Community association Board members are always looking for ways to trim expenses throughout the year. Being proactive in fixing small issues can save a lot of money for HOAs. Yet, it’s often one of the places that HOAs leave money on the table, resulting in future costly repairs and replacements. Why be reactive when proactive maintenance not only saves your HOA money, it can pay for itself in many cases.
Replacing a roof is a big-ticket item for homeowner associations. Proper maintenance prolongs the life and decreases the risk of premature replacement. Upkeep is more than repairing a leak—it’s preventing the leak in the first place. Annual or bi-annual maintenance includes:
High energy bills for your common areas? Local power companies offer many proactive maintenance ideas and energy programs to help you save money. Include some of these in your HOA’s maintenance plan. Communicate tips and resources to your homeowners to help them use energy more wisely too. Below are links to local power company websites for ideas and programs:
Maintaining association roads and sidewalks can dramatically reduce future replacement costs. It also improves safety issues in the community, which can reduce the potential for lawsuits. Take action as soon as minor issues become apparent.
Keep an eye out for issues that can be repaired early, and make an annual assessment part of your maintenance plan.
Regular preventative maintenance is critical in preserving community property values. It saves homeowners money, often even paying for itself by avoiding most costly repairs. It boosts the visual appeal of your community and makes it a place that homeowners want to call home. It’s a win-win for all.
Wise Property Solutions is a property management company serving East Tennessee with offices in Knoxville, TN and the Tri-Cities, TN-VA. Specializing in Condominium Association Management, Home Owners Association Management, HOA Management and Gated Community Association Management.
Tri-Cities, TN-VA: 423-926-7373
Kingsport, TN | Johnson City, TN | Bristol, TN | Elizabethton, TN | Erwin, TN | Bristol, VA
Knoxville, TN: 865-643-8989