ResLife Finances vs HOAfy

ResLife Finances9.0Visit HOAfy8.8Visit

Higher score ResLife Finances #2 in HOA Accounting Software 9.0/10 Free plan Free plan✓ 6 of 6 features Try ResLife Finances

vs

HOAfy #4 in HOA Accounting Software 8.8/10 30-day trial Free trial✓ 0 of 6 features Visit HOAfy

• ResLife Finances fits best

  Associations prioritizing low-cost accounting

• HOAfy fits best

  Associations wanting broad management at a low price

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Side by side

Feature	ResLife Finances 9.0/10 Visit ↗	HOAfy 8.8/10 Visit ↗
At a glance
Editor score	9.0	8.8
Ranking	#2 in HOA Accounting Software	#4 in HOA Accounting Software
Best for	Associations prioritizing low-cost accounting	Associations wanting broad management at a low price
Pricing model	Free plan + paid	Paid
Starting price	$1/unit/mo	$36/mo
Free plan	✓ (best)	—
Free trial	—	30 days
Deployment	Cloud	Cloud
Platforms	Web	Web
Built for	Solo, Small business, Mid-market, Enterprise	Solo, Small business, Mid-market
Features ResLife Finances 6/6 · HOAfy 0/6
Assessment billing	✓ (best)	Not checked yet
Owner ledgers	✓ (best)	Not checked yet
Vendor payments	✓ (best)	Not checked yet
Financial statements	✓ (best)	Not checked yet
Bank reconciliation	✓ (best)	Not checked yet
Budget tracking	✓ (best)	Not checked yet
Our review
Pros	Free operations tier includes requests, budgets, rules and a resident portal Paid plans cover assessments, receivables, payables, reconciliation and reporting Plaid and Stripe support banking, statement imports and payment processing	Double-entry accounting, fund accounting, budgeting, and bank reconciliation Owner portal with payments, balances, requests, and document access Work orders, violations, communications, documents, and website tools included
Cons	The Free plan does not include full association accounting The product is available on the web platform only White labeling, custom workflows and uptime SLA require Enterprise	The $36/month price uses annual billing and varies by community size No free plan is available Access is provided through the web platform
Our verdict	ResLife Finances is HOA accounting software for self-managed boards and professional community-association management firms. It brings together general-ledger accounting, assessment billing, collections, accounts payable, vendor payments,… Read the review →	HOAfy brings accounting, payments, operations, communications, and resident access into one web-based platform. It is designed for self-managed associations, volunteer boards, and community management companies that want more than general… Read the review →

Strengths and trade-offs

• ResLife Finances — where it wins

  • Free operations tier includes requests, budgets, rules and a resident portal
  • Paid plans cover assessments, receivables, payables, reconciliation and reporting
  • Plaid and Stripe support banking, statement imports and payment processing

  Where it doesn't

  • The Free plan does not include full association accounting
  • The product is available on the web platform only
  • White labeling, custom workflows and uptime SLA require Enterprise

• HOAfy — where it wins

  • Double-entry accounting, fund accounting, budgeting, and bank reconciliation
  • Owner portal with payments, balances, requests, and document access
  • Work orders, violations, communications, documents, and website tools included

  Where it doesn't

  • The $36/month price uses annual billing and varies by community size
  • No free plan is available
  • Access is provided through the web platform

• ResLife Finances9.0/10 · Free plan

  Low-cost HOA accounting with a permanent operations tier and $1-per-unit paid plans.

  Try ResLife FinancesFull verdict →
• HOAfy8.8/10 · 30-day trial

  Broad HOA accounting and management tools at a published $36/month annual price.

  Visit HOAfyFull verdict →