Budget Items (Noun)
Meaning
The expense of maintaining property (e.g., paying property taxes and utilities and insurance); it does not include depreciation or the cost of financing or income taxes.
Classification
Nouns denoting possession and transfer of possession.
Examples
- Budget items for maintaining the property include mortgage payments, property taxes, and insurance premiums.
- Property managers carefully track and manage the various budget items for the residential complex to stay within the allotted expenses.
- Annual budget items such as utilities, maintenance, and repairs can vary significantly depending on the property type and location.
- Budget items like lawn care and pest control services can be contracted out to external providers or handled in-house.
- Regular review of budget items for property upkeep can help identify areas where costs can be reduced or optimized.