Property Manager how-to
How to Prepare a Property Budget
Budgets guide spending and owner expectations.
Quick answer
Budgets guide spending and owner expectations. In short: review; forecast; estimate, then complete the remaining steps below.
Step by step
Review last year’s income and expenses.
Forecast occupancy and rent changes.
Estimate operating expenses.
Plan capital projects.
Calculate net operating income.
Present the budget to the owner.
Safety reminders for property managers
- Follow fair housing laws in every interaction
- Address safety hazards promptly
- Use caution entering units and follow notice rules
- Know emergency procedures for fires, floods and storms
Key terms
Occupancy rate · Lease · Security deposit · Fair Housing Act · Delinquency · Make-ready: see the full property manager glossary.