Budget Development

Perhaps the most sensitive orchestration is played out in the budget development process. How should costs be allocated between the homeowners' association and the other invested parties with respect to the licensed areas and rental program? We work through this process by first establishing the developer’s goals and mission statement, which, while it may be primarily motivated by the bottom line, also includes other incentives such as political, environmental, and/or other related project issues (happy buyers invest at other projects).

The process continues into the review of the condo map and the reading of the condo documentation to ensure correct allocation of expense categories within the guidelines of the CC&Rs, and the license and unit maintenance agreements.