CHICAGO PROPERTY SERVICES, INC.
Community Association s Guide to the
Association’s
Top 10 Ways to Save Money
Prepared by:
Salvatore J. Sciacca, President and Founder
www.chicagopropertyservices.com
312-455-0107 x102
BUILDING BETTER COMMUNITIES ONE ASSOCIATION AT A TIME

Table of Contents
CHICAGO PROPERTY SERVICES, INC.
1. Management services 6. Preventative
contract maintenance
2. Onsite management 7. 5 year capital plan
3. Onsite building
3 Onsite building 8. Insurance coverage
maintenance 9. Building contract
services
4. Assessment collections
Assessment collections
10. Large Scale Projects
10 L S l P j t
5. Review utility expenses

1. Management Services Savings
CHICAGO PROPERTY SERVICES, INC.
Check if contract is “all inclusive”
Don’t overpay for services that you don’t need
Downgrade service plan and pay for extra
services only when needed
The board may consider taking on some work
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to save money

2. Onsite Management Savings
CHICAGO PROPERTY SERVICES, INC.
Scale back from full time to part time onsite
services
Scale back from multiple onsite personnel to 1
onsite person
Transfer the workload to the management
back office

3. Onsite Building Maintenance Savings
CHICAGO PROPERTY SERVICES, INC.
Scale back management company full time
maintenance personnel
maintenance personnel
Consider part time personnel
Scale back further to completely offsite
– Management company offsite engineering staff
– Independent engineering/maintenance company

4. Assessment Collections Savings
CHICAGO PROPERTY SERVICES, INC.
Change monthly assessment collections policy
to a quarterly or annual timeframe
to a quarterly or annual timeframe
Save on postage and printing
Check postage and printing expenses for
association
Consolidate mailings

5. Utility Savings
CHICAGO PROPERTY SERVICES, INC.
Install high efficiency light bulbs
Change light fixtures so that they accept high
efficiency light bulbs
Consider long term energy contracts
Promote high efficiency water spigot fixtures
g y pg
Educate homeowners on savings

6. Preventative Maintenance
CHICAGO PROPERTY SERVICES, INC.
Review ALL association elements that require routine
maintenance
– Building Envelope
– Mechanicals
– Life Safety
Lif S f
– Miscellaneous
Consider implementing PM on the above elements
Consider implementing PM on the above elements
Prevent EMERGENCIES!
Studies have shown potential savings of 12% to 18%
St di h h t ti l i f 12% t 18%
of annual budgets

6. Preventative Maintenance Checklist
CHICAGO PROPERTY SERVICES, INC.
Roof Gates/Doors
Masonry
M Fitness equipment
Fi i
Elevator Garbage
Fire/Safety compactor
Electrical Water booster
Plumbing pumps
maintenance Parking lot
Parking lot

7. 5-Year Capital Plan
CHICAGO PROPERTY SERVICES, INC.
Create a working plan for capital expenditures
Revise the plan annually
Incorporate a reserve study if available
Deferred maintenance costs rise exponentially
y
not linearly

8. Insurance Savings
CHICAGO PROPERTY SERVICES, INC.
Check current coverage
Some associations are over insured
Bid out current contract
Use multiple insurance agents/brokers if
p
possible
Ask current broker to match lower price
quotes if applicable
quotes if applicable

9. Building Contract Services
CHICAGO PROPERTY SERVICES, INC.
Bid out snow removal services
Consider an annual snow contract that
includes a labor and materials
Bid out janitorial and maintenance services as
well
Consider scaling back the amount of service
– Frequency
– Materials

10. Large Scale Projects
CHICAGO PROPERTY SERVICES, INC.
Get an architectural engineer
Higher cost up front
Lower cost on the back end
Significantly lowers the risk of project failure
Lowers risk of lawsuits
Lowers risk of lawsuits
Many associations take on large scale projects
with management company support only
with management company support only