Real Money Saving Ideas for Real Community Associations

Everyone is talking about saving money and cutting expenses in these hard economic times. But what does that really mean to you and your association? How does an association cut expenses? I don’t know very many associations that have extra money to spend; most struggle just to pay the basic operating expenses. With assessment income down and operating expenses up, many associations are finding it hard to pay vendors and continue services.

Here are a few real, inexpensive ways to save a little – and perhaps a lot of - money.

Save Water!
This seems obvious but many associations are wasting money and valuable resources. If your association pays for water for owners, encourage owners to check for leaking toilet flappers and check hose bibs. A leaking toilet can waste hundreds of gallons of water a day; multiply that by the number of units or homes and that can add up to big bucks!

Install a rain gauge and make sure it works. This is mandatory in many cities but even if you have one, check that is works properly. Rain gauges are inexpensive but they can save an association quite a bit of water expense if used correctly by reducing the use of the irrigation system.

Check and adjust the sprinkler system. Some people think watering three days a week for 10-15 minutes per day per station keeps the landscape looking nice. It might, but it also burdens the association by requiring frequent watering. Watering for longer periods of time and less often, maybe two days a week, helps plants dig deeper, stronger roots. As the water penetrates the dirt and goes deeper, so do the roots. This, over time, helps plants survive with less watering.

Power Save
Switch light bulbs to compact florescent or LEDs and save the association some money and the earth some energy.

Review the association’s electricity bill. If the association is in a deregulated area, shop around for less expensive providers. Everyone is looking for business right now, capitalize on it! Also, don’t assume the provider you have is billing correctly, always double check the bill for wrong billing rates or additional service fees.

Consider turning off non essential equipment. If there is a clubhouse or onsite office look into what can be unplugged or turned off when not in use. Appliances and equipment that have transformers always are drawing small amounts of electricity. Unplugging these times can save resources as well as a little green.

Saving money is like an extra job, it takes work to really save. Accomplishing one or more of these ideas or other money-saving ideas may not save enough to reduce assessment fees, but consistent money-saving efforts do pay off and help the bottom line.

Association Times' Staff Writer