Cost Management

Home Owners Advantage|Cost Management

Cost Management

An aggressive approach to cost management starts with ensuring that all receivables are collected in a timely manner. We couple our collection activities with initiatives designed to lower the association’s operating costs in areas such as energy consumption, sub-meter reading, utility billing, and a proven in-house maintenance program that reduces the association’s reliance on costly third-party vendors. Through the implementation of streamlined processes and partnerships with preferred vendors, HomeOwners Advantage is able to develop viable operating budgets with minimal impact on homeowner association dues. Below are a few examples of our ability to drive measurable cost savings:

Case Study 1:

HomeOwners Advantage was hired to manage a 36 unit ultra-luxury midrise property in Atlanta. During the first year of operation, Homeowners Advantage realized a savings in excess of $100,000 for the association – of which a portion was used to “forgive” its unit owners of their December association dues! Our annual survey results for the following year indicated that resident perception of the building’s services improved!

Case Study 2:

HomeOwners Advantage acquired an account where the lack of fiscal discipline and accountability was the primary driver behind why the association had changed management companies. HomeOwners Advantage was confident that we could realize significant savings for the association and committed to reducing the current operating budget by $20,000 within the first year. The savings achieved were nearly triple this number!