The Importance of Annual Planning in Strata Management
Strata Managers have a lot on their plates. With only a few thousand licensed managers and a constantly growing number of strata corporations, the workload is real. Between managing requests, addressing complaints, and handling the constant flow of admin tasks, it’s no wonder it sometimes feels like there’s no light at the end of the tunnel. But there’s a way to get a little ahead of the game: annual planning. Setting aside time once a year to map out the essentials can save time, hassle, and even money in the long run.
While annual planning may not always be the most exciting, it’s a game-changer for staying ahead. It’s about capturing the regular maintenance that every building needs – like window cleaning, carpet care, roof maintenance, and landscaping. It’s not just about being organized; it’s a smart approach to budgeting, transparency, and efficiency that pays off throughout the year.
Budgeting
Annual planning and budgeting go hand in hand. By understanding what’s coming up in the fiscal year, you can more accurately budget for known expenses. Now is the time to review multi-year contracts for any cost increases or termination clauses and to gather quotes for big projects like spring cleaning, gutter maintenance, and pressure washing. Even if the budget isn’t finalized yet, having these quotes helps prepare for what the building might spend on these necessary services.
Transparency
Owners appreciate knowing how their fees are used and what the impact of maintenance is on them. Sharing when windows will be washed or when inspections are scheduled helps reduce the number of emails and shows that management is on top of things. The more transparent and proactive the communication is, the smoother the process.
Time Saver
Let’s face it—everyone wants to save time. Putting in the effort to review contracts and arrange bids at the beginning of the year means you’re better prepared when the busy season arrives. While others might be scrambling to secure contractors, you’ll already have top choices at the best prices.
Putting It All Together
Annual plans don’t need to be complicated. A simple spreadsheet that outlines monthly maintenance tasks, key contracts, and important dates can be highly effective. Including contractor details and contract expiration dates makes next year’s planning easier. This information can be stored on the community’s online page, under documents, for even greater transparency, and maintenance can be mapped out on the community’s calendar. This way, owners know what to expect and can plan around crucial events.
In a portfolio of buildings, annual planning might seem overwhelming. However, contacting contractors for all properties simultaneously can streamline the process and keep things simple. Inputting annual maintenance into a spreadsheet and calendar is best done gradually; tackling a couple of properties at a time can make it feel manageable.
Consider timing these annual plans along with the first council meeting of the year. This way, the quotes can be presented for approval well in advance, leaving time for revisions if needed.
In the sometimes overwhelming world of strata management, annual planning is a valuable investment that keeps you a step ahead. By dedicating just a small amount of time each year, you can set yourself—and your portfolio—up for a smoother, more organized year. A well-thought-out annual plan isn’t just about ticking boxes; it’s a proactive approach that fosters transparency, saves time, and creates a strong foundation for successful management.
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