Thinking Beyond One Year

Effective long-term financial planning requires property managers to think beyond the immediate year and consider the broader financial landscape. Large-scale projects, such as major refurbishments, structural repairs, or capital improvements, often require long lead times and substantial financial resources. By thinking in the long term, property managers can proactively plan for these projects, allocate resources strategically, and avoid financial strain.

If you keep your head down and only ever plan for the yeah ahead you will be caught incredibly short when the building requires large scale work. These works shouldn’t really come as a surprise to anyone so they should be planned well in advance and money collected (if the lease allows) over the long-terms to ease the financial burden.