Trick or Treat?

How to Tell if Your Building’s Budget is a Sweet Deal or a Scary Surprise

October is the season of ghosts, goblins, and sweet treats—but for many condominium boards, the scariest thing of all might be hiding in plain sight: the budget.

Just like a bag of Halloween candy, budgets can contain both delightful surprises and a few unpleasant tricks. The key is knowing how to tell the difference before it’s too late.

The Treats: Signs of a Healthy Budget

• Well-Funded Reserves
  A properly funded reserve account is the ultimate full-sized candy bar. It means your building is prepared for major projects without shocking residents with special assessments.

• Transparent Reporting
  Clear, timely financial reports help everyone see where money is going. No smoke, no mirrors—just honest accounting.

• Planned Capital Projects
  A sweet budget includes line items for upcoming repairs and improvements. When projects are anticipated and funded, they’re a treat for the entire community.

The Tricks: Red Flags to Watch Out For

• Deferred Maintenance
  That tiny roof leak or outdated boiler might look harmless today, but like a jump scare in a horror movie, it can suddenly turn into a very expensive emergency.

• Empty Reserves
  If your reserve study hasn’t been updated—or worse, isn’t being used—your building could be one surprise away from a financial fright.

• Last-Minute Assessments
  Nothing sends shivers down residents’ spines like a sudden, unexpected bill. These “tricks” usually point back to poor planning.

How BRIGS Helps You Avoid the Tricks

At BRIGS, we believe every community deserves more treats than tricks. Our Living Reserve Study Team keeps financial planning current and dynamic, so you’re never caught off guard by what’s lurking around the corner. And our Project Management Team ensures capital projects are executed smoothly, without the jump scares.

When boards have the right information and support, budgets stop being scary—and start working like the sweetest treat of all: peace of mind.

Don’t get tricked this fall.
Contact BRIGS to learn how our Living Reserve Study and Project Management services can turn your property’s financial future into something you’ll be glad to unwrap.