Tips for Financial Planning in Community Schemes
Effective financial planning is crucial for ensuring your Community Scheme remains financially viable and well-maintained.
Here are a few key steps to keep your finances on track:
- Drafting Realistic Budgets – Account for all expenses and make provisions for future costs like maintenance and upgrades.
- Regular Levy Reviews – Ensure levies reflect the true cost of running the Scheme while keeping residents’ needs in mind.
- Transparent Financial Reporting – Keep owners informed and involved in decision-making by providing clear financial statements.
Strong financial planning ensures that your Scheme stays solvent and well-maintained, which, in turn, maintains property values and quality of life. With our expertise, your Scheme’s finances will be in safe hands.
Empowering The Body Corporate: 8 Steps To A Strong Administrative Fund Budget
Read this before preparing a maintenance, repair and replacement plan