member have strong control over every aspect of the business. It includes mastering operations, making residents feel comfortable, etc. Buildium also offers optimal support to its customers and also provides on-demand drilling. It comes along with monthly and annual subscription offers. A full-fledged video guide is also provided to assist new users in learning about Buildium and its functionalities. It integrates top-rated features like communication, accounting, violation tracking, online payment, etc.
Pricing – $52
Free Trial – Available
Year Founded – 2004
Headquarters – United States
Website – www.buildium.com
Condo Control
It is deliberately designed to allow good management and communication between the HOA management and residents. The application has a user-friendly interface. Condo Control lets users communicate through e-mail, voicemail, and text messages. Both time and money can be saved by automating Condo. Condo Control is integrated with online payments, service requests, amenity bookings, and more like any other excellent application. It is one of the best solutions for property managers and tenants to streamline operations.
Pricing – $35
Free Trial – Not Available
Year Founded – 2008
Headquarters – Canada
Website – www.condocontrolcentral.com
AppFolio Property Manager
The HOA Board and society members highly appreciate it. The application offers 24×7 support to provide help whenever needed. AppFolio Property Manager also offers powerful tools that help streamline the work. It is powered by features like – accounting, violation tracking, etc. It has a tech foundation that helps businesses manage their regular tasks efficiently. The best part about this application is that it is quite affordable.
Pricing – $1.4
Free Trial – Available
Year Founded – 2006
Headquarters – United States
Website – www.appfolio.com
Yardi Voyager
It has been diligently designed so that people with technical and non-technical backgrounds can easily operate it. It has been built using the latest technologies, and as a result, it offers powerful accounting functionality and report generation. It is a browser-based software that can easily be accessed on any smart device. Yardi Voyager is feature-rich software with all the essential tools for managing Homeowner Associations and Condominiums. It has an intuitive design so users can easily operate and work their way through the application.
Pricing – $1200
Free Trial – Available
Year Founded – 1982
Headquarters – United States
Website – www.yardi.com
Bitrix24
Last but not least, Bitrix24 is well-recognized property management software. Using it, homeowners can have important discussions and vote on different initiatives. The software offers 35+ business tools that assist HOA to run their business smoothly. It also offers automated sales processes to let the company employees focus on more important tasks. The workload planning feature equally distributes the tasks among employees to help with the proper planning and execution of tasks.
Pricing – $61
Free Trial – Available
Year Founded – 1998
Headquarters – United States
Website – www.bitrix24.com
Also Read: Top Real Estate App Development Companies
Which Technology Is Used for Developing HOA Property Management Software?
Technology plays an important role in app development for iOS and Android. Leveraging the latest technology is recommended as it has a direct impact on the application’s performance.
Frontend Frameworks
Most reliable and robust frameworks like Vue.js, React, and Angular are utilized to create the user interface of the HOA management application. The framework contributes to creating dynamic and responsive interfaces for app users.
Backend Frameworks
Laravel (PHP), Ruby on Rails, and Django are the best-in-class backend frameworks, utilized to build a strong foundation for developing secure and scalable web solutions. These frameworks also offer features like routing, database integration, etc.
Programing Language
JavaScript, PHP, and Python are commonly used programming languages for web development. Each programming language has its positives and negatives. Therefore, the programming language used for building the solution depends upon the project requirements and the expertise of the developer.
Cloud Hosting
Microsoft Azure and AWS (Amazon Web Services) are the top picks for cloud hosting. It is responsible for creating scalable infrastructure.
Database
A database is a specific need of the HOA management software as it stores the data of the properties and their owners. MongoDB, MySQL, and PostgreSQL are commonly used for data storage.
Payment Gateway
HOA software needs a payment gateway to let members pay the HOA fees online. PayPal, Braintree, and Stripe are a few payment gateways that can be integrated into the application.
Read Also: Top Real Estate Apps to Find a Home or Office
Things to Consider When Choosing HOA Management Software
You will have many options to choose from when looking for HOA Management software developers, giving you a hard time. Well, here is a glance at the factors that can be considered to filter the best HOA Management software developer.
Budget & Pricing
Discussing the project is pointless if you and the iOS application developer are not on the same page when it comes to budget and pricing. Thus, be honest about your budget to the HOA management app developer and ensure you mutually agree on the financial terms.
Portfolio
The best possible way to find the best developers is to check out their portfolios. Make sure that the developer considered by you has previously worked on the same projects as yours. If the past track record of the developers and projects executed by them look good enough to you, then you can consider hiring them.
Interview
Another practice to filter out the best developers is to interview them. Question them about their skills and carefully listen to their answers. It will give you an exact idea about the skillset and expertise of the developer.
Tech Stack
The performance of an application is partially dependent upon the tech stack powering it. Therefore, ensure that developers have their hands on the latest tech stack and will use it to develop your HOA management software.
Read Also: How to Develop a Property-house Valuation Estimator App like Zillow?
How Much Does It Cost to Develop an HOA Application?
The development cost of the HOA application can vary depending on many factors. Experience and origin of the developer, application complexity, tech stack, features, application platform, etc., are some factors affecting the development cost. However, the rough figures for development are around $15,000 to $40,000. The best way to develop an HOA application on a tight budget is to hire developers from a nation like India. The developers found in India are highly skilled and are available at affordable prices. The developers can be questioned about their skills and hired for the project accordingly.
Bottom Line
The importance of investing in HOA management software/app is crystal clear now. All HOA Heads should consider the benefits of this sort of management software and invest in it to improve society. Investing in it benefits both, i.e., the HOA board and the residents of the society. Also, it will work as a communication bridge between the board members and the residents. Board members could convey the latest official announcement through push notifications. The residents could raise their concerns to HOA Board members through the application.
Also, make sure to hand over the project to the industry’s best HOA management application development service provider. Prefer questioning and interviewing the developers before finalizing them for the development project.
