Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Morris Neal, RA

As a property owner, the day-to-day operation of your building has many moving parts. While most of the actions you will take will be reactionary, being proactive and prepared may be your best line of defense. Looking back on the previous year, you may have incurred some unanticipated maintenance expenses that required you to adjust your budget, creating deficiencies in other areas.  Creating a detailed and realistic facilities budget for the future can keep your facility running at its fullest functioning potential, also saving you time and money. In addition, if you are looking to acquire a property, lenders will want an itemized forecast of your facilities budget.  Owners who plan strategically can be more flexible and better prepared when selecting a future site.

First Things First

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.