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It’s Budget Season! Now What?



As a
n Association Manager, one of our most critical responsibilities is helping our Boards prepare a sound, forward-thinking budget. A well-prepared budget not only ensures the financial health of the community, but also reflects a proactive approach to long-term planning, maintenance, and homeowner satisfaction. The budgeting process may seem daunting, but with the right structure and a bit of prep, it becomes an opportunity to add real value and lead your Board through another successful year of management.
 

Here are some of the essential steps for creating an effective budget for your HOA or condo association: 

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HOA Budgets and Landscaping



Investing the time to find the right landscaping partner during budget season.

There is a financial aspect, as landscaping often eats up a large portion of the HOA’s budget, and the quality of that service directly impacts residents’ satisfaction and the property's overall value. Landscaping can represent a significant percentage of the total HOA budget, with estimates ranging from 25% to 75% depending on community size and expectations.

Investing the time to choose the right vendor, who not only fits the budget but aligns with the community’s values, can save headaches down the line. It’s about finding the right balance of cost, quality, and reliability. By carefully planning the budget and following a structured process for selecting and managing landscaping vendors, HOAs can ensure their communities remain beautiful and well-maintained while also safeguarding their financial well-being.


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Mid-Year Review: Assessing and Adjusting Your Community Management Strategy

As we reach the midpoint of the year, it’s the perfect time to take stock of our community management efforts. A mid-year review is essential for evaluating our progress, identifying areas for improvement, and refining our strategies to ensure we meet our goals for the second half of the year. Here’s a comprehensive guide to help you assess and adjust your community management strategy effectively.

1. Conduct a Performance Review

Start by analyzing the key performance indicators (KPIs) you set at the beginning of the year. These may include metrics such as:

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How to Avoid Burnout

Burnout is more than just stress—it’s how your mind and your body tell you a change is needed. Do you find yourself withdrawing from work and caring less about results? Are you working harder, often mechanically or to the point of exhaustion? Just going through the motions? Try a few of these tips for keeping burnout at bay.

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What's Your Annual Plan?

What’s your annual plan?

As we begin another year, it’s important for associations and their business partners to have a clear understanding of what the coming year will look like. What are our goals? What strategies will we use to reach those goals? Did we meet the goals we had for the past year? Without a mechanism in place like an annual plan, it’s almost impossible for an association or business to know where they’ve been and where they’re going. The inclusion of an annual plan can help take the guesswork out of the process.

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Time Management...Is It Really That Easy?

Finding a strategy for time management depends on your level of self-discipline and most importantly your personality. If you incorporate some or all of the strategies, you can manage your time more effectively.  You may wish for more time, but you only get 24 hours, 1,440 minutes, or 86,400 seconds each day.  How you use this time will depend on the skills you have learned.

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