Getting your budget right

Maintenance and Upkeep Budget

Budgets for regular maintenance/upkeep are built inline with the conditions imposed by the development lease or transfer.

This defines the requirements needed and multiple contractors are invited to quote for the service needed.

PBM always suggest that regular reviews are undertaken to ensure best value and service are maintained. 

Reserves Sink Funds

Reserves are produced inline with Government inflation indices and expected construction life cycles. This gives realistic future expenditure, tailored to the individual development.

All service charge budgets are approved By Directors/Landlords prior to issuing demands. The level of involvement in this process can be matched to individual requirements
Keeping track of your money 

Monthly Financial Reports

All Directors receive email or hard copy monthly reports on the financial position of the Management Company.

The reports are built to give a direct comparison of budgeted cost against ongoing actual expenditure.

Thus giving a real time view of any under or over spends, allowing corrective action to be taken during the year. 

End of year statements

PBM believe end of year statements are essential in producing a realistic budget by highlighting expected expenditure against actual. 

Bank Accounts

Inline with ARMA/RICS and current best practice PBM ensure reserve monies are held in separate bank accounts to general service charge funds