HOAs are known for promoting a high standard of living, but with this comes the unfortunate stereotype of being way too unaffordable. It’s necessary for HO management to collect dues, of course – how else would amazing amenities and a stress-free lifestyle be paid for?
However, if your HOA is getting financial complaints from residents, it might be smart to look into what you could do to make things more affordable. By imposing too-high dues, not only are you causing friction with your current community, but you could be creating monetary barriers for potential new residents and thus stifling your neighborhood’s growth.
While making your HOA more affordable might seem like an impossibility, Gassen is here to say that it’s not. As a Minnesotan provider of property management services, we’ve helped many HO management boards grow their communities and watch satisfaction levels flourish.
And we’re about to share a few trade secrets on how to smartly manage your HOA’s funds to create a happy and thriving locale!
Accounting Property Management Services Can Help Your HOA Manage its Money
Face it: Budgeting for an HOA is hard!
There’s so much that goes into it – vendors, taxes, separate accounts for operational and reserve accounts…the list goes on and on. If you’re not investing in accounting property management services from a competent and qualified provider, it’s hard to spend smartly.
Services from Gassen can tame the raging sea of numbers your HOA deals with and advise you on how to proceed. In addition to property management services, to save money, your HOA can also:
Shop Around for Vendors
Even if you’ve been with the same company for years, there could be one out there that offers the exact same services but for less. It’s a smart way of drawing customers, from that business’s standpoint, so don’t be afraid to take advantage of it.
DIY Where You Can
If your community is small enough, the board might be able to take care of some tasks on its own, such as shoveling or landscaping. Just be careful not to get in over your head.
Choose Long-Lasting Landscaping
If you’re buying annuals – plants that don’t overwinter – year after year, your landscaping budget could be a major money-eating monster. Consider species that infallibly overwinter instead. It might be an up-front investment, but you could save in the long run.
Contact Gassen for money-saving, online property management and accounting property management services! Our Eden Prairie team is here to help your HOA save despite these trying times. Let us handle your financial woes and give us a call today at 952-922-5575.