Market conditions shift rapidly, requiring property managers to adapt their financial planning. This session will explore best practices for reforecasting budgets, adjusting to economic fluctuations, and maintaining financial stability. Learn how to anticipate challenges and make data-driven decisions.
Learning Objectives:
1. Differentiate between budgeting, reforecasting, and recasting to understand when and how each method should be applied.
2. Learn the step-by-step process of preparing and executing a reforecast, including key data sources, timing strategies, and practical tools.
3. Understand the implications of reforecasting on property performance metrics, and how to communicate these changes effectively to stakeholders.
4. Identify key things to consider during the reforecasting process that will help evaluate the impact of changes and determine appropriate adjustments for future performance.
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