TLDR
PayHOA is purpose-built for HOAs and raised a $27.5M Series A in May 2024, so it is not going anywhere. All features are included at every tier starting at $49/mo for up to 25 units (annual billing). The gap is not in what PayHOA charges, but in what it covers: reserve tracking is partial -- through the accounting module with custom chart of accounts -- but there is no dedicated reserve study module, no percent-funded dashboard, and no fund separation enforcement.
Quick Verdict
PayHOA is purpose-built for HOAs and raised a $27.5M Series A in May 2024, so it is not going anywhere. All features are included at every tier starting at $49/mo for up to 25 units (annual billing). The gap is not in what PayHOA charges, but in what it covers: reserve tracking is partial -- through the accounting module with custom chart of accounts -- but there is no dedicated reserve study module, no percent-funded dashboard, and no fund separation enforcement.
| Feature | PayHOA | BoardStack |
|---|---|---|
| Monthly cost | $49/mo (≤25 units) | $20–$99/mo |
| Setup fee | Varies | $0 |
| Reserve fund compliance | No | Built-in, state-specific |
| Fund accounting | No reserve separation | True fund isolation |
| Owner portal | Limited | Full self-service |
| Built for | Professional management | Volunteer boards |
BoardStack offers reserve fund compliance and true fund accounting at $20–$99/mo with zero setup fees, vs. PayHOA at $49/mo (≤25 units).
What PayHOA does well
PayHOA is purpose-built for HOAs — not adapted from rental property management software — which puts it ahead of platforms like Buildium and AppFolio that bolt HOA features onto a rental-first product. PayHOA raised a $27.5M Series A in May 2024, so the company has runway. G2 reviews average 4.6/5 across roughly 75 reviews; Capterra averages approximately 4.5/5 across roughly 70 reviews.
All features are included at every pricing tier. There is no feature gating: a community on the $49/mo plan gets the same capabilities as a larger community paying more. Online dues collection works. The violation tracking module covers the basics. Homeowner portals let residents check their account balance and submit requests without emailing the board directly. The 30-day free trial requires no credit card.
For a small community that mainly needs to collect assessments and manage ARC requests, PayHOA holds up.
Where it runs short for self-managed boards
Self-managed boards carry fiduciary responsibility without professional management staff. That creates compliance risks PayHOA addresses only partially.
Reserve tracking is partial. PayHOA tracks reserves through its accounting module with custom chart of accounts and bank syncing. You can create separate reserve categories and connect bank accounts. But there is no dedicated reserve study module, no percent-funded dashboard, and no fund separation enforcement at the transaction level. The accounting tools tell you what your balance is; they do not tell you whether that balance meets your reserve study targets.
No reserve study integration. Boards that commission a reserve study cannot import component data, remaining useful life estimates, or funding projections into PayHOA. Tracking progress against the study’s recommendations requires a separate spreadsheet.
Bank integration. PayHOA’s bank integration does not cover all financial institutions. Boards that maintain reserve accounts at credit unions or community banks may not be able to pull balances directly into PayHOA, requiring manual entry and creating reconciliation risk.
How BoardStack approaches this
We built BoardStack specifically for self-managed volunteer boards. Reserve fund tracking is a first-class feature: operating and reserve funds are always separate ledgers, reserve study targets are entered once and tracked over time, and every board vote is logged with a timestamp and member record for audit purposes.
BoardStack does not replace a reserve study. It tracks your progress against one.
Who should consider switching
If your board has received a reserve study in the last three years, if your state requires a reserve disclosure at the time of unit sale, or if any board member has asked “are we liable if something goes wrong,” PayHOA is likely not enough. Those questions point to compliance needs that require dedicated reserve tracking.
BoardStack starts at $20/mo for communities up to 50 units.
PROS & CONS
PayHOA
Pros
- Purpose-built for HOAs (not adapted from rental software) with online dues collection and homeowner portals
- All features included at every tier -- no feature gating or upsells
- $27.5M Series A in May 2024 signals long-term viability; G2 4.6/5, Capterra ~4.5/5
Cons
- No dedicated reserve study module -- reserve tracking is partial through accounting only
- No percent-funded dashboard or fund separation enforcement at the transaction level
- Bank integration limited to major banks; credit unions and community banks may require manual reconciliation
Q&A
Does PayHOA have reserve fund tracking?
Partial. PayHOA tracks reserves through its accounting module with custom chart of accounts and bank syncing. It does not have a dedicated reserve study module, a percent-funded dashboard, or fund separation enforcement at the transaction level. Boards in states with mandatory reserve study laws will find accounting-level tracking insufficient for compliance reporting.
Q&A
How does PayHOA pricing compare to BoardStack?
PayHOA starts at $49/mo for up to 25 units (annual billing) with all features included at every tier. At 100 units, effective cost is approximately $1.09/unit/mo. BoardStack charges $20–$99/mo flat by community size with reserve fund compliance tools included. For small communities, PayHOA's pricing is competitive. The difference is in reserve compliance features.
Source: PayHOA pricing page
Frequently asked