Inc. Magazine Recognizes PayHOA’s Exceptional Revenue Growth

PayHOA’s commitment to making HOA management easy for volunteer board members has been recognized by our customers, and now we’re being recognized with an award from Inc. Magazine.

PayHOA ranked No. 60 on the third annual Inc. 5000 Regionals: Southeast list. Released in March, the list tracks the fastest-growing companies in the Southeastern United States.

From 2019 to 2021, private companies on the list combined to achieve a median revenue growth rate of 174 percent while adding 25,844 jobs.

During the same time period, PayHOA’s revenue growth rate was 340 percent. The award endorses our creative and innovative staff’s commitment to constantly looking for new and better ways to serve our customers.

PayHOA is based in Lexington, Kentucky. We competed against companies in our home state as well as those based in Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, Puerto Rico, South Carolina, and Tennessee.

To qualify for the 2023 Inc. 5000 Regionals, companies must have been founded and generating revenue by March 31, 2019. Companies had to be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2021. For 2019, the minimum revenue was $100,000. The number was $1 million in 2021.

Inc. Magazine provides entrepreneurs with the knowledge, tools, and connections needed to build great companies. Its award-winning content reaches more than 50 million people each month across multiple channels:

• websites
• newsletters
• social media
• podcasts
• print

Earning a spot on the list is especially exciting because PayHOA was founded in 2018. It means our approach to HOA management fills an important role for our clients.

Through PayHOA’s owner portal homeowners and condo owners can make online payments, view payment history, import documents, submit requests, and update contact information. We make managing an HOA easy, and it leads to happier homeowners that have better visibility and fewer barriers to paying their dues.

The Inc. Magazine award is a testament to our advanced HOA management platform and the excellent customer service that comes with it.

Finance & management

If you’re using electronic or paper spreadsheets for HOA management, there is an easier way. With PayHOA, no accounting background is necessary.

Our platform makes it simple to sync your ledger to more than 15,000 financial institutions, so the days of double entry are over. You’re able to generate real-time accounting reports and share them with board members and stakeholders. Our HOA management software comes with 30+ reports and gives you the ability to create others as needed.

 Budgeting is a breeze. You can customize charts of accounts for your community. Data can be copied from one period and added to another. If you use our charts and reports, your budget process will benefit from including actual data.

When it comes to collecting dues, PayHA supports ACH and all major credit cards. Payments are Level 1 PCI compliant and go directly to your HOA’s bank account. To further reduce the potential for stress points, owners can enroll in auto-pay, so you don’t have to worry about late payments.

Tags and custom fields allow for quick searches, and our software requires only one password to keep track of:

• important documents
• maintenance history
• communications
• payment history

In addition, owners have 24/7 access to their account histories thanks to PayHOA’s online portal.

Communication

For large organizations to run well, communication is crucial, and PayHOA makes it easy to broadcast text messages to all or a selected group of homeowners. You can share attachments through mass emails, and custom phone calls can be sent on-demand or scheduled for specific days and times.

All messages are aggregated into a single database, so you have an ongoing log of homeowners’ communications.

PayHOA is a digital service, but it also allows you to send physical mailers and invoices via the United States Postal Service. Our software lets you:

• Handle your printing, stuffing, and mailing.
• Upload custom PDFs and mail them with the click of a button.
• Send professional invoices with return envelopes and perforated payment slips.
• View the status of each mailed item. 

When you need feedback from your homeowners, you can create surveys using multiple-choice or essay questions, and the results can be viewed as a percentage or details can be provided for each question.

Results can be anonymous or logged for each homeowner. During the COVID-19 pandemic, the survey feature allowed communities to hold elections without having to gather in one place.

Election time is one of many important dates that you can include on a shared calendar of community events. It’s easy to create events and invite all or selected homeowners to take part. You can sync a Google Calendar to automatically pull events into PayHOA.

You also can encourage community engagement with a private message board. Board members and volunteers can manage the board, and automatic messages can be sent out whenever you publish new bulletins. The HOA management team controls who can reply, post, and comment for each board and thread.

Documents & requests

Forget about the copy machine. With PayHOA, all documents can be digitized and then organized in files and folders. You decide how those files are shared and with whom.

Homeowner requests can be automatically forwarded to the appropriate people. Each request creates a ticket with threaded communication, so the entire process is documented. Tickets can include:

• images
• texts
• attachments

Violations are an unhappy fact of HOA management, but PayHOA makes them as hassle-free as possible. Volunteers can create violation tickets from their desktops, tablets, or phones.

PayHOA automatically notifies homeowners of violations with emails, and paper copies can be sent with the click of a button. A record of all correspondence will be saved and easily searchable.

Additional benefits

Our platform can give your community a marketing boost. PayHOA helps you build a custom website with a drag-and-drop process. We provide the starting template and web hosting, and the domain belongs to you. In addition, you can link directly back to PayHOA for payments, document storage, and password-protected data.

To further streamline your work, our Lockbox service means you don’t have to touch paper checks. They are routed to our processing centers where they are deposited electronically. Payments sync to your ledger and integrate seamlessly with your accounting system.

Not resting on our laurels

We’re proud of our platform and our company, and the recognition from Inc. Magazine tells us that our customers appreciate the valuable time-saving services we provide.

But PayHOA wasn’t founded to be a status-quo company. We are a dedicated team of innovators, and we believe in striving for constant improvement. 

Going forward, we will continue asking questions and investigating new ideas, trying to dream up new ways to make effective HOA management as easy and stress-free as possible for our growing list of customers.

Along the way, we’ll stay true to our guiding principles:

• Keeping it simple—our software shouldn’t require a manual.
• Fair pricing—you’ll never get hidden fees.
• Customer support—when you need help, our professionals in the U.S. will be only an email away.    

PayHOA offers an HOA management software solution for HOAs of any size or managerial priorities. To find out if PayHOA fits all your HOA management needs, try our software free for 30 days.