How online property management and property management apps benefit condo boards
Every condo owner wants to protect their investment. It's easy enough manage your own unit, but a board of directors is still needed. They ensure all condo owners (and residents) follow the rules. As well as keeping the exterior and common areas of the building are kept in great condition.
With those needs comes a list of responsibilities involving maintenance, finances, and more.
Condo board members are responsible for:
- Tracking required repairs
- Planning upgrades that contribute to the value of the building
- Coordinating tasks - ie. approving budgets.
It’s a full-time job, for a board of directors that volunteer their time.
Considering the responsibilities of condo boards, it's no surprise they're demanding better property management tools. Online property management and property management apps benefit more than just the board. Condo boards look for the best interest of the building. The entire community benefits of having their board equipped with easily accessible information. Condo management software helps them do more in less time!
Here are a few ways that online property management and property management apps benefit condo boards.
Real-Time Access to Information
Solving community problems is one of the responsibilities of the board. And nothing makes this task easier than to have access to information at your fingertips.
With online property management, board members have access to incident reports. Condo management software makes it easy to track details of an incident. At a tap, know if there was police involvement, and determine if there are possible legal issues.
Some incidents are not efficiently or properly reported for whatever reason. Often these incidents and even other various issues pop up on the online condo discussion forum.
The condo discussion forum is a valuable online property management tool. It allows condo boards to keep a pulse on the community. The forums let owners communicate their concerns and suggestions to improve the condo.
Condo boards are responsible for repairs and maintenance of common areas. These common areas can include:
- The building’s exterior
- Tennis court
- & other communal amenities
This protects not only their investments, but also the investment of each condo owner. Condo boards are also responsible for managing operating expenses in general – repairs included. A good property management app allows boards to keep condo maintenance fees low.
The right property management app will help them with all aspects of maintenance.
- Track maintenance repairs and inspections
- Take care of invoices related to those repairs
- Track tasks in case more than one repair is needed
- Repair prioritization
Repair prioritization tasks benefit from online property management communication tools. The board can easily make announcements. Updating property managers, condo owners, and residents, that amenities are closed due to repairs. Or to update them on the status of certain repairs.
Online Property Management Saves Time & Money
Nothing saves condos time and money like automation. And that is exactly what online property management software offers. The automation goes above and beyond communication. Covering announcements and the tracking of maintenance repairs as well.
Online property management software also automates other tasks such as:
- Record keeping
- Approving expenses for repairs based on the budget
- Approving upgrades based on the budget
All of which are easy to share and access with paperless condo software. Going digital makes sharing information easier, faster, and more secure.
Another important benefit of automation is that it facilitates secure communication with other board members in order to organize meetings and meeting agendas.
Finances & Security
Online property management facilitates the management of financial affairs. And that's not limited to tracking and paying for maintenance repairs and upgrades.
The perfect online property management software securely facilitates the handling of purchase orders. It provides tools to setup a list of suppliers, and keep condo boards notified of the status of the order. This is done by tracking the purchase of products and services. - All while allowing condo boards to keep a close eye on their budget.
Another benefit is that it allows condo boards to view and store important documents in a secure location. More importantly, it allows users to set different access levels. This is particularly useful for documents that only members of the board should see.
It’s easy to see how online property management tools and apps work together. Automation saves time and money by organizing information and facilitating action and communication. You can add money saved to the budget for improvements and updates - raising property value. Everyone wins!
Provide Your Condo Board with Efficient Online Property Management Software and a Property Management App
Online Property Management and Property Management Apps benefit the entire condo community by allowing the condo board to do more, with more efficiency. Watch a demo of how condo management software can benefit you, or request a quote today!