The Budgets Are Done The Floodgates Are About to Open.
I have looked at countless jobs, and given estimates for apartment community improvements over the last several months, knowing that the numbers were going to be used for budget purposes only. Many of those budgets have now been finalized. The calls to contractors have begun in many of the communities that I’ve visited. I’m sure that most apartment communities operate the same way.
The calls have already started to get competing bids for many property improvements. Now the bids are real, contractors are hustling to come up with winning numbers to get these contracts. Sometimes the bidding can be fierce, some jobs contractors won’t touch. But it looks like the floodgates are opening already for 2012.
This latest trend has been sparked in the Sacramento area, due in part, because of the continued warm, dry weather. In talking to contractors, supplier, and sales people; things are picking up quickly. I’m not saying that things are suddenly back to where they once were, but the trend toward apartment work is happening.
The leading areas of improvement appear to be in siding, energy improvements, interior renovations, and water damage repairs. The list can be much more extensive but these are the areas that have been talked about at great length in the conversations that I have had. The budgets include all projected expenses for the year, the trend deals with the capital improvements and repairs section of the budgets.
If the last few days are any indication, this should be an impressive start to the New Year.