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Budgeting Process

Learn about the process many boards follow to develop operating budgets, how effective they are, who is involved and what is included.

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FirstService Residential is North America’s property management leader, partnering with more than 8,500 communities across the U.S. and Canada. HOAs, community associations, condos and strata corporations rely on our extensive experience, resources and local expertise to maximize their property values and enhance their residents’ lifestyles. Dedicated to making a difference, every day, we go above and beyond to deliver exceptional service.

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Board Member Education

Search our archives to read articles about the topics that matter most to you: budgeting, communication, insurance, preventive maintenance, building community and more!

July 26, 2021
A property manager’s role is a unique one; it requires answering the needs of residents, while supporting the association’s board and working to ensure your community’s operational success.
Effective Training: The Development of a Successful Property Manager
May 21, 2021
For board members, special assessments are typically unwelcome necessities. They are primarily needed because reserves have been underfunded and must be supplemented to pay for large capital projects such as replacing roofs or mechanical equipment.
Association Special Assessments: How to Avoid Them
April 26, 2021
As a board member, one of your top responsibilities is to maintain and improve your community’s physical property. But it can be tricky to budget for new amenities like a dog park or gate houses, or shared, common-area assets that will need to be replaced or upgraded years down the line such as roofing or building facades.
Association Reserve Funding Strategies: Ensuring Your Budget's Success
March 08, 2021
Since you’ve generously offered your valuable time to serve on your HOA board, you no doubt have your community’s best interests in mind and want to put forth your best effort.
9 Ways to Improve Board Communication from Within
February 12, 2021
Effective communication fosters better relationships among board members, your residents and property management company, and keeps all parties well informed. Here are the 4 components of a successful communication plan that create effective outreach to all members of your community.
Connecting with Your Community: Communication Best Practices
December 15, 2020
Sooner or later, most community associations face staff changes. If your community has a great manager, you probably want them to stay forever. But how realistic is that?
Property Management Transitions: Smooth Staff Changes
October 12, 2020
Maintaining your buildings’ assets is not a one-size-fits-all proposition. The common areas require a broad range of routine maintenance and repairs to keep them looking good and operating smoothly.
Maintenance and Repairs vs. Capital Improvements – What’s the Difference?
July 15, 2020
Developing a comprehensive HOA communications strategy during this pandemic will help your board members and management team inform the community in a timely manner.
 
Coronavirus HOA Communications Strategies to Residents
July 05, 2020
Keeping Your Budget Healthy in the Age of COVID-19
June 24, 2020
Learn how community members are making a difference in their communities with socially distant celebrations during COVID-19 spring holidays.
Socially Distant Celebration During COVID-19
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Successful Management Company Transitions – Expectations vs. Reality
Budget & Assessments

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