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Stratabox.com.au will give you a free trial of software to do exactly that.
A password protected website or online forum will give you a level of protection against defamation and privacy claims because it is for internal use only.
However, that protection evaporates if there is malicious intent behind any offensive posts – especially if those posts get out to a wider readership. But that’s one reason a protected website is better than a publicly visible noticeboard.
I met a strata manager a couple of years ago who had to shut down a strata’s web forum because two owners were using it to hurl nasty abuse at each other.
Password protection and a tight code of conduct would take care of that, though. Your next problem is who manages it.