Kuester Management Group Details Cost-Saving Strategies for HOAs

Kuester Management Group highlights ways that homeowners associations can be proactive in reducing expenses.
By: Kuester Management Group
 
CHARLOTTE, N.C. - Feb. 18, 2020 - PRLog -- Financial management is a major component of running an HOA. Afterall, the association must have the funds available to maintain the community. That requires detailed budgeting and the building of adequate reserves. But as costs creep up, it can be more difficult to keep fees under control. Kuester Management Group has released a statement to the press regarding how HOAs can generate cost savings and operate more efficiently.

"A key place to start is looking at the association's existing budget and expenses," says Bryan Kuester, President of Kuester Management Group. "Prioritize what is truly important versus what is more for convenience. The board may realize it is spending money on unnecessary services or additional features that are not needed."

Once that is done, the HOA can begin the process of renegotiating contracts or putting out RFPs to identify other vendors, says Kuester. For example, the association may be able to cut costs by having the lawn mowed once a week rather than twice without detracting from the overall appearance of the neighborhood. Adjusting the frequency or scope of services can lead to savings, but make sure it does not impact safety or quality. The HOA may also be able to find a vendor that offers the same services for a more competitive price.

Another option is to look at changes that can save money in the long-run such as going paperless. It may cost the association more upfront to invest in the necessary software or services, but cutting down on ink, paper, files, postage, and other expenses for communications and documentation can add up. When replacing assets, also look for more energy-efficient options that will generate savings over time.

Kuester Management Group supports HOAs in improving operations, negotiating with vendors, distributing communications, and taking other initiatives to function more efficiently and cost effectively. Learn more about available services by visiting www.kuester.com.

ABOUT:

Kuester Management Group, a division of Kuester Companies, works to protect property values and enhance the quality of life in each of its managed communities. Providing a full range of association management services, Kuester Management Group has worked to foster strong, resilient, and unified communities across North and South Carolina. The company is proud to offer on-site property managers, all zealous for building strong communities meant to stand the test of time. More information is available at www.kuester.com or @KuesterCompany.

Contact
Bryan Kuester
Kuester Management Group
***@kuester.com
End
Source:Kuester Management Group
Email:***@kuester.com
Tags:Kuester Management Group
Industry:Real Estate
Location:Charlotte - North Carolina - United States
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