Processing community assessment payments is a critical offering of community management companies, especially when it comes to establishing homeowner trust. Community members have to be sure the company they’re working with is able to handle their money in a secure and convenient way when they pay online, check a balance or set up an automatic payment.
How do management companies process HOA payments online?
When property owners and homeowners have to pay assessments, what payment method do they use? For companies that have adopted the FRONTSTEPS payment portal, these community members gain a secure, simple, efficient and mobile-accessible way to make online payments.
The backend of this system allows management companies to integrate smoothly with banks, auto-grouping payments for batch reconciliation and providing an accurate ledger updated in real time.
What’s the value of digital HOA payment processing?
The true value of the FRONTSTEPS payment solution comes from the fact that it helps both management companies and homeowners. These wide-ranging advantages represent convenience on two fronts, and they break down as follows:
- Management companies gain the peace of mind that comes from built-in security features, as well as ease of use due to capabilities such as auto-grouping and reconciliation of payments. Greater ease of use for homeowners also gives employees back time in their day, as they don’t have to provide hands-on help.
- Homeowners can take advantage of a mobile-compatible, efficient platform that allows them to pay assessments from anywhere and offers real-time updates on online payment status, as well as a seamless interface for greater certainty and comfort.
Features of FRONTSTEPS’ payment processing solution
Security
- Reduce the need to deal directly with bank account data and other personally identifiable information, lessening security risk.
Visibility
- See, filter and sort all payments and check online payment history across every community overseen by the management company.
User Accessibility
- Simplify the payment process for homeowners, increasing satisfaction and uptake and reducing the need to provide help.
- Allow mobile payments, ensuring homeowners can complete the process without using a PC.
- Enable flexible balance payment, allowing homeowners to schedule out charges that add up to their full balances.
- Provide support to homeowners via the dedicated FRONTSTEPS support team — these personnel can see homeowners’ account ledgers and payment history to answer in-depth questions.
- Enable guest online payments, made without logging in to an account.
Recurring Payment
- View each recurring payment a homeowner is responsible for and cancel an automatic payment when needed.
- Automatically cancel recurring payment responsibilities on move-out, ensuring former homeowners aren’t charged unnecessarily.
Payments as part of a unified HOA management platform
Payment processing is just one part of the comprehensive FRONTSTEPS HOA management platform. Implementing these purpose-built community management technology tools across all aspects of a management company’s operations enables smooth, tech-powered solutions that benefit board members, community managers and homeowners alike.
The suite includes:
To see how these applications can help your management company thrive and find the best combination for your needs, you can schedule a demo with FRONTSTEPS experts.