Tag: Cost-Cutting Tips

Rising inflation has been all over the news, but that doesn’t necessarily make it any easier for boards and owners to swallow the climbing costs for both large projects and day-to-day operations. Fortunately, many associations saw the writing on the wall and increased their budgets for 2022. “Most of the increases we planned for in…

Rising inflation has been all over the news, but that doesn’t necessarily make it any easier for boards and owners to swallow the climbing costs for both large projects and day-to-day operations. Our experts have four moves you can implement now to reduce the pain of startling budget variances, unexpected special assessments, and similar financial…

Solar power is making gains in many parts of the country, and more and more community association owners are interested in installing their own panels. Associations traditionally have been resistant to such projects, citing aesthetics and other reasons. We’ll explain how state laws can limit associations’ ability to regulate solar panel usage. Why the surge…

Polling shows more people than ever are concerned about climate change — and people have always been concerned about their bottom lines. Whether driven by environmental concerns, financial considerations, or both, owner interest in solar power is on the rise in many communities. And, while neighbors may have aesthetic and other objections, state laws might…

This week, we dig into how your clients might reap substantial savings by upgrading to LED, or light-emitting diode, lighting. You've been in the dark if you don't know how much longer LED lights last than traditional bulbs. “We have some lights that will last over 100,000 hours, and most of our lights are rated…

With so many things in an association-run community depending on cash flow, one of a manager’s most important duties is to carefully watch costs. But there are so many other aspects of managing a community—such as hiring and training staff, keeping on top of maintenance, and fielding member requests and complaints—that you might be tempted to spend less time on keeping track of contractor costs.

Despite the improving economy, some communities are still facing increased costs associated with the abandoned and foreclosed homes left in disrepair during the economic downturn. They may be faced with the task of maintaining the still-abandoned properties at their own expense, tracking down the lenders that are failing to keep the properties up, or allowing the properties to become both unsightly and, in some instances, dangerous.

This past winter, you may have received calls from members complaining about inadequate heat in their condo units. Often, these complaints are unfounded or result from easily correctable problems. Provide too much heat, however, and you are just wasting fuel and money. The best bet is to address heating complaints right away, while also controlling your heating costs.