Many homeowners associations make the mistake of putting off maintenance costs until something needs to be replaced or repaired. While this may lower HOA dues, it can cause big problems later on down the pipeline. Anticipating the repairs and replacements that will need to be made rather than fearing them can actually cut down the costs of your HOA. Below are the HOA maintenance plans to make now to keep your association running smoothly.
Preventive HOA Maintenance Plans
A preventative maintenance plan is a proactive way to stay on top of repairs and replacements. This ensures that you get the most life out of everything your HOA offers and decreases the likelihood of something breaking down unexpectedly. Some things may need to be maintained weekly, monthly, or annually. This will allow your board to better plan the budget for maintenance needs. Consider things like monthly pool maintenance costs, bi-annual gutter cleaning costs, lightbulb replacements every few, and road/parking lot maintenance once a year.
Predictive HOA Maintenance Plans
Another proactive maintenance plan is the predictive plan, which hinges on things giving signs before they need to be repaired or replaced. This will require residents to be alert to signs that there are problems, so they can be taken care of. This could be as simple as noticing a leak to noticing the HVAC isn’t blowing air that’s as cold as it was before.
Seasonal HOA Maintenance Plans
Weather can have a big impact on your community and present more wear and tear on items. Put together some seasonal repairs and replacements you can take care of, like landscaping needs, repainting common areas, and fixing cracks in the asphalt in the spring.
Deferred HOA Maintenance Plans
Deferred maintenance plans should be avoided because they allow repairs and replacement projects to pile up until the board has funds to take care of them. This can be dangerous, as it can lead to safety and health hazards for the entire community, a decline in property values, and an increase in insurance costs if you’re not careful.
Emergency HOA Maintenance Plans
It’s important to have plans in place for emergencies. If there’s roof damage or a flood of some sort, taking care of those repairs will take precedence over anything else. An emergency maintenance plan will give you an action plan for how to deal with extreme situations.
If you have questions about HOA maintenance plans and how to get started enacting them in your association, contact Prism Realty Management. Learn about who we are, the services we offer, and our process, then give us a call at 512-676-5842.