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Effectively Manage An Association Budget with Cost Saving Measures

Posted by Jane F. Bolin, Esq. | Jun 06, 2014 | 0 Comments

Use cost saving technologies and techniques to properly manage an association budget

We are excited to announce that this week's article is one from guest blogger John Archer with Intuitive Energy Solutions on effectively managing an association budget with cost saving measures! Check it out below:

Community associations and property managers have the responsibility to manage an association budget that includes common area maintenance and utilities.  Taking steps to reduce maintenance costs and lower monthly utilities can have multiple benefits:

  1. Build reserves as operating costs are lowered
  2. Create cash needed for other projects
  3. In time, lower monthly association fees for owners
  4. Preserve and protect property to reduce maintenance costs
  5. Lengthen maintenance cycles to save money

New technologies make the ROI on energy saving and preventative maintenance measures a smart investment.  These innovative products will add value to any condo association and its unit's owners.

  • Nanotech Exterior Paint – Revolutionary nano-technology based paint that reflects over 90% of the sun's heat, slows cracking and aging of the concrete (less maintenance), prevents mold/mildew growth, self-cleans in the rain (less power washing and cleaner building), and resists fading (longer time between repainting).
  • Nanotech Window Coatings – This superior coating is made of silicone nano-particles.  It is sponged on the interior of the window as a liquid and dries clear.  Block 90% of the sun's IR heat and 99% of UV to save money on cooling costs, prevent fading/damage to interior furnishings, and preserve clear views.
  • Water Valve – Did you know that approximately 10% of the water volume passing through your meter is air…and you're paying for it!  This valve attaches immediately after your water meter that prevents air bubbles from passing through the meter and you paying for that volume of air.  Eliminate the air and receive the savings immediately.
  • LED Lighting – LED lighting saves up to 85% in electricity costs over standard lighting and costs have continued to decline.  In addition, LED lights last up to 10 years to reduce maintenance costs.  Finally, reduced heat from the lighting lowers cooling loads and A/C use.  If your building has old tube lights, you should have an assessment done to determine how much you can save.
  • A/C Additive – Over time, compressor oil gets into the refrigerant lines of your A/C system.  The oil first changes the viscosity of the refrigerant, slowing it down, and causing decreased efficiency.  Then, it begins to build up on the walls of the refrigerant lines.  This further decreases the efficiency of the A/C system by blocking heat transfer and slowing refrigerant flow.  The additive is designed to breakdown the buildup of oil on the walls of the refrigerant lines and prevent it from reoccurring.  The A/C unit runs more efficiently, saves money, and extends the life of the A/C unit.  The additive is warrantied to work for the life of the system.
  • Nest Smart Thermostat – Save money on cooling costs with a thermostat that adjusts to your lifestyle.  Motion sensors detect when you are not home to keep from cooling an empty unit.  Software takes your input during the first week to automatically program the thermostat to your schedule.  Wireless connectivity allows you to check/adjust the temperature in your unit from any smartphone, computer, or tablet.

Use these preventative maintenance technologies and techniques to help reduce maintenance costs and lower monthly utilities in order to effectively manage an association budget, all while increasing your property value. Making small changes now can leave to big savings in the future so sit down and see what where your association needs the most help.

About the Author

Jane F. Bolin, Esq.

Founding Member, Managing Partner


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