Providing Appropriate Information

To facilitate informed decision-making, property managers should provide clients with comprehensive information about the proposed budget. This includes presenting a draft budget detailing projected income and expenses, highlighting any significant variances from the previous year, and providing actual expenditure data for reference. Additionally, property managers should include relevant quotes for planned expenditures, the capital expenditure (CAPEX) plan outlining long-term projects, and any other pertinent documentation to support budgetary decisions.

You want to ensure that your client fully understands your plan and is on board with the direction you plan on taking for both short and long term maintenance and the levels of funding they require. Essentially, if you are making radical changes to the budget, ensuring the client supports you will ensure you can communicate with leaseholders from a position of confidence.