The vicious cycle of maintenance calculation, payment dues, reminders and door-to-door maintenance collections kept most of the apartment management associations on their toes a few years back.
Keeping a track of the defaulters, reminding the defaulters to pay the maintenance and then finally collecting the same made the already difficult job of managing an apartment even tougher for the apartment associations. Also, since there was no way of ensuring whether a resident has read a maintenance fee reminder notice posted on the apartment notice board, the only way out for the RWA (Resident Welfare Association) was to reach out to residents and collect maintenance on a door-to-door basis. This was a highly painful and a time consuming process. In addition, one had to depend excessively on manpower for this activity, which increased the costs as well.
Thanks to technology, long gone are the days when apartment management associations were reaching out to residents on a one-to-one basis to collect maintenance. Management associations now use sophisticated apartment management software to simplify their maintenance collection process to an extent of a single mouse click!
One of the misconceptions that most of the apartment management associations had was about apartment management software being very costly. This misconception was cleared, when a lot of apartments started using ApnaComplex, a cost-effective subscription-based leading apartment management software with zero hardware costs and an ongoing support. The cost of the software is directly proportional to the number of units an apartment has, making it more economical than ever for the apartment management associations.
How apartment management software helps the management associations in timely collections?
Timely reminder for payments – The apartment management software instead of sending reminders to each and every resident one by one, empowers the management association to now send automatic reminders to all residents at one go via email/SMS. Residents don’t mean to default on maintenance payments, it’s their hectic schedules and absence of a mechanism to remind them in a timely manner that makes them miss out on submitting the maintenance charges on time. A reminder system reduces the default rate up to a great extent.
Ease of paying maintenance charges – The software comes with a payment gateway that empowers the residents to make their payments online and directly crediting the amount to society’s bank account. The payment can be made via credit/debit card or net banking as per resident’s convenience. This eases the residents from the whole ordeal of coming to the society office just to drop a cheque or pay in cash and in the same time saves the management association from the entire reconciliation effort.
Reduces manpower costs– The software automates the entire process of collections and reduces the requirement of any manpower for collections. The notices/reminders are sent in a timely and periodic manner to the residents and there is absolutely no requirement for a person to conduct door-to-door collections or inform residents about payment defaults.
Filter the list of defaulters – The apartment management software enables the management association to filter the list of defaulters. The entire process gets automated and a list of residents whose maintenance payments are due can be easily drawn out along with the penalty to be charged from them. This helps the management association to identify the exact number of defaulters to be contacted. Emails/SMS to be sent out to defaulters is also automated through this software reducing the manual work up to a great extent.
Meets expectations of both apartment management association and residents – A lot of times a warning message posted on the apartment notice board about maintenance default provokes residents to get into a verbal spat with the management associations. A timely reminder via SMS/email can cause lesser disputes, higher collections for management associations and lesser defaults on behalf of residents ensuring their harmonious living in the apartment.
Sun City Apartment Owners Association (SAOA) managing an apartment of 1200+ apartment units revealed that using ApnaComplex, a cost-effective subscription based apartment management software has led to a quicker collection cycle and much lesser defaulters in their apartment. It has enabled online payments with about 55% payments now happening online reducing the manual effort of reconciliation up to a great extent. The association now has a much clearer view on individual resident account and collection of long pending dues has been possible only because of ApnaComplex.
Maintaining a full-time staff or volunteers who lack expertise/time while dealing with maintenance collections or collecting default payments can become a very expensive as well as tiresome process. Use apartment management software to relieve your association from the painful process of door-to door maintenance collections today!
Log onto www.apnacomplex.com for more information