HOAleader.com - Tip of the Week - July 7, 2017
Published: Fri, 07/07/17
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HOA Software: Opting for an Off the Shelf or Customized Program
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Been looking for software that’ll help you manage your HOA operations more efficiently?
It’s not easy to sift through all your options, right?
In this weeks’ tip, we offer up some tips from current users and industry experts.
Some of our readers say off-the-shelf products suit their purposes. “We use QuickBooks Pro, set up so each unit is a customer and each owner is a job, which allows us to track new owners and to easily issue monthly statements,” reports Victoria Kingwell of the self-managed Colonial Woods Condominium in Yaphank, N.Y.
“The software can create any report my board asks for quickly and easily, and it interfaces directly with Outlook,” adds Kingwell. “QuickBooks can also be set up to automate transactions, so monthly common charges have to be entered only once a year when the rates change. We use Microsoft Access for work orders for any maintenance requests. I’m a professional bookkeeper, and I find this very easy to use.”
A community association manager is on the same page. Steven J. Weil, Ph.D., president of Royale Management Services in Fort Lauderdale, Fla., which manages 28 condos and HOAs, uses QuickBooks Enterprise. “It’s readily available, and most of the world knows how to work it, so it makes it easy to hire people,” says Weil. “It can be easily customized, and if an association needed to run it itself, it’s easy to manage.
“There’s also only a one-time cost—you’re paying for upgrades, but you’re not paying for an annual subscription,” adds Weil. “The bad news is that it does 10,000 things, and most users need to know how to do 10. But once someone shows you who to do the 10 things you need to know, you don’t have to worry about the other things.”
Others are using more customized programs. Read about just one of them, and get information on the pitfalls to avoid in our latest article—the first in a two-part series:
https://www.hoaleader.com/members/2572.cfm
Best regards,
Matt Humphrey
President
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Upcoming Event
Collect More, and Collect It More Easily:
Best Practices for Condo/HOA Debt Collection
An Exclusive HOAleader.com Webinar
With Practical Tips for Condo and HOA Boards
Thursday, July 27, 2017
2:00 p.m. Eastern
Learn more or register now:
https://www.hoaleader.com/products/best-practices-condo-hoa-debt-collection-a.cfm
Members save $30!
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Recent articles posted at HOAleader.com:
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HOA Software: Opting for an Off the Shelf or Customized Program
Been looking for software that'll help you manage your HOA operations more efficiently? It's not easy to sift through all your options, right? In this weeks' tip, we offer up some tips from current users and industry experts.
Click here to read full article:
https://www.hoaleader.com/public/HOA-Software-Opting-for-Off-Shelf-or-Customized-Program.cfm
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What You Need to Know About HOA-Specific Software: Part 1
This is the first in a two-part series on software that can help you manage your HOA more efficiently. In this article, we discuss the programs some people are using and the challenges of finding the right program for your community.
Click here to read full article:
https://www.hoaleader.com/members/What-You-Need-Know-About-HOA-Specific-Software-Part-1.cfm
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Hoping for an HOA Growth Spurt? Here's What to Know
In this week's tip, we expand on the idea of expansion in response to a reader's question. An HOAleader.com reader writes that his HOA wants to add new units, and the reader has questions about financing the deal and charging the developer.
Click here to read full article:
https://www.hoaleader.com/public/Hoping-for-HOA-Growth-Spurt-Heres-What-Know.cfm
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Here's What It Would Take to Expand Your HOA
An HOAleader.com reader writes, "We want to add new condo units using some unused land. Has anyone ever done that? What types of financial arrangements should we make with the developer? Can we charge the developer a fee for development rights? Where would I find information on how to go about setting this up (legal contracts, etc.)?" (You can see the original post on the HOAleader.com Discussion Forum here.)
Click here to read full article:
https://www.hoaleader.com/members/Heres-What-It-Would-Take-Expand-Your-HOA.cfm
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Collect More, and Collect It More Easily: Best Practices for Condo/HOA Debt Collection
Tired of seeing delinquent accounts on the financial statements of your condo or HOA? Frustrated because subpar finances mean long-planned projects are on hold indefinitely? Less than thrilled about continually explaining the situation to the homeowners in your association? Stop letting nonpaying owners control your condo or homeowners association! Join us on June 27 for an in-depth webinar led by two HOA debt-collection experts.
Click here to read full article:
https://www.hoaleader.com/products/best-practices-condo-hoa-debt-collection-a.cfm
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