📅 Budget Season: How We Build Your Annual Block Budget and Why Levels Property Management Takes a Proactive Approach

Joy Davies
May 9
3 min read

Updated: Jun 30

Every year, like clockwork, something important happens behind the scenes of your development: budget season.

While it may not be as exciting as holiday season, it’s just as essential. At Levels Property Management, we treat your annual block budget as more than a spreadsheet — it's a strategic plan to keep your home running smoothly, safely, and cost-effectively.

Let’s break down what budget season really involves, and how our proactive, transparent approach makes all the difference.

🧾 What is Budget Season?

Budget season is the time of year when your managing agent prepares the next year’s service charge budget — estimating how much it will cost to manage and maintain your building or estate.

This includes everything from:

Cleaning and gardening
Repairs and maintenance
Insurance
Fire safety checks
Reserve fund planning
Utilities and lift servicing
Management fees

Once finalised, this budget is shared with leaseholders and sets the basis for your service charge demands for the coming year.

🛠️ How We Build Your Budget — The Levels Way

At Levels, we take a proactive, data-led, and collaborative approach to budget setting.

Here's how we ensure your budget is realistic, fair, and future-proofed:

1. Historical Analysis

We don’t just pull numbers from thin air. We analyse previous years' costs and trends to identify:

Patterns of overspend or underspend
Areas where savings can be made
Recurring maintenance issues that need addressing

2. Supplier Reviews & Cost Forecasting

We review current supplier contracts and obtain competitive quotes where needed — making sure you’re getting the best value for money without compromising quality.

3. Site Inspections and Planning

Our Property Managers conduct on-site inspections to identify any upcoming works or repairs. This helps us budget not just for known costs, but also likely future ones, avoiding nasty surprises mid-year.

4. Collaboration with Directors and RMCs

If your block is managed by a Resident Management Company (RMC) or RTM, we work closely with directors to agree the draft budget — providing full transparency and expert advice every step of the way.

5. Incorporating Reserve Fund Strategy

We don’t just plan for the next 12 months — we take the long view. By working with surveyors and using lifecycle cost planning, we ensure reserve contributions are realistic and match the future needs of your building.

6. Clear, Resident-Friendly Budget Packs

Once approved, we issue budget summaries with easy-to-read breakdowns, so every leaseholder understands:

What they’re paying
Why it’s needed
How it was calculated

No jargon. No ambiguity. Just clear, confident budgeting.

🚀 Why a Proactive Approach Matters

Many managing agents set budgets reactively — waiting until problems appear before increasing costs. At Levels, we believe prevention is better than cure.

Our proactive approach means:

Fewer mid-year shortfalls or surprise levies
Better cost control through early contractor planning
Longer-term value for residents and property owners
Greater trust through transparency and communication

💬 Empowering Residents Through Clarity

We know service charges are a sensitive topic. That’s why we take the time to educate and explain, whether through resident meetings, online FAQs, or one-on-one support. Our goal? To ensure every leaseholder feels informed, respected, and heard.

📈 Budgeting With Integrity, Innovation, and Foresight

At Levels Property Management, budget season isn’t just a task on our calendar — it’s a vital opportunity to plan, protect, and improve your home.

With our blend of professional insight, technology, and proactive thinking, we deliver budgets that make sense — and deliver results.

Want to see how your development could benefit from a more transparent and strategic approach to budgeting? 📞 Contact Levels Property Management today — and let’s build better together.