Amenities - Many amenities are only used during part of the year such as the pool and tennis court. Also evaluate the hours of operation. If people are not using the service they will understand pairing it back.
Memberships - If the Gym is nice enough you can sell memberships to the local community. at $40 a month 100 memberships would bring in an extra $4000 per month. Set it up as atomatic payments and many people will keep the membership long after they quit using it. You can also charge quest fees.
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 - Many developers only look at the initial landscaping cost and not the cost of maintenance. When replacing landscaping be sure to look at the recurring costs.
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. Attorneys may even be able to recover attorney fees.
Insurance Claims - If in the last five 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 condo lawyer many not be enough. Contact an attorney at law who focuses on insurance claims. Many insurance companies deny underpay insurance claims. The law may state that the insurance company has to pay the legal fees. Also many attorneys will handle insurance claims in a way that no funds will be out of pocket.
Rehabilitate instead of Replace. Copper pipes can be restored 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 rehabilitation which can increase their life and save on costs.
Property Manager - Get a property manager who is experienced in lowering costs. A property manger with experience will also know which contractors come in on budget and which ones have a history of not competing jobs on time.
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