One of the most important steps a self-managed condominium corporation can take to moderate condo fees is to create an operating plan or budget, thereby controling expenses.
On going property maintenance depends on adequate funding. This is important because it will increase or grow your condo's equity and property values. An Operating Budget and a multi year Reserve Plan/Budget will provide a financial guideline for the future.
A couple of months prior to your fiscal year end is a good time to give thought to beginning the budget process. A review of the year’s income and expenses to-date, with a projection of next year’s expenses, will permit you to formulate a budget plan for the upcoming year. In addition, a longer term review of the adequacy of your Reserve Fund balance should also be a part of the process.
It is important to note that budgeting is the best way to insure that future monthly contributions are both reasonable and adequate ...no owner likes unhappy surprises that involve large condo fee increases.
Condominium self-management is increasing in popularity as a method to significantly reduce condo fees and gain control over major issues. BENEFITS OF SELF-MANAGEMENT PROPERTY ACCOUNTING EXPERTISE Effectively reduce condo fees. Gain control over maintenance issues - contractor selection and supervision. Be more responsive to owner's issues. Control and manage operating costs. *Maintain control over an important asset - your home equity.
ACCOUNTING SERVICES FOR SELF-MANAGED CONDOMINIUM PROPERTIES
Today's board of directors are becoming more capable and confident in their ability to successfully conduct the daily affairs of their condominium community. Especially with expert accounting support and guidance. Boards are quite able to manage the day to day operations of their complex ie: the selection, hiring and supervising of maintenance contractors, and initiating general repairs.
With support from REH Condo Accounting you will receive daily bookkeeping, monthly financial statements, an annual Operating Budget, and a multi year Reserve Fund Plan/Budget. This will enable the board of directors to operate within a well thought out financial framework, thereby controlling costs. Monthly financial statements compared to budget will enable the board to track their progress throughout the year.
The availability of experienced accounting and administrative resources from REH Condo Accounting can be a key contributor to the success of a volunteer board of directors in the management of their community.
You will find our fees very reasonable, and completely flexible with the unique needs of each client. Please contact us to discuss your situation and to receive a quote.
We focus on smaller condominium properties, and all have been extremely pleased with the improved management and operating results experienced by their properties. References are available on request.
If your condominium complex is self-managed, or considering moving to self-management, we would be pleased to help and offer our guidance.
REH Condo Accounting
REH Business Solutions
Phone: (403) 922-3406
Condominium self-management is increasing in popularity as a method to significantly reduce condo fees and gain control over major issues.
BENEFITS OF SELF-MANAGEMENT
PROPERTY ACCOUNTING EXPERTISE
Effectively reduce condo fees.
Gain control over maintenance issues - contractor selection and supervision.
Be more responsive to owner's issues.
Control and manage operating costs.
*Maintain control over an important asset - your home equity.