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Condo Association Budgets - Cut Condo Costs at all Costs


Question:

Condo Budgeting - Cut Costs at all Costs
Don't spend money that your condo association can't really afford and isnt in condo reserves. Think twice about needed services and condo initiatives, and then prioritize them. If condo owners are willing to swallow costs for all condo projects, that's great, but many new and smaller condo associations have young people as members that want to live nice, but are most likely on a small condo budget. If you do have a young condo association, throw painting party, instead of hiring a painter for $10K. You'll get it done cheaper and probably much faster. If your cost cutting is successful at the end of the year, put the money in the condo reserve or throw a bash.

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