Cutting Costs or Cutting Corners
Cutting Costs or Cutting Corners?
Managing costs and keeping them low is necessary for any successful association, yet cutting costs too much or in the wrong areas ends up hindering an association more than helping it. Keep reading to realize cost-cutting maintenance mistakes and learn how to avoid them.
While it is important to shop around, do not take shopping around to an extreme. In the short-term, shopping around may be beneficial only by saving your association a few dollars. However, saving a small amount of money is not as imperative as building relationships with vendors you know you can trust, which is what you will get by being consistent with the vendors you hire. It’s much better to develop relationships with a handful of compliant vendors that do-good work and offer fair prices.
Hiring Unskilled Workers
By presently spending more money finding compliant vendors, your association will save money overall. Although unskilled or unlicensed workers may charge you less for their services, they do so because they do not have the ability to do the job the right way. Consequently, their cheap labor will result in costly repairs when they do not fix your property the right way. Also, injuries to workers without proper insurance could make you responsible for paying for the injuries. An expert repair will last longer and complaint vendors will always make sure to have the proper insurance.
Waiting on Repairs
Though you may think that waiting on non-essential repairs isn’t costing your association anything, regularly fixing minor repairs actually saves your association money over time. A small repair today may save a disaster tomorrow. Therefore, inspect your property frequently and with a certified vendor list you can get these problems fixed easily before they become huge issues. Although spending money may not feel great, you will be hurting much more if you have a huge repair to make in a few months.
Association Services Network is a best-of-class, easy-to-use, Asset Protection Vendor Compliance Program solution for condos, and homeowner associations. ASN provides the Vendor Directory and integration capability management software available to property managers, leasing agents, boards of directors, and back-office personnel. Quickly and easily access to whatever you need, whenever you need it. Act on the documents and vendor information at your fingertips. AT ABSOLUTELY NO COST TO YOU! Contact us today! Asn4hoa.com/cacm or 949-300-3702