An Investigation of the Budgeting Function in the Management of Commercial Buildings in Nairobi

Abstract

There are several reasons why people invest in real estate chief among them being profit maximization. Due to the complexity of the property market, property owners usually engage the services of property managers, be they in-house employed or out-sourced, with the hope that these managers will help the investors in the attainment of their goals. The properly management duties are many and diverse but most important during the performance of these duties is ensuring that the goals and objectives of the property owners are met. With profit maximization being the primary goal of many property owners, the property managers are usually called upqn to manage the funds emanating from the respective properties. Property managers are therefore usually called upon not to only prepare periodical budgets but also to practice proper budgetary control in order to adequately manage the funds emanating from the properties for which they are responsible, thus the significance of this study