How to Save Your Community Association Money
Be aware that Boards are open to lowering their overhead in creative ways that will lessen the impact of their association receiving lower assessment income., Begin to “Piggyback” your mailings., Begin to utilize as much as you can by communicating...
Step-by-Step Guide
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Step 1: Be aware that Boards are open to lowering their overhead in creative ways that will lessen the impact of their association receiving lower assessment income.
Consider these suggestions before you ratify your 2010 budget; -
Step 2: Begin to “Piggyback” your mailings.
For example, combine mailings for 2 meetings in one package.
Or Notices with newsletters and other announcements.
Assessment coupons and meeting notices.
The point is to combine and save on paper, postage and labor. , There are cheap email programs that you can use to coordinate, manage and send mass email messages to your owners. , This should result in a lowering of the management fees. , We now see many companies and several associations going to 4 day work weeks or 6 hour days.
No one wants their income reduced, but this is a better alternative to being let go and not having a job at all. ,, December, January and February are months that can have reduced landscape services that do not impact the overall appearance of the community. , Have your pool company as the Licensee (responsible for the Chemicals & Repairs) and your maintenance people trained to do the cleaning.
Your pool maintenance company will reduce their service costs this way. , Depending on what you decide, there could be a large savings.
Also, consider having an insurance appraisal done, as costs and values are down and your insurance premiums should go down too. , Maybe this is the year to waive, partially fund or fund only the important reserve components.
If possible, have a Review instead of an Audit.
Or Waive this entirely. -
Step 3: Begin to utilize as much as you can by communicating through email to your owners in order to cut down on paper
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Step 4: copies
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Step 5: postage and labor.
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Step 6: Have your management company cut down on the amount of site visits during the month.
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Step 7: If you have a manager that is on-site for a certain amount of hours
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Step 8: consider cutting back on the time/hours and there will be a cost reduction.
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Step 9: Same as #5 for maintenance
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Step 10: janitorial and security personnel.
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Step 11: Have your landscaper provide prices for less mowing
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Step 12: bed cleaning and reduced amounts of other services.
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Step 13: Consider reducing the amount of site visits and pool cleanings from your pool maintenance company.
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Step 14: Meet with your insurance agent and see if your insurance deductibles can be raised and what the impact will be on your insurance premiums.
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Step 15: Consider funding.
Detailed Guide
Consider these suggestions before you ratify your 2010 budget;
For example, combine mailings for 2 meetings in one package.
Or Notices with newsletters and other announcements.
Assessment coupons and meeting notices.
The point is to combine and save on paper, postage and labor. , There are cheap email programs that you can use to coordinate, manage and send mass email messages to your owners. , This should result in a lowering of the management fees. , We now see many companies and several associations going to 4 day work weeks or 6 hour days.
No one wants their income reduced, but this is a better alternative to being let go and not having a job at all. ,, December, January and February are months that can have reduced landscape services that do not impact the overall appearance of the community. , Have your pool company as the Licensee (responsible for the Chemicals & Repairs) and your maintenance people trained to do the cleaning.
Your pool maintenance company will reduce their service costs this way. , Depending on what you decide, there could be a large savings.
Also, consider having an insurance appraisal done, as costs and values are down and your insurance premiums should go down too. , Maybe this is the year to waive, partially fund or fund only the important reserve components.
If possible, have a Review instead of an Audit.
Or Waive this entirely.
About the Author
Teresa Young
Brings years of experience writing about lifestyle and related subjects.
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