A building budget is typically prepared on an annual basis and is structured around both OPEX (Operating Expenditures) and CAPEX (Capital Expenditures).
OPEX covers day-to-day operational costs such as maintenance, cleaning, security, utilities for common areas, insurance, and routine service contracts.
CAPEX covers long-term capital expenses such as major repairs, equipment replacements, lift modernization, and other significant works that preserve and enhance the asset over time. These are usually supported through reserve fund planning.
Proper budgeting and forecasting ensure financial stability, help control service charges, and protect the long-term value of the property. At Impact Estate, we conduct detailed cost analysis and building inspections to develop realistic budgets, select the most qualified vendors, and optimize costs without compromising service quality.