Reply: While preparing for budgets one question is fairly consistent no matter how it is asked: "What do you want?"

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Tawana Rowghani
I think improvements additions that add value to the asset will be approved over most asks. You make the decisions based on that. Hope it helps.
Posted 1 year 8 months ago
Mark Tanguay sounds like you need to have a fundamental conversation with whoever is making the budgets and how they get planned. It is either push a bunch of bullshit in there and then redirect the funds. Without some changes though you seriously need to look for a place that runs things sensibly.
Posted 1 year 8 months ago
That's part of the problem. If it was my own money, I wouldn't budget $1000 for something I know cost $1500, and I wouldn't buy new carpet because my refrigerator breaks, and if my shoes are getting worn out I wouldn't wait another year before setting money aside to buy new shoes, and I certainly wouldn't schedule for my car's check engine light to come on next June, and if my lights didn't work i wouldn't wait until it became more darker before replacing them, and i wouldn't replace half of my TV if it stopped working.
Posted 1 year 8 months ago
Pretend you owned the property and and you were spending your own money and you cared about what impact your spending had on the income it produces. This is the problem with most budgets is the people setting them don't understand what is going on at the bottom, and the people at the bottom putting in wishes and dreams aren't thinking about how it is going to impact the income long or short term.
Posted 1 year 8 months ago
Get bids on your "everything".Plug them into your budget, if you still net a profit at the end of the year, then ask for "everything". Don't forget to forecast rent increases to offset the expenses!
Posted 1 year 8 months ago
I always set the my budget for 100% of everything needs, wants and wishes.
Posted 1 year 8 months ago