As a property manager or HOA owner/member, you have lots of responsibilities to deal with daily! It’s understandable that some tasks are pushed to the back burner while taking care of other, more pressing needs. One of your many responsibilities includes painting your HOA or multi-family units. While this can be a large expense, it only gets larger if you delay getting this project completed. Maintaining a regular painting schedule keeps this cost from getting out of hand. Here are a couple of important reasons to schedule your HOA painting project on time and to keep a regular schedule in the future.
Curb appeal. We’ve all heard it and most of us understand the importance of developing it and maintaining it. It doesn’t take much to deter a potential client from doing business with you if your maintenance appears to be lacking. The first and easiest indicator for the layperson to gauge this would be the exterior paint since that’s what they see first. A recent article points out that, “no one wants to walk into a store with dusty windows or peeling paint, so stay on top of general maintenance tasks.” No amount of interior upgrades or amenities will make a difference if your building’s exterior scares away the people you need to do business with!
What’s the number one reason that people put projects off? It’s typically money. Putting off regular maintenance painting projects rarely saves money. In fact, it tends to cost you more in the long run due to increased repair costs and associated inflation. The increase comes from additional labor needed to make those repairs, along with any hard costs associated with repair materials. Not only will it take more labor to repair the overdue surfaces, but labor and material cost will increase thanks to normal inflation. Putting off a $100,000 painting project just one year with 2% inflation will cost you an additional $2,000 just by waiting one year. That’s assuming no repairs are needed.
These are just a couple of important reasons to maintain your regularly scheduled painting maintenance interval. Keeping your HOA looking it’s best will save you money in the long run and help you make money in the short term!