Why Virtual HOA Management Is The Way To Go
Technology has proven to be a lifesaver during the most recent challenging times brought upon us during the pandemic. With the right tech, you can do almost anything you want, anywhere and at any time.
During this time, most of us worked virtually and hardly ever went to the office. Board meetings, conferences, and many other gatherings, which would have traditionally taken place on site, were done remotely with the help of various videoing software, such as Zoom and Skype.
If anything, the Covid-19 outbreak and its related restrictions have taught us that working remotely is the new norm and probably the future. So, why don’t HOA board members adopt remote HOA management?
What is Remote HOA Management?
Remote HOA Management consists of outsourcing part of the association’s managerial activities to a third party (management firm) for remote management. The company doesn’t need to be physically present to provide such services.
For example, the HOA board can outsource its bookkeeping, accounting, and customer service duties to a company, to avoid hiring full-time workers. An HOA management company can provide annual reports, manage meetings, collect dues, and circulate memos to members.
They can also handle any complaints and usually find a solution without resorting to legal action. They will collaborate with the board of directors to ensure your association runs effectively like a well-oiled machine.
Virtual HOA management is the future because it not only saves time and money but it also provides enhanced services. The internet has made it easier for homeowners association management firms to deliver remote services everywhere.
How Virtual Homeowners Association Management Works
HOA managers rely on cloud and server-based data storage systems to store and manage the information collected from homeowners associations. After the collection, they process the data required by the communities and later forward them to the correct parties.
This makes HOA virtual management services economical and an efficient way to manage communities.
Services Provided by Virtual HOA Management Services
Services provided by HOA management firms vary and are based mainly on the needs and wants of the association. As already mentioned, the size of the association doesn’t matter.
The most important thing is overall cooperation and collaboration from the HOA board of directors in data and information supply.
Virtual HOA Management services typically include:
Financial Management
The backbone of every successful HOA is the ability to handle its finances, including collecting and managing HOA dues. Keeping track of other contributions and rendering proper accounts to its members is also critical.
When you let a virtual HOA management firm handle all your accounting and financial reports, it allows you to focus on more important things. Therefore, it is prudent for board members to delegate such tasks to an expert with a proven track record.
Dues Collection
Every HOA relies on the members’ dues to pay for its expenses and other financial obligations. However, some homeowners make dues collection very difficult. Without these funds, the association would be ineffective and plunge into financial distress.
You can eliminate the stress of this task by hiring a Remote HOA management company for handling all the dues collections. These companies can create tailor-made collection policies that consider all the community members’ financial obligations to develop a strategic strategy.
Office Tasks
Board members cannot be available 24/7 to tend to all the associated duties and could benefit significantly from outsourcing them to a reliable company.
Most HOA management firms render back-office services like maintenance tracking, emails, newsletters, document, and contract reviews and handle all the planning for upcoming meetings.
Some also provide legal guidance to the HOA board should the need be there. They can also handle any property violations and distribute warning letters to members who have violated the HOA rules.
Communication Handling
Effective and timely communication is vital when dealing with any community, including an HOA. It builds trust and reduces any form of suspicions among the community members. But, sometimes, the HOA board finds it difficult to communicate important information to members due to busy schedules.
By hiring an HOA management company, they can develop proper and effective communication channels with all the residents. Through weekly or monthly texts, emails, or by using a website, the company can reach out to all residents on time.
Home Insurance
Many homeowners have little to no knowledge about insurance policies and find it challenging to buy the right one. An effective HOA management company can handle informing and helping residents navigate through all the insurance options available.
They can partner with well-trained professionals in the insurance industry and advise residents about the various types of homeowners insurance available from trusted insurance companies.
Why an HOA Should Adapt to Digital Meetings
Aside from the above services, some remote HOA management firms also provide communities with virtual meeting services. Traditionally, Homeowners association meetings are held within specific venues in the community.
All members are required to be physically present for the meeting, and this is where the problem lies. It is tough to achieve 100 percent attendance during such sessions for several reasons, including homeowners having other important things to do.
However, you can avoid all these inconveniences with the use of technology. HOA board members can hold their meetings and general meetings electronically. Alternatively, you can delegate those duties to a competent HOA management company.
Top 5 Advantages of Online HOA Meetings
Thankfully technology has made previous cumbersome activities much more manageable. Physical meetings are gradually becoming a thing of the past thanks to software like Skype and Zoom.
You can hold meetings with anyone across the globe from the comfort of your home. HOA managers can use these platforms to improve their meeting attendance and get more accomplished in a shorter amount of time.
Here are some of the top advantages of virtual association meetings:
1. Increased Attendance
Virtual meetings can cut member absenteeism by more than half, as members don’t need to be there physically; they are more likely to attend. In the comfort of their home, they can join the meeting platform without any stress.
2. Higher Participation
An increase in attendance automatically increases active participation and engagement. Residents who are shy or lack public speaking skills can freely express their opinions, ask questions, and contribute to the day’s agenda. With higher participation, idea sharing also improves.
3. Cost-Effective
There is no need to hire a venue, coupled with other expenses like refreshment and service charges. HOA members only need a smooth and fast internet service wherever they are joining the meeting. With this concept, they can save time and money!
4. Efficient and Productive
No time-wasting, long waiting for other members, and venue preparation is among the other advantages of virtual meetings. In addition, information flow, material sharing, and presentations are more manageable than onsite meetings. With this, the discussion becomes highly productive and efficient.
5. Easy to Record
Many software programs and apps have recording options, which allow users to record meetings. This helps homeowners associations keep records of every meeting they have and allows community members to go back and review any topic at any time.
Conclusion
Undoubtedly virtual HOA management is the future and a great way to relieve some burdens from board members. It makes running an HOA very smooth and effective as you concentrate only on your core duties. Call or email us today for tailor-made services that can help improve your productivity!