Get expert tips for building your property management budget

Your budget is everything to your community association!

A well-crafted property management budget determines the social activities you can provide, the maintenance you undertake, the capital improvements you embark upon and more. Your ability to increase your property values, deliver exceptional service to your community, improve security, minimize the risks to your association and enhance your residents’ lifestyles all hinge on making the most of your budget. We understand that budgeting can be a daunting task, but it doesn’t have to be.

Check out the articles below for information on all the things that go into a successful budget and how to keep your association on sound financial footing all year long.
 

HOA budget planning and financial management resources:

• Creating the best HOA budget: A step-by-step guide
   
• Understanding community financials and HOA financial statements

When it comes to planning your next annual budget, there are a lot of factors to consider. You need to prioritize what matters to your community, look at least three years ahead and carefully consider your reserves, expenses and income.

Our easy-to-follow budgeting checklist provides thirteen, simple steps to develop an effective budget for your association. Learn how to execute an efficient process and what to examine including your:

• Expenses
   
• Reserves
   
• Utilities
   
• Insurance coverage
   
• Maintenance plan

To learn how a professional management company like FirstService Residential can support your community, contact a member of our team.