Proactive Maintenance Saves Money for HOAs
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:
Cleaning the gutters
Removing moss, leaves and twigs
Replacing loose or damaged shingles
Repairing flashing around chimneys and vents
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:
Johnson City, Tenn. – www.jcpb.com
Kingsport, Tenn. –www.appalachianpower.com
Knoxville, Tenn. – www.kub.org
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.
Identify and repair cracks in sidewalks and streets
Replace deteriorated sections of asphalt and concrete
Eliminate long-term problems such as tree roots that cause damage
Paint parking lines and road markings as needed.
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 East Tennessee’s only Accredited Association Management Company (AAMC®). As the region’s leader in community association management, the firm is committed to the industry’s best practices and continuing professional development. Wise Property Solutions’ certified and highly trained property managers empower well-organized and efficient communities. The firm maintains offices in both Knoxville and the Tri-Cities.