HOAleader.com - Tip of the Week - August 10, 2018
Published: Fri, 08/10/18
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Don’t Let Your Condo or HOA’s Water Bill Drag Your Budget Underwater
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In this week’s tip, we sound an alarm: Your water bill has probably risen, and it’ll probably keep rising.
In the past decade, water bills in Chicago have more than tripled, according to Food and Water Watch, a national nonprofit organization advocating for safe, sustainable, accessible, and affordable water and food. A new utility tax increase and water system renovations are expected to push bills even higher by 2020, it contends.
That’s just in Chicago. A Michigan State University researcher who studied water costs throughout the country concluded in 2017 that if water rates continue rising at projected amounts, the number of U.S. households unable to afford water could triple in five years.
That means condos and HOAs must either begin budgeting for higher water costs or they must find ways to dry up water waste. Scott Schnurr, CEO of DRF Trusted Property Solutions in Plainfield, Ill., says many associations can reduce their water bills by as much as 30 percent.
“The rising costs of water—which are getting worse and worse—and the minimal cost of corrections makes water conservation one of the best ways to save money out there,” he says.
Schnurr lives and breathes water, so to speak. Measuring its use and waste, along with the cost to reduce both, is one of the services his company provides to many clients, including community associations, in eight states: Colorado, Illinois, Indiana, Iowa, Michigan, Montana, Wisconsin, and Wyoming. The company also evaluates other utility usage and conservation options.
“Most often, I’ve found condo association boards are gripped by fear,” he says. “They often don’t have specific expertise on this issue.”
But when they dig in, they can often get past that and find solutions that save their association money. “I was in a meeting last week for a 312-unit association, and the most expensive condo in the building was about $300,000,” explains Schnurr. “The solution for reducing their utility consumption was almost $1.5 million. That wasn’t just a water solution; they had 50-year-old boilers, an antiquated pump system, and other issues.
“If you’re asking board members whose primary residence might be their largest investment to evaluate a $1.5 million solution, they don’t want to make a mistake,” he notes. “They want to do a good job.”
You can do that at your association. Check out Schnurr’s top areas to cut your water use in our new article: https://www.hoaleader.com/members/3769.cfm
Best regards,
Matt Humphrey
President
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Recent articles posted at HOAleader.com:
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Don't Let Your Condo or HOA's Water Bill Drag Your Budget Underwater
In this week's tip, we sound an alarm: Your water bill has probably risen, and it'll probably keep rising. In the past decade, water bills in Chicago have more than tripled, according to Food and Water Watch, a national nonprofit organization advocating for safe, sustainable, accessible, and affordable water and food. A new utility tax increase and water system renovations are expected to push bills even higher by 2020, it contends.
Click here to read full article:
https://www.hoaleader.com/members/Dont-Let-Your-Condo-or-HOAs-Water-Bill-Drag-Your-Budget-Underwater.cfm
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Saving Money: Can You Reduce Your Condo or HOA's Water Bills?
In the past decade, water bills in Chicago have more than tripled, according to Food and Water Watch, a national nonprofit organization advocating for safe, sustainable, accessible, and affordable water and food. A new utility tax increase and water system renovations are expected to push bills even higher by 2020, it contends.
Click here to read full article:
https://www.hoaleader.com/members/Saving-Money-Can-You-Reduce-Your-Condo-or-HOAs-Water-Bills.cfm
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Townhome Roof Repair: How to Get It Done
An HOAleader.com reader asks, I'm an owner of a townhouse, one of eight homes in one building under one roof. Our HOA has 31 buildings with 4, 6, or 8 townhomes in each building.
Click here to read full article:
https://www.hoaleader.com/members/Townhome-Roof-Repair-How-Get-It-Done.cfm
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How to Protect Yourself and HOA from the Neighborhood Sociopath
Join us for an in-depth webinar on October 25 led by two community association experts with decades of hands-on experience in advising associations. Watch this insightful webinar on how to wisely and safely handle the most difficult owners and residents you'll ever face.
Click here to read full article:
https://www.hoaleader.com/products/protect-hoa-neighborhood-sociopath-a.cfm
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Condo and HOA Kickbacks: No, Everybody Doesn't Do It
In this week's tip, we discuss a practice that some might consider normal -- hey, you scratch my back, I scratch yours! -- but that is a very bad idea and sometimes illegal.
Click here to read full article:
https://www.hoaleader.com/public/Condo-HOA-Kickbacks-No-Everybody-Doesnt-Do-It.cfm
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