Breaking the Budget Code

Budget shortfalls are a nightmare. But manipulating the numbers to create artificially low assessments or maintenance increases can have even worse consequences in the long run. Kyle Gregory, managing member and operating partner of New Way Management, explains how boards can successfully manage their building finances without falling into common traps. Gaming operating costs might be tempting, but ultimately it can damage potential sales and create distrust among buyers. Gregory offers sophisticated approaches to addressing budget deficits, and addresses the long-term consequences of short-term financial maneuvers. Habitat's Emily Myers conducts the interview.How To Run Your Building: For Co-ops and Condos