Multi-Schedule Budgeting

Some leases and developments call for a budget that is a bit more sophisticated than a list of services and an annual cost for each. This is where you will need a budget with multiple schedules. There are various reasons why more than one schedule could be needed but generally speaking, it is to charge leaseholders only for the services they have the use of. For example, there may be two blocks on a development and you have a budget with three schedules

• Block 1 – services which only Block 1 receives. Think cleaning, repairs, utilities etc.
• Block 2 – as per Block 1, but this time only for Block 2.
• Shared Costs – This could be the shared grounds, administration costs etc.

Remember even if you think a development would benefit from a multi-schedule budget (and many would) you must ensure that the lease allows you to do so first. Look at the potential lease options below and decide if a multi-schedule budget could be appropriate.