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Lowering Homeowners Association Fees

March 01,2013

Lowering Homeowners Association Fees and Dues are a priority at Inventive Property Management.

Lowering Homeowners Association Fees and Dues are a priority at Inventive Property Management. Everytime you turn around it seems that the dues that are paid by HOA members are constantly rising. It is very frustrating when year after year the money you are paying out is getting you the same or most of the time less service. Have you ever stopped to think about the reason why? We want to dive into some of the main reasons HOA's aren't lowering their Homeowners Association Fees.

First, and typically the issue seen most often is due to complacency and resistance to change. It takes a lot of effort on behalf of the Management Company and Manager to stay on top of what is causing the rise in the the rates, and much easier to just blame it on another reason such as inflation, or unforseen circumstances. Usually there are specific items that cause the increase in cost such as not keeping an eye on utility usage, or not properly funding reserve funds. By not taking the time to audit this type of information on a timely and consistant basis, they are overlooked and can cause waste and higher prices for everyone.

A second reason that prices tend to go up for Homeowners Associations, is a lack of adoption of technology and innovation in the industry. There have been massive shifts in technology over the last 10 years, however many Homeowners Associations do not get to take advantage of them. Unfortunately when you are managed by a Management Company, you are typically adopting their technology regardless of how outdated it is. As you can imagine if you are using technology from years ago, then your Association is missing out on effeciency and cost control opportunities. This is equivalent to paying more for what you are getting.

At Inventive Property Management we encourage Associations to look at many of their procedures that are in place and think about how they could be improved, or altered to send the price that they are paying for their dues heading lower instead of higher.


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Inventive Property Management

336-755-7285

Alan

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