Advising on Short and Long-Term Impact

When clients request changes to the budget, property managers must advise them of the potential short and long-term implications. This includes discussing how requested changes may affect the financial health of the property, impact service levels, or defer planned maintenance projects. Property managers should provide clients with a comprehensive analysis of the proposed changes, including any associated risks or benefits, to help clients make informed decisions aligned with their long-term objectives.

While your client is ultimately responsible for the decisions they make, they have employed a managing agent and that managing agent must provide proper advice and guidance. This not only ensures that the agent is fulfilling their role, but it protects the agent if the client make a particularly risking amendment to the budget.