Tips and Tools on Budgeting in a New Environment
Budget preparation is a process of making intelligent assumptions about expectations for the coming year. 2020 and 2021 are unlike any period in history making it difficult to plan. Since no one can accurately predict when building occupancy and operations will ‘return to normal’, managers must take a consistent approach with clearly stated budget assumptions.
This guide is intended to help raise and answer questions regarding assumptions for your 2021 Budget and 2020 Projections. We hope this guide will help you prepare your initial budget detail package to obtain client/owner- approval.
In this webinar, you will learn about:
1. Unpredictable rent and parking revenues
2. Operating expense recoveries with unpredictable occupancies
3. How to treat 2020 Base Years
4. Variable expenses like utilities and cleaning
5. Who gets the savings or cost increases- tenant or landlord?
General Manager, Constellation Place, LLC
Jodi Talentino has over 30 years of experience in the operation and management of commercial real estate in Los Angeles. She is the General Manager at Constellation Place and has managed the property since it opened in 2003. Jodi serves on the Board and Executive Committee of the Century City Chamber of Commerce and on the Board of the Century City Business Improvement District. She is also active in BOMA/GLA. Jodi holds a B.B.A. from The George Washington University and an RPA designation.
Vice President, Property Management, Hines
Brian Plymell is Vice President-Management Services for Hines’ 14 million sf portfolio in Southern California where he also serves as Regional Advocate for Diversity, Equity and Inclusion. He has contributed to a countless number of budgets in his twenty-seven years with Hines and is a member of the BOMA/GLA Past Chairperson Committee.