8. Inadequate Budgeting
I recommend that boards look into taking a proactive approach rather than a reactive
approach with community maintenance. Being proactive results in cost savings, improved
safety, increased efficiency, and protection of common assets—benefits that all go a long way
toward supporting property values and making your community a pleasant place to
call home."
- Rob Hastings, PCAM®, CMCA®, AMS®
Regional Field Services Director East
Associa OnCall
"
Two prevalent board practices regularly land on the list of major no-nos, and they usually go
hand-in-hand: not raising assessments and deferring maintenance.
While no one likes making the unpopular decision to raise assessments, as a board member,
it's your duty to budget wisely. That means protecting, maintaining, and enhancing the
community—all things that cost money. You can't wait for items to fail; you must be proactive
and set realistic budgets for repairs and necessary maintenance. Deferring maintenance
because you don't want to raise fees will cost your association in the long run.
