Revolutionizing HOA Management: Changemakers on the Horizon

By Kelly Zibell

Community Associations play a crucial role in maintaining community harmony and property values. In the past, HOA management involved intricate paperwork, face-to-face meetings, and manual administrative tasks. Due in large part to the recent pandemic, the industry is experiencing a rapid paradigm shift. This article explores the evolving landscape of HOA management and new tools available to streamline processes and enhance efficiency.

THE ROLE OF AI IN HOA MANAGEMENT

In case you were not watching the news in late 2021, Microsoft, Google, and other providers rolled out the first largely available AI tools. This set off a race between technology providers to add artificial intelligence tools to their products or tout the tools that already include this technology. In community association management, AI is revolutionizing the industry by streamlining administrative tasks, enhancing decision-making processes, and providing predictive analytics for financial or maintenance planning.

Some areas where AI is currently being used include:

Efficient Maintenance Scheduling: AI algorithms can predict and schedule maintenance tasks, reducing downtime and improving overall property conditions.

Reduction in Workload for Managers: Automation of routine tasks, such as simple email responses or financial transactions, allows managers or staff to focus on strategic planning and community engagement. AI tools also exist in remote meeting tools, helping those responsible for taking meeting minutes to get a jump on capturing votes and important action items.

Improved Communication with Residents: AI-powered communication platforms ensure timely and relevant information reaches residents, and this fosters a sense of community. New chat bots are available to assist residents with answering simple questions, cutting down on staff time needed to respond. At one management company, its chat bot dealt with an average of 1,000 responses per month. Imagine how much work that saves their customer service team!

WORKFLOWS AND AUTOMATION

Streamlining work processes and workflows for efficiency is crucial. Managers and other staff have reported an increased volume of requests via email, in-app, text messages, and phone. Take the time to review current work processes to determine which portions of those processes can be automated to eliminate staff work wherever possible. Many management offices have become decentralized and staff work remotely at least part of the time. Several management software tools have the ability to automate certain tasks or create workflows directly within the software. By automating tasks, such as financial tasks or some communications, workloads are significantly reduced and client response times can be improved.

REMOTE STAFFING AND OUTSOURCING

In our post-pandemic world, many management companies and business partners have adapted their practices to focus on a more hybrid approach to working remotely versus fully in-office. Changing to this new approach has provided several benefits for firms.

Cost Savings: Fewer people in the office means less office space needed and thus less office-related costs.

More Talent Options: Companies are getting access to a broader talent pool because they can find skilled professionals who are based in other geographic locations. Several companies have recently adopted a global view to their workforce, bringing in professionals from other countries to support US-based companies and reduce workload of existing employees.

Increased Flexibility: As younger professionals transition into the workforce, they expect to work flexibly, blending their job and home life together in a way that benefits them. Continuing to adapt practices to promote opportunities for flexible work schedules or remote schedules will attract new professionals to our industry and help keep them here.

Adopting a remote or partial remote workforce is not without its challenges. Companies must focus on employing technologies that facilitate effective communication between employees and clients. Additionally, processes and systems should be put in place to ensure progress on important activities and accountability for getting work done. Finally, companies must implement robust measures to protect against data leaks and stolen sensitive client information.

TRENDS ON THE HORIZON

Where will the industry go next? A few years back, we could not have predicted that our industry would move forward with virtual meetings and other opportunities in the way that it has post-pandemic. Some areas of opportunity we see on the horizon are:

Internet of Things (IoT) for Property Monitoring – There’s an opportunity for real-time monitoring of property conditions for proactive issue resolution. Imagine if a manager knew of an issue on a property before they were notified by residents. Then, imagine if the AI the company had in place could respond and issue a work order to a vendor without a customer service team member having to do it. In recent years, technology has been formed around high-rise unit leak detection along with license plate readers that integrate and are used by police departments and cities. We fully expect that these and other products will continue to be adapted to further uses.

Virtual Reality – Realtors^® have already started using virtual reality to conduct property tours, showcase common areas, and display properties under construction. With continued investment expected on the horizon, look for this technology to grow in the HOA space.

While our industry isn’t known for its speed in adopting new technologies or processes, significant progress has been made over the last few years. As investment continues to occur by software and other technology companies, it will be important for companies and HOAs to stay abreast of what’s available to them and what may be useful to remain competitive and efficient in the future. While embracing change can be difficult and hard to do, the bright future we see in terms of technology options for managers and companies ensures a more efficient, responsive, and vibrant workforce for our communities and the residents they serve.