Ways to Save Money for Your HOA
As a property owner, you’re likely always interested in ways to save money on expenses and usage by your residents or tenants. Here are a few pointers to keep in mind yourself and also possibly share with those living on your property. For even more ideas, it’s smart to consult with your Rental Property Management for cutting down on costs.
You might not realize that the electronics in a house can really up the cost. Even when they are turned off, keeping them plugged in while still pull a phantom charge that increases cost. To avoid this, unplug them completely when they aren’t in use and when you aren’t home.
Be Conscious of Lights
Making it a habit of turning off lights when you leave a room can really add up. This is just a little less time they’re on, but it’s easy to forget about them when you walk into another room, which could lead to much more costs over time. And be absolutely sure to turn off lights when leaving the house for a long period of time.
Consider Public Transportation
If you don’t have your own vehicle, public transportation is the best option financially as opposed to apps like Lyft and Uber that can really add up. Other options are walking to close destinations or riding a bike whenever possible.
With subscription services like Netflix, Amazon Instant Video, and HBO GO, you can use one of these instead of regular cable and save a large chunk per month. Plus, devices like Roku make it easy to stream these services right to your TV.
Eat Out Less
Monitor how many times you’re eating lunch out at work, getting takeout or going out to eat for dinner, and buying coffee. It’s probably more than you would think and really hurting your wallet. Focus on bringing your own meal as much as possible and making coffee at home to go and you’ll see monthly expenses drop drastically.
It Adds Up
Consider each of these ways to save, a lot of money can be saved per month on average — as much as $300 in some cases! And that extra money can be used towards better areas for your Rental Management.
Brought to you by: Clark Simson Miller