In anticipation of the New Year, we at J & H have been working on budgets to guide us through 2024. Unlike the more personal New Year’s Resolutions, we don’t get a second chance to get it right. It’s not like a diet or exercise program that we can ignore when the going gets a little tough and simply restart at the beginning of the following week or month.
Like a resolution, we start by taking stock of what is needed at a particular property, research the project and cost, and then plan how to best finance needed projects and purchases within the funds that will be available. Many expenses are annually reoccurring, while others are what we deem to be medium range (two or three years), and others may be five years, requiring specially earmarked savings. Pool renovations, street repairs and sealing, underground utility replacement, painting of buildings, and fencing or wall replacements are all longer-range projects that require detailed planning and saving.
Our onsite managers, assistant property managers, and property managers have been hard at work inspecting streets, buildings, streetlights, and more at our client properties. The information gathered by our team creates the basis for the planning of short-, medium–, and long-term project planning.
In addition, this year, Hector Cruz, our Southern California Field Supervisor, has been independently visiting the properties and acting as another set of eyes to identify the needs of each property. Hector is a pro at site inspections for capital improvements, safety compliance, and utility conversions.
All these value-added activities, in addition to the CalOsha inspections and training spearheaded by Bob Pacelli, our OSHA Safety Director, keep us on our toes for the benefit of our clients and their residents. Bob ensures safety compliance, provides training supervision to all parks, and works with OSHA compliance and reporting.
We also encourage clients to look at their community amenities. Maybe it’s time to upgrade and make some changes. This is a good opportunity to walk your communities and relay any recommendations for next year’s budget. Make sure that you conduct frequent inspections for cosmetic and safety improvements to the community to enhance the aesthetic appeal of the property while always addressing any safety concerns before they become a problem.
We look forward to another productive year partnering with our clients to give the best property management experience and the highest return on investment possible.