The idea of Condo Business Intelligence was inspired by our personal experiences with condominium issues.
Our inquiries were abundant, especially regarding the Condo Maintenance Fee, which we saw increase annually by 4-8%, a stark contrast to the 1.5-2.5% inflation rate.
Additionally, a water leakage issue in our unit led to a quote from a Condo Servicing Contractor for a four-day repair costing $5000. Astonishingly, the owner resolved the issue in just an hour at a mere cost of $50.
Furthermore, unforeseen condo projects, such as garage waterproofing, presented significant challenges. One contractor quoted a staggering $1,000,000, which was approved by the Board. In contrast, alternative quotes of approximately $135,000 were dismissed.
- The absence of comparable service prices, a shortage of data on the financial efficiency of different condo buildings, and a lack of benchmarks for reference present significant challenges in maintaining optimal standards within the condominium sector.
- A notable gap exists in providing condo owners with an effective platform for open communication to discuss condo services, pricing, and issues within a building and across multiple buildings, involving both owners and boards. We are pleased to announce that our website, condo-social.ca, has been developed to address and resolve this communication challenge.
- The Condo Service market faces formidable entry barriers due to the limited access of Condo Service Providers to projects and contracts. This restricted entry hinders the establishment of an open market and healthy competition. Consequently, service prices and quality may not be the best for condo owners under such circumstances.
My experiences as a condo owner, investor, and board director have motivated me to seek a solution that fosters transparency and competition in the condo service market.
Our website, www.condo-gpt.ca, promotes price transparency and allows condo owners and directors to compare condo fees across various condominiums. It also enables them to invite the most efficient condo management companies with proven results to implement their best practices
Our website, www.condo-social.ca, will facilitate actionable communication between owners and directors, provide urgent assistance, and improve the overall condo living experience.
Our website, www.condo-fairtender.ca, is designed to provide equal access to condominium contracts and projects for all qualified Condo Service Providers. It promotes tendering process transparency, fair competition among providers based on the price and quality of their services.
Get in touch with us
You want to get more from us, feel free to get in touch with us throught Contact us section.