Let’s review three useful cases where an association ID can help reduce costs, increase agility and improve compliance in a community…
Improved efficiencies during an escrow close in a Homeowners Association (HOA)
Delays, manual processes, proprietary management contracts are few reasons why escrow costs for HOA documents cost buyers $500-3000 despite great legislatures from CA State Legislature.
All the documents required during a close of a Home in a HOA are public documents(Meeting Minutes, Annual Budget, Reserves Statement, Governing Documents, CCR & Enforcement Docs) when these public documents are stored in a secure repository and made available only to the new buyer via the Title Agency it speeds up closing of a Home.
In a typical community there are 5% of the residents moving out on an average, so when these solutions are automated it reduces management burden, saves money to the new resident and improves speed in which homes are closed in a HOA.
If the same documents are sent to most of the new residents via Title companies – Why not automate the process and reduce costs?
HOA inspections when done consistently help with increased compliance and curb appeal. Below are the top inspection issues most communities deal with:
Aesthetics – Storage of trash cans in visible areas of the community
Lack of Maintenance – Shutter paint, home paint, and the landscape not being maintained properly
When the top 3 issues of a community are summarized (without identifying individual homes), it inspires trust among residents that enforcement documents are applied consistently within the whole community.
Automation with Modern Tools
Residents in a HOA can benefit with Opt-In communications to make sure they get HOA Disclosures / Statements via – Email / SMS / Push Notifications saves thousands of dollars for residents.
When tools like Email, SMS, Digital Signature, Online Payments, Surveys, Online Storage, Broadcast Voice messages are offered to residents it helps reduce costs significantly, there by enabling associations to move those budgets to reserve repairs and improve curb appeal and much needed maintenance in aging communities.
Association ID along with Open Source Software can help save costs, increase agility and improve home owner participation when done right…
What top issues in your community you would like to address?