Wise Investment.


Strong Return. How to Create a Maintenance Plan for Your Community


I


t takes an investment of time and resources to put together a thorough maintenance plan. The good news is that you’re already well


on the way if you leverage the information and professionals that helped form your operating budget and reserve study.


In preparing for this article one of my dictionary lookups indicated there is virtually no difference between ”preventive” and ”preventative” maintenance. Both words are adjectives that mean ”used to stop something bad from happening.”


Maintenance is often viewed as a burdensome chore or elective expense that can be deferred to save money.


24 Community Associations Journal | September 2022


— By Jim Talaga, RS, President of Association Reserves, WA — The Value of Maintenance


Maintenance is often viewed as a burdensome chore or elective expense that can be deferred to save money. The opposite is true: a well-conceived and executed maintenance plan stops something bad (lower values, exponentially higher repair & replacement costs, unhappy owners) and makes you money, whereas deferred maintenance costs you money. Our studies of large west coast markets including the Puget Sound region indicate about a 12% higher sales price in community associations that are well maintained and funded compared to other communities in their market with insufficient maintenance and low reserves.


Maintaining your community is a wise investment with a strong return.


Maintenance of your community is a wise investment with a strong return. Be consistent—owners in a community


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