Unused Amenities – Cut back or close unused amenities. Close the pool during winter months when no one is using it. Reevaluate the hours of the fitness center. If people are truly not using the the services they will not mind if they are cut back. They will also appreciate the saving.
Quest Fees – If you complex is attractive you may be able to sell memberships to the gym, swimming pool and and tennis courts. You can also charge a small fee for quests.
Advertising – Many local business will buy advertising in the newsletter and the common areas. One easy way is to place Google adsense on the website.
Landscaping – Look into lower maintenance landscaping. Many time the developer is only interested in making the property look good until it sells. Once the condo association takes over the landscaping is their worry. When replacing it look for low maintenance solutions.
Collect Monies Owed. Past Due fees can hamper a condo association. You can often hire an attorney to handle collections for a percentage of what is collected. Attorneys may even be able to recover attorney fees.
Insurance Claims – If in the last 5 years your association had to get a loan (like those from SBA or FEMA) for repairs (Storm, Hurricane, Natural Disaster, Tornado or any accident) your regular attorney many not be enough. Contact an attorney who focuses on insurance claims. Many insurance companies deny underpay insurance claims. Many times the law states that the insurance company has to pay the legal fees. Moreover, many Lawyers will handle insurance claims in a way that no funds will be out of pocket.
Rehabilitate instead of Replace. instead of copper pipe repair can be rehabilitate to better than new condition with epoxy pipe lining from CuraFlo. It is generally 30% cheaper than re piping and is much less obtrusive. RLS Solutions offers sewer lining and manholes to increase their life and save on costs.
Property Manager – employ a property manager who is experienced in cutting costs. A PM with experience will also know which contractors come in on budget and which ones have a history of completing jobs late.
Chirs Lim is one of the orlando FL lawyers who can help you with Florida condo law Advertising Agencies include Net Advertising Group