Here are real examples of saving money for our HOAs:
- For years, the HOA paid $2,000 annually for electricity that served municipal lights. We caught this because we questioned the utility bills and asked our facilities management department to investigate. Savings: $2,000 annually + $16,000 refund
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The HOA had only one bid for $21,750 to install water meters when we started management. We ordered the meters directly and found another plumber to install the meters on a time and materials basis. Savings: $12,500
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The HOA had a $9,000 bid to stop a leak in the the mechanical room. When we started management, our staff solved the problem with $100 worth of shoveling and foam. Savings: $8,900
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The pest control company had been servicing the wrong address, probably for years. Savings: $816 annually
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The HOA did not know that the snowmelt system on residential decks had to be mannually turned off. It had been running all summer for years. Savings: over $1,000 annually