I accidentally hit the "send" key too soon, sorry. More ways to keep maintenance down...

FIRST - Find ways to save money:

1) Read monthly reports and question costs for messengers, paper/stationery, postage, supplies and "miscellaneous". A lot of excess gets buried under "miscellaneous".

2) Turn off lights in places that don't need them 24 hrs a day - laundry room, storage rooms. If the lobby's bright enough, you don't need a lot of lamps on during the day.

3) Save on paper/printing by not distributing every memo to every unit. Maybe some can just be posted in the mailroom or lobby, or by the elevator on each floor. Save on postage by putting letters under doors instead of mailing them.

4) Eliminate unneeded phone/fax lines. Most documents can be e-mailed now instead of faxed. Pay only basic charges + a maximum amount on calls for super and maint staff phones. If they frequently call relatives/friends out-of-state or out-of-country, why should the coop pay for all that?

SECOND - Find other ways to raise money:

1) If you have fines/penalties for not adhering to coop rules or policies, bill owners for them! Don't go overboard but a lot of money is lost this way. And be sure to check monthly reports to make sure they've been billed.

2) Consider putting in a candy or laundry product machine as sources for income. A soda machine, especially where moving/delivery men and Fed Ex/UPS men pass through, can bring in a good chunk of change, especially in summertime and in large buildings.

3) If you allow subletting, what's your sublet fee? A lot of buildings let this go for years without increasing it. Standard today in many coops is a fee equal to 2 months maint for a new sublet and 1 month maint for a renewal.

4) Enact what buildings call a "coop administration fee" or "administrative transfer fee" on unit sales. A flip tax requires shareholder vote/approval, but this only requires a board resolution (double check this with your attorney!). Typical fee is equal to 4 months maint (2 paid by seller, 2 paid by buyer) at closing, and the board can decide where it goes - for operating costs or reserves.

5) Re-evaluate if coop money markets or other investments are in the best places earning the most money.

Maint inevitably has to go up, but there are ways to save and/or raise money if you keep alert to them.