How Can Technology Help You Modernize Your HOA Management?
Technology has transformed virtually every industry over the past two decades, and the pandemic only further accelerated tech adoption. This rapid acceleration set apart modern, adaptable companies from slower, outdated ones and highlighted the wide gap between the two.
With more and more Tacoma, WA, homeowners relying on technology to get things done, many HOAs are opting to modernize operations to get ahead of the competition and provide a better experience for members. Technology enables HOA boards to perform better community management and streamline processes, boosting resident satisfaction. Here’s how technology can help you modernize your HOA management if you’re seeking to do so.
HOA Management and Technology
In today’s world, HOAs are facing numerous challenges in managing their communities, from financial and administrative duties to operational dilemmas. Consequently, HOAs are needing to think about how to enhance existing processes with the help of technology to keep up with the demands of modern life.
According to a recent survey of HOA management professionals, 49.2 percent of communities have been using their current technology for three or more years. While this may not sound like a long time, three years can mean the difference between contact submission forms with a 48-hour email response and real-time text-based communication. This is a difference that residents clearly notice since 28.6 percent of members report feeling neutral or dissatisfied with their HOA’s current technology solutions.
With the emergence of more sophisticated digital and cloud-based technologies, there are many ways to effectively modernize HOA management. However, HOA boards first need to analyze the biggest challenges they face to implement solutions that tackle them productively and efficiently.
Challenges HOA Boards Face
According to the same survey mentioned above, the three biggest challenges facing HOA boards are communication (21 percent), meeting customers’ needs and expectations (17 percent), and manual/outdated processes (15.8 percent). In fact, 50 percent of all homeowners surveyed reported that they found their HOA boards to be unresponsive.
These primary challenges are all exacerbated by the same common cause: outdated technology and inefficient workflow. It’s imperative that HOA management addresses these concerns, and implementing new technological solutions is a relatively easy and cost-effective way to do so.
Technological Solutions for Future Community Management Services
Most HOAs are aware of their communication flaws and struggles with outdated technology, especially as the pandemic has further highlighted these problems. That’s likely why 83.6 percent of community associations plan to utilize new technology within the next year.
If you’re one of the HOAs planning to improve their technology, there are several key solutions that are most effective in improving community communications. Community websites that are updated and user-friendly can keep residents updated on all the latest neighborhood happenings, creating transparency and acting as the first line of defense against any resident questions. Member portals are also hugely beneficial, allowing residents to log into personal accounts and handle administrative tasks such as paying dues, updating contact info, reviewing a work order status, or submitting questions to their HOA management.
SMS communications solutions further elevate community management services by enabling 24/7 communication with residents. Smart text-messaging helpers such as The Management Trust’s Trusty provide a convenient way to get answers to basic homeowners association inquiries. With Trusty, residents can receive community notices, manage payments, submit maintenance requests and more right from their phone at any time or day of the week.
If your HOA feels overwhelmed or outdated and wants to make their HOA living easier, professional community management services can be a lifesaver. In addition to equipping your community association with all of the digital tools it needs to succeed, we’ll also help run the day-to-day operations of your HOA, so your board has more free time to focus on the bigger picture.
If your community association could benefit from a professional HOA management company, call The Management Trust at 253-472-0825 or fill out our online contact form today. We’ve been one of the nation’s leading HOA management firms for more than 30 years, and we’d love to help your Tacoma, WA, community thrive as well.
