Mainten(uis)ance

Homeowner associations (HOAs) are responsible for maintaining the common areas and amenities of their community. This can include everything from landscaping to building maintenance. However, one common issue that HOAs face is deferred maintenance.

DEFINITION: Deferred Maintenance; is when necessary repairs or maintenance tasks are put off for an extended period, often due to budget constraints, a lack of awareness of the issue, or poor planning and management.

Deferred maintenance can lead to a variety of issues, including safety hazards, decreased property values, and increased repair costs. For example, if an HOA fails to address a leaking roof, the damage can spread and lead to more significant issues such as mold or structural damage. This can result in costly repairs that could have easily been avoided with timely maintenance.

According to a study by the International Facility Management Association, preventive maintenance can reduce maintenance costs by up to 18% and increase equipment lifespan by up to 60%. By prioritizing preventive maintenance, HOAs can identify and address maintenance issues before they escalate and become more costly to repair.

An experienced HOA management company like Liberty Allied Management can help prevent deferred maintenance issues from arising. Here are a few ways that they can help:

1. Develop and implement a preventive maintenance plan

An HOA management company can work with the board to develop a preventive maintenance plan that is tailored to the specific needs of the community. This plan may include regular inspections, cleaning, and maintenance tasks to identify and address issues before they become major problems.

2. Budget for preventive maintenance tasks

The management company can help the HOA set aside a portion of the budget specifically for preventive maintenance tasks. This can help ensure that these tasks are prioritized and completed regularly, even if unexpected repair costs arise.

3. Coordinate maintenance and repairs

The management company can also coordinate maintenance and repairs with vendors and contractors. This can ensure that the work is completed efficiently and effectively, minimizing downtime and reducing the risk of issues arising in the future.

By working with an HOA management company like Liberty Allied, HOAs can avoid deferred maintenance issues that can lead to costly repairs and decreased property values. In addition, preventive maintenance can improve the safety and livability of the community, making it a more desirable place to live.

It's important to note that preventive maintenance is just one aspect of proper property management. An HOA management company can also assist with budgeting, financial management, and community relations. All of which can is covered under the big umbrella of risk management. By partnering with a knowledgeable and skilled management company, HOAs can ensure that their community is well-maintained, financially stable, and operating smoothly.