Why You Should Be Offering Online Assessment Payments

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Let’s lay it out on the table: nowadays, we’re all busy. Whether it’s rushing the kids off to school before a long commute to work or sprinting between college classes, everyone has always got something that they need to be doing right now. Today’s homeowners are desperate for tools that allow them to handle responsibilities practically and quickly– and on their terms.

Enter online payments. They’re why eCommerce has become an industry of its own; they’re the reason that food delivery services manage to dominate the mobile app game; they’re easy to make, easy to understand, and a cinch to use. Many people go as far as automating recurring payments like bills each month in order to make their lives simpler.

Many community associations across the nation have failed to recognize the need to offer homeowners online payment options. Online payment processing services are easy to implement and make for happier homeowners– there’s no reason not to offer them.

Some HOAs fear dealing with shady banks, additional fees, and keeping track of payment reports; these issues are easily avoided. Partnering with a transparent bank who offers upfront information about their fees is a great place to start. You may need to do some office shuffling to accommodate new varieties of paperwork, but it’s well worth the payoff of happier homeowners and lower delinquency rates.

The Benefits of Offering Online HOA Payments

Lower delinquency rates

Humans are wired to take the path of least resistance. The easier you make it for homeowners to pay their dues, the more likely they’ll be to actually do it. You can anticipate delinquency rates dropping once you implement an online payment processing system.

Think of it this way: if you had to choose which bill to pay first, which would you choose? The one that took less than a minute to send off online? Or the paper bill that came in the mail? Nobody wants to go through the hassle of writing out a check and dropping it in the mail– and chances are plenty of your members actively avoid handling the responsibility.

Homeowners expect it

We already mentioned it above– people are busy, and they’re used to having things made easier for them. It’s practically a guarantee that your members expect you to offer online payment processing services. Checks are antiquated and most paper mail gets lost in the shuffle of junk and meaningless advertisements.

If you can’t beat them, join them. Implementing the option to make payments online will keep homeowners satisfied and falls in line with their basic expectations.

No more wasting time processing checks

The benefits of online payment processing aren’t all about homeowners; your board treasurer will have a lot less hassle to worry about once you relinquish the responsibility of handling payments. There’s no need to waste time in a paper shuffle that shouldn’t exist in the first place. Save yourself the struggle of sorting out mail, logging payment information, and running to the bank.