Budget of Property Administrator
In the field of horizontal property, the budget of the property manager is a fundamental issue to ensure the proper functioning of the communities of owners. As property managers, we focus on the daily management of the properties, but we must also take into account the budget of annual expenses and income in the community of owners to ensure that the objectives are met and the needs of the owners are satisfied.
The property manager’s budget is a financial plan that is used to manage the income and expenses of the community of owners, related to the management of the property, such as…
Maintenance expenses: repairs, painting, cleaning, etc.
Utility expenses: water, electricity, gas, elevators, etc.
Personnel costs: cleaning, community employees, etc.
Management expenses: taxes, insurance, etc.
Income: owner’s fees, rents, etc.
How do we prepare a budget for the community of neighbors?
Preparing a property manager’s budget is an important process that requires careful planning and constant follow-up. Here are the steps to prepare an effective budget:
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1. Analysis of the income: the income of the community of owners, such as owners’ fees, rents, etc., must be analyzed.
2. Analysis of the expenses: the expenses of the community of owners should be analyzed, such as maintenance, services, personnel, etc.
3. Establish objectives: clear objectives should be established for the owners’ association, such as improving the quality of life of the owners, reducing costs, etc.
4. Create a financial plan: a financial plan should be created that includes income and expenses, and a monitoring and control system should be established.
5. Review and adjust: The budget should be reviewed and adjusted regularly to ensure that the objectives are being met and the owners’ needs are being met.
6. Grants: Study the convenience of carrying out a work or installation project in the community…
Importance of the budget of property manager
The budget of the property manager is fundamental to guarantee the good operation of the community of owners. By having a clear and well-structured budget, it is possible to:
Improve farm management: with a clear budget, informed decisions are made and farm management can be improved.
Reduce costs: with a well-structured budget, opportunities to reduce costs and improve efficiency are identified.
Improve landowner satisfaction: having a clear and well-structured budget improves landowner satisfaction.
Conclusion
The budget of the property manager is a fundamental element to guarantee the good operation of the community of owners. By having a clear and well-structured budget, the management of the community property is improved, costs are reduced and the satisfaction of the neighbors is improved.
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Lorenzo Calero López
Graduado en Estudios Inmobiliarios
Admón. de Fincas Colegiado
More information about this article
The content of this article is indicative, also from time to time are born jurisprudence and laws change, if you need any updated or specific consultation on this topic published, tell us What is?…, we will inform you without obligation 
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