Budgeting for Foundations of Real Estate Management
Monday, July 29, 2024
by: Annette Ahumada, Newmark Merrill

Section: Member News




As we start the third quarter of  2024, I'm taking stock of the foundation I've built and contemplating the new layers I can add. I've always believed in learning from the past to grow in the present, and in re-establishing positive habits to sustain momentum.

Back in 2016, a pivotal conversation with the communication committee leader at Boma encouraged me to share my journey as a property manager. I penned my first article for the Boma newsletter “Being a Property Manager was not what I intended to be”, and shared the first steps of my career path which began with education at Boma. The Foundation course, a 28-hour program spread over five weeks, marked my entry into comprehensive training.

At that time prior to enrollment, having just completed my second year as a property assistant, I had already started attending Boma luncheons. Interactions with contractors, managers, and committee leaders underscored the invaluable role of education. One memorable incident involved a tenant who vehemently criticized me and my team over the phone, despite our efforts to explain timelines and regulations. Frustrated, I reacted emotionally, which led to a sobering lesson from my manager on not taking such situations personally.

Recommended by Boma committee members, I enrolled in the Foundation course about a year later. The first day introduced me to peers from diverse backgrounds, all grappling with similar questions: How do you maintain professionalism in the face of personal attacks? What are TI and chiller systems? How do you construct a robust budget and excel as a property manager?

This journey has been transformative. Some of my classmates have become educators or remained active in the San Diego Boma Chapter. Whether you're a property assistant (PA), assistant property manager (APM), or aspiring to become a property manager yourself, I encourage starting with the Foundation Course.

By sharing my story, I aim to inspire others to invest in their professional growth through education. It's not just about acquiring knowledge but also about cultivating resilience and strategic thinking in the dynamic field of property management.

Looking ahead to 2025 and beyond, let's continue building on these foundations to propel our careers and organizations forward.