Property managers responsible for budget management often have the task of deciding what to do with unused budget money at the end of a fiscal year.  Spending unused budget money wisely can avoid budget cuts for the following year and enhance the overall quality of the properties under their management.

Property managers can use unused budget funds to invest in property maintenance and improvement projects, which, in turn, can extend the life of assets, improve property value, prevent depreciation, and increase tenant satisfaction. Satisfied tenants are more likely to renew leases, offer referrals, and collaborate with property management in maintaining the property. Here are some ways to enhance a building’s aesthetics:

  1. Eliminate elevator scratches or blemishes with a refinishing service.
  2. Change the appearance of metal substrates with a custom patina application or a specialized coating.
  3. Touch-up faded or damaged wood trim and surfaces.
  4. Refinish a stone floor.
  5. Perform a deep clean on tile flooring.
  6. Opt for an escalator cleaning.

It’s essential for property managers to follow their organization’s financial policies and budgeting guidelines when deciding how to use unused funds, as different organizations may have specific rules and restrictions on this matter. Please don’t hesitate to contact for a complimentary consultation on how you can enhance your property!