Building a Property Maintenance Plan - Increase Savings and Efficiency

Posted by .(JavaScript must be enabled to view this email address) on Tuesday, December 30, 2014

property maintenance painting in chicagoland

At Final Touch Painting and Decorating, we spend a lot of time working with property managers and board members of HOAs. Because of this, we have a realistic understanding of the expenses you encounter, and of how there are many needs calling out for each dollar in the budget.

To help you stay on top of your funds allocation, there are a few steps you can take that will both prioritize your needs as well as streamline your spending. The first step is simply zooming out and taking a look at your overall strategy: are you reactive, proactive, or predictive?

Which Is Your Property Management Approach?

  • Reactive - With a minimal budget, you find yourself waiting until the next issue is right on your plate before dealing with it. Until that time, it’s out of sight and out of mind.
  • Proactive - Issues are dealt with quickly and efficiently when they come up, but there is no real maintenance plan.
  • Predictive - As close as you can come without having a crystal ball, you predict and plan for when needs and expenses arise. The money is set aside, and you have a plan in place.

In a perfect world, a blend of predictive and proactive is ideal. But, we understand that things don’t always go exactly according to plan, and we certainly don’t live in a perfect world. With that in mind, we’ve put together a few ideas to help you make the step from a reactive approach to predictive when it comes to planning and budgeting your property maintenance needs.

  • Limit New Improvements – Initially, this might sound like a bad idea. But, if money is leaking out of your budget to install features or upgrades in your community that are ultimately unnecessary, this might be the step you need to take (at least temporarily).
  • Build a Plan – Keep a maintenance log, if you don’t already, to closely monitor repairs past and present. Over time, these entries will begin to tell a consistent story, helping you to predict when certain aspects of the property will need to be repaired, replaced, or refreshed.
  • Build a Budget – Using data from maintenance and expense logs, construct a realistic, bare-bones budget. Cover the essentials first, then see what might be left over for improvements.
  • Make Worthwhile Upgrades – Energy-efficient windows, for example, will benefit everyone, as will energy-saving light bulbs and motion-detector lights. Invest in those things that will pay for themselves over time.
  • Maintain More than You Repair – Whether it’s hiring a professional painting company to maintain interior and exterior painting or closely monitoring another component of your structure, consistent care will serve you better than suddenly needing to start from scratch.
  • Communicate – Draw the members of your community into the discussion and share how their respect for their property will impact association dues and expenses. This can create a sense of ownership for them, and investment. After all, the goal is universal: to save money and create a beautiful neighborhood that everyone is proud of.

Contact a Professional Painting Company

We are all about building quality, professional relationships. It’s important that you research and locate a reputable painting company who can help maintain your properties, inside and out, in a predictive, proactive way. If you are located in the Chicagoland area, we hope you will reach out to us! We offer a wide variety of painting and maintenance services to an equally wide variety of commercial clients. It would be our pleasure to help!

Get your FREE Estimate today!