A Budget by Area lets you allocate property expenses across tenants based on area size or tenancy percentages. Once created, the budget sits in draft status ready for review and approval.
Step 1: Enter Budget Details
Navigate to the property and click the Outgoings tab.
Click New Budget By Area.
Fill in the required fields: Title, Start and End Dates, optional Notes, Tax Basis (Net or Gross), and Income Codes for Tenancy Income, Owner Contributions, and Balancing Charges.
Step 2: Select Areas to Include
Search for specific areas or toggle the view to show/hide excluded or non-lettable areas.
Use the include/exclude functions to manage which areas form part of the budget.
Edit individual area details if needed.
Step 3: Create Budget Schedules
Every budget requires at least one schedule to group expense codes.
Set the schedule title and choose an allocation basis — floor area percentage or tenancy percentages.
Allocate percentages for each area. The total must add up to 100%, with any remainder marked as Non-Recoverable.
Adjust the tax basis at schedule level if needed.
Step 4: Assign Accounts
Add expense accounts to the schedule. An account won't appear if already included in an overlapping budget for the same property.
Enter budgeted costs and refine area allocations per expense account if needed.
Save and create additional schedules or finalise the budget.
After completing these steps the budget is in Draft status, ready for review before approval.
Creating a Budget by Area for a Property Group
Property groups allow budgets spanning multiple properties — useful for estates and blocks with shared common areas. The steps are the same, with the addition of pooling areas across properties.
Note: You cannot create a budget for a property group if any individual property already has an existing budget. To include common areas from a general property, set Hide Excluded to No when selecting areas.
Budget by Area is referred to as Budgeted Outgoings in Asia-Pacific, Service Charge in Europe, and Operating Expenses in North America. For more information on regional terminology, see our Glossary of Regional Terminology.