Article - Monetizing Your HOA Website
Boards of Directors and managers regrettably tend to view HOA websites as an expense, rather than seeing the potential for making them self sustaining or even a profit center.
REDUCING HARD COPY PRINTING & MAILING COSTS
Using the web to deliver information to residents can save an HOA significant money in the costs of printing or reproduction and mailing. The larger the community and membership, the easier it is to recover your web costs through this method. Newsletters can be digitized, and legal documents required to be distributed can be digitally disseminated (check the laws of your state first).
This step alone can offset the costs of your HOA website.
ADVERTISING LOCAL BUSINESSES
While planned communities have almost universally rejected gaudy, commercialized banner ads on their websites, there are other more tasteful options for promoting local businesses in exchange for advertising revenue. Articles promoting a business from a human interest angle is one option. A more steady option is included in InstaPage and often overlooked: the Vendor Directory. For a reasonable annual fee with some minimal sales effort you can sell space in the directory to local businesses. This can easily turn your HOA website into an actual profit center.
Management firms tend to look on the idea of HOA website reseller programs as not worth their time, yet the InstaPage Management Partners Program has projected profits for some medium sized management firms in the $40,000/year range (actual projections for a Utah management firm). And unlike other HOA website companies, the InstaPage system gives 100% control over website creation, management, or removal to the management firm with technical support packaged in, as well as branding opportunities. Additionally, InstaPage is integrated with the VMS Property Management Software and Paylease online payment processing systems. Contact firstname.lastname@example.org for more information.
In conclusion, we encourage all HOA's and managers to adjust their outlook on HOA websites to see the true opportunity to make them self-sustaining or profitable.