PayHOA vs Novo: Which is Better in 2026?
Choosing between PayHOA and Novo comes down to understanding what each tool does best. This comparison breaks down the key differences so you can make an informed decision based on your specific needs, not marketing claims.
Bottom line: Novo wins this matchup. BILL ranks #1 on our Invoicing list. Perk is our free Invoicing pick. Pick PayHOA if you need property management.
Short on time? Here's the quick answer
We've tested both tools. Here's who should pick what:
PayHOA
All-in-one software to manage your community, automate invoicing, and streamline HOA accounting.
Best for you if:
- • You want eliminates the need for separate accounting software like QuickBooks by offering comparable functionality
- • You want provides unlimited storage, messaging, and homeowner management across all plans
Novo
Smarter online business banking solutions for small businesses and self-employed entrepreneurs.
Best for you if:
- • You want a free tier before you commit
- • You want business banking for small businesses
- • You want no hidden fees approach
| At a Glance | PayHOA | Novo |
|---|---|---|
Starts at | $0.55/mo500+ units | FreeFree tier available |
Best For | Property Management | Finance |
Rating | 4.7/5 | 4.0/5 |
Free plan | No | Yes |
Choose PayHOA or Novo?
Choose PayHOA if
All-in-one software to manage your community, automate invoicing, and streamline HOA accounting.
- You want eliminates the need for separate accounting software like QuickBooks by offering comparable functionality
- You want provides unlimited storage, messaging, and homeowner management across all plans
- Your work is property management-shaped, not finance-shaped
Choose Novo if
Smarter online business banking solutions for small businesses and self-employed entrepreneurs.
- You want a free tier before you commit
- You want business banking for small businesses
- You want no hidden fees approach
- Your work is finance-shaped, not property management-shaped
| Feature | PayHOA | Novo |
|---|---|---|
| Pricing Model | Paid | Freemium |
| User Rating | ★4.7/5 1,437 reviews | ★4.0/5 4,812 reviews |
| Categories | Property ManagementAccounting | FinanceInvoicing |
In-Depth Analysis
PayHOA
All-in-one software to manage your community, automate invoicing, and streamline HOA accounting.
PayHOA's per-unit pricing is fair for small to mid-sized HOAs (e.g., $54/mo for 0-25 units, $109/mo for 51-100 units), but the flat $275 monthly minimum for 500+ units makes it less cost-effective at scale compared to per-unit competitors.
Watch out
$275 minimum monthly for 500+ units
Strengths
- +Eliminates the need for separate accounting software like QuickBooks by offering comparable functionality.
- +Provides unlimited storage, messaging, and homeowner management across all plans.
- +Offers comprehensive onboarding support including data migration and 1-on-1 screenshare meetings.
- +Integrates securely with FDIC-insured banks and supports Plaid for transaction data.
- +Automates many time-consuming tasks, significantly reducing administrative burden for HOA boards.
Weaknesses
- -Specific pricing details are not publicly listed and require contacting sales.
- -Support hours for 1-on-1 screenshare meetings are limited to Monday-Friday, 9am-5pm ET.
Key features
Novo
Smarter online business banking solutions for small businesses and self-employed entrepreneurs.
Novo's pricing is exceptionally generous, offering a completely free tier with no monthly fees or minimum balance requirements.
Strengths
- +Business banking for small businesses
- +No hidden fees approach
- +Integrates with business tools
- +Easy account setup
- +Mobile-first banking
Weaknesses
- -Limited to US businesses
- -No physical branch locations
- -Feature set still evolving
- -Deposit and transfer limits
- -May not suit all business needs
Key features
Pricing: PayHOA vs Novo
| Plan | PayHOA | Novo |
|---|---|---|
| Tier 1 | $54/mo Your plan (0 - 25 units) | Free Free |
| Tier 2 | $49 per month, billed yearly Your plan (0 - 25 units) - Yearly | N/A |
| Tier 3 | $65/mo Your plan (26 - 50 units) | N/A |
| Tier 4 | $59 per month, billed yearly Your plan (26 - 50 units) - Yearly | N/A |
| Tier 5 | $109/mo Your plan (51 - 100 units) | N/A |
| Tier 6 | $99 per month, billed yearly Your plan (51 - 100 units) - Yearly | N/A |
| Tier 7 | $142/mo Your plan (101 - 150 units) | N/A |
| Tier 8 | $129 per month, billed yearly Your plan (101 - 150 units) - Yearly | N/A |
| Tier 9 | $186/mo Your plan (151 - 200 units) | N/A |
| Tier 10 | $169 per month, billed yearly Your plan (151 - 200 units) - Yearly | N/A |
| Tier 11 | $219/mo Your plan (201 - 300 units) | N/A |
| Tier 12 | $199 per month, billed yearly Your plan (201 - 300 units) - Yearly | N/A |
| Tier 13 | $252/mo Your plan (301 - 400 units) | N/A |
| Tier 14 | $229 per month, billed yearly Your plan (301 - 400 units) - Yearly | N/A |
| Tier 15 | $275/mo Your plan (401 - 500 units) | N/A |
| Tier 16 | $249 per month, billed yearly Your plan (401 - 500 units) - Yearly | N/A |
| Tier 17 | $0.55 per unit, per month ($275 monthly minimum) 500+ units | N/A |
| Tier 18 | Starting at $199 /month Bookkeeping service | N/A |
| Tier 19 | Starting at $399 /filing 1120-H filing | N/A |
| Tier 20 | Starting at $995 /filing Full 1120 | N/A |
| Tier 21 | $15 /filing 1099 filing | N/A |
Pricing verified from each vendor's public pricing page. Compare in detail on PayHOA pricing and Novo pricing.
Who Should Use What?
On a budget?
Novo has a free tier. PayHOA is paid only.
Go with: Novo
Want the highest-rated option?
PayHOA: 4.7/5 (1,437 reviews). Novo: 4.0/5 (4,812 reviews).
Go with: PayHOA
Value user reviews?
PayHOA: 1,437 reviews (4.7/5). Novo: 4,812 reviews (4.0/5).
Go with: Novo
3 Questions to Help You Decide
What's your budget?
PayHOA is paid. Novo is freemium. Novo lets you start free.
What's your use case?
PayHOA is a property management tool. Novo is in finance. Pick the category that matches your needs.
How important are ratings?
PayHOA is rated higher: 4.7/5 vs 4.0/5.
Key Takeaways
Novo
- Larger review base (4,812 reviews)
- Free tier available
- Our pick for this comparison
PayHOA
- Higher user rating: 4.7/5 vs 4.0/5
- Better fit for property management
The Bottom Line
Novo wins this matchup. BILL ranks #1 on our Invoicing list. Perk is our free Invoicing pick.
Frequently Asked Questions
Is PayHOA or Novo better?
Novo is rated in our evaluation. PayHOA is paid and Novo is freemium.
What are PayHOA and Novo used for?
PayHOA: All-in-one software to manage your community, automate invoicing, and streamline HOA accounting.. Novo: Smarter online business banking solutions for small businesses and self-employed entrepreneurs..
What does PayHOA cost vs Novo?
PayHOA is a paid tool. Novo is freemium (free tier + paid plans). Visit their websites for detailed pricing.