The Property Owner Association Application enables you to efficiently manage condominiums

Managing Property owner associations can be complex and challenging from Communication to owners, Documentation, Managing Maintenance requests from the property owner/ tenants and financial management.

Let’s check out the business process and features of the Odoo 18 Property owner Association Application.

First of all, when you get a request from condominiums to get the offers and services, it is simple to create a quick Quotation in the sales application. Easy to find the templates and can be created by offering your pricing and additional services like recurring fees, hourly rate and more. Here you will get an option to build the multiple templates according to your business needs.

Refer the below Image:

Below is the Sample of the quotation that shows how you can add your services and pricing. It can be covered the recurring fees as well.

Application(POA) allows you to create a condominium in the system where it will be treated as a company that is funded by owners or investors and that has to pay the operating cost.

Once the Condominium is created it will be visible in the condominium application. Where easily information can be added. Even further you can add the buildings and property to each condominium.

Below image shows the condominiums overview.

For the next information adding, Create the buildings that compound the condominium.
Create the properties that compound the buildings: apartment, studio, flat, penthouse, garage, etc.

Each property is fully customizable with the following details:

Name: Identify the Property, Add the information related to Property
Building: Easy to link the buildings to property
Type: Classification of the Property helps you to organize
Owner: Assign the ownership of the property 
Tenant: Include tenant information, in some cases it is applicable
Tags: adding Tags to filter the data
Parent Property: Link related properties, such as garage would be linked to the apartment
Floor: Specify the property’s floor location.
Area: Define the property’s size

Additionally, you can define the distribution keys per property and that will help to assign a ratio for each property. It will be used to break the fees per owner and for separating the costs.

Fairly Split the Costs:

Each owner is responsible for paying recurring fees, which include:

• The working fund: This covers regular expenses such as utilities (water, electricity, gas), insurance, maintenance, repairs, and cleaning of common areas.
• The reserve fund: A savings account designated for exceptional costs, such as major repairs or investments in new equipment.
• Condominium management services: Fees for the services provided by the property management company.

Manage the Numbers Efficiently

A condominium operates similarly to a business, with revenue coming from the owners. These funds are collected into two separate bank accounts, which can be directly integrated with the banking system:

• Working Fund: Used to cover recurring expenses.
• Reserve Fund: Used to cover exceptional expenses, such as major repairs or investments.

Vendor bills can be uploaded and automatically populated using Artificial Intelligence. Once a bill is recorded, the "Distribute Cost" button allows you to automatically allocate the expense to each property based on the distribution key.

At the end of the period, you can quickly generate essential legal reports, such as the Balance Sheet and Profit & Loss Statement for each condominium.

For scheduling the meeting with Owners to talk about the financial discussion, It can be scheduled easily from the Calendar application in Odoo. Where you can create a new meeting by adding the attendees and condominium name.

As shown in below image

Provide the best customer services by Helpdesk application

Owners and tenants may encounter issues in their day-to-day activities. To streamline the maintenance request and other problems, the Helpdesk Application can be used. This allows each member to send an email, which directly creates a new support ticket to a specific helpdesk team. The system allows you to track the invoicing for the time spent if it is not covered in the support contract.

The Odoo Property Owner Association Application provides a comprehensive solution to efficiently manage condominiums with providing the ease of operations and ensuring smooth operations and clarity for the communication. To start with Quotes builder for your services & pricing Structure to give quick response to the customer with different services offerings. Aditionally Project Management helps to streamline the process by automating the workflows, Furthermore Communication between the Owner and tenants would be very quick by unabling the support team. Lastly, the financial part can be managed through the accounting application where they can easily share the details with owners for each Condominiums.