Almost two years after CondoWonk reported that a little-known electric rate could lower HOA common area electric bills, an LADWP spokesperson acknowledges that its website provides no information. Instead, LADWP’s website refers only to a residential rate that causes bills to spike in the summertime.
Condominiums may save money on common area electricity by switching rates, but LADWP’s website won’t tell you about it. This article, a companion to LADWP Electricity Rates: One that may Save your HOA Money is Still Secret, gives step-by-step instructions for switching rates.
Most condo units for sale in Los Angeles are in buildings that are more than 30 years old. They may offer nicely remodeled units with generous space, but older buildings need more maintenance. Here’s advice on issues buyers are likely to find while shopping for a condo unit in older buildings.
Given the reality of multi-million-dollar deductibles that may exceed actual damages, even HOAs that carry expensive earthquake policies may not have meaningful coverage. Boards can consider dropping the coverage—if their CC&Rs let them.
Replacing common area lighting with energy-efficient, long-lasting LEDs can save HOAs significant money on electricity and replacement, with a quick payback and improved appearance. LADWP’s Commercial Direct Install program may replace some lighting for free.
Organics recycling is now mandatory in California, including for condo buildings. Your waste hauler’s rules may offer a less messy method for compliance.
Why is one condo’s monthly dues so much higher than another’s? Taking a hard look at the budget can produce some savings, but differences between buildings and the types of insurance, amenities, utility metering and services lead to inherently different costs.