Still accepting checks to fund your HOA community? It’s time to move on from this age-old practice and embrace online payment options with open arms.
From daily grocery shopping and monthly bills to big purchases such as vehicles, online payments have taken over the payment arena for real.
Therefore, it only makes sense for your HOA community to bid goodbye to regular paper checks and say hello to electronic transactions via HOA software.
Why Switch to Online Payment Modes through HOA Software?
Online payments are convenient for both recipient and payor, with multiple benefits to paying HOA dues and condo fees online. Homeowners associations collect thousands of dollars in HOA dues and condo fees from homeowners, and online payments offer multiple benefits.
Online payments make dues management far easier for associations. Furthermore, homeowners can use HOA software to pay their dues via their credit cards, debit cards, or electronic funds transfer.
What are the Advantages of Collecting HOA Dues Online?
A homeowners association requires regular funding in the form of HOA dues for community upkeep. As a result, more and more HOA communities are switching to using HOA software to manage monthly due collections and ensure timely resident payments.
Not only will online payments decrease your monthly expenditures for paper, pens, and postage, but they also allow you to spend the money you save to enhance other aspects of your community.
Furthermore, online payments via HOA software provide residents with multiple payments options, including credit cards, electronic checks, and debit cards. They’re a great way to manage residents’ payments and limit the time you spend to track delinquent homeowners.
Online payments also offer efficient accounting management. Administrators and board members can receive, track, and process payments instantaneously, and automatically maintain a transaction record. This smooth online transaction process eliminates the headaches of dealing with lost checks and bank deposits.
Lastly, online payments save trees and help the environment. Nearly 50% of paper waste generation comes from businesses, so if you switch to online transactions to collect your monthly HOA dues, you’d not only be able to help grow your community but also benefit the environment.
To convince you further of the values of online payments to collect HOA dues through HOA online payment software, consider these additional benefits.
● Timely HOA Payments
With HOA payment software like HOA Start, you provide easy-to-use payment options for homeowners, which helps promote timely payments. This software also allows homeowners to use their credit cards, debit cards, etc., to manage their monthly HOA dues.
● Less Administrative Work
HOA Start enables you to create an online payment system that works best for your community and your residents. You can customize the schedules for the HOA dues, and process received payments much more quickly. Say goodbye to long lines at the bank and manage all your HOA payment details directly from your desk.
● Easy Record Maintenance
Because residents will make their financial payments online through the HOA software, administrators and board members can maintain a record of financial transactions. Both homeowners and board members can check payment details at a glance on an easy-to-use dashboard, which helps make your payment system more transparent.
● No More Paper Records
When you switch to online payments through HOA Start, you make a significant reduction in your expenses for office supplies and paper record maintenance. Furthermore, your board will save up a considerable amount of time on payment documentation, and you’ll need fewer resources—and fewer people—to manage your resources.
● Homeowner Convenience
Overdue HOA payments are difficult for homeowners to track manually. The intuitive experience of the HOA Start user dashboard not only enables them to manage their payments but also cuts down on the time and effort required to make timely payments. (What a relief.)
Are you ready to switch to an easier, more-efficient, greener system through HOA payment software? Then sign up with HOA Start today to begin your electronic payment journey.
