Business Plan – Draft Budget for the Coming Year
The budget of a home owner association (HOA) is known as business plan. The manager compiles it by listing all anticipated revenues and expenditures for the year to come, including a breakdown of the costs for each owner. The business plan moreover specifies the share of the condominium fee that is set aside for the maintenance reserve. Also, the business plan is the basis for assessing the amount of the condominium fee. If a given home owner association has appointed an administrative advisory board, it will audit the business plan. Finally, the business plan must be approved by the meeting of owners to become effective.
Whether Prior to an Acquisition...
Even ahead of an acquisition, the Accentro Real Estate Encyclopaedia offers interesting facts and decision guidance: We will coach you through the first steps on your path to homeownership. For instance, it provides information on the process flow of a condominium purchase. It will also tell you what sort of documents you need in order to buy property, and where to obtain them.
... or after – Our Real Estate Encyclopaedia Provides the Answers You Need
Once you have bought a property, you may wonder who is going to manage your condo and how. After all, caretaking your property is one of your main obligations as a condominium owner. In addition to numerous tips and suggestions, you will find answers here to many questions involving the property management subject, such as: What does “individual freehold ownership” mean? What exactly do “condominium regulations” govern? And what does the term “condominium fee” imply? In addition, we elaborate subtle differences between terms such as “real estate management” and “corporate real estate management.”
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