Condo management best practice example
Do you know that 60 condo buildings of Toronto & GTA that are 3 floors and lower, with very basic amenities (a party room, a parking), no concierge service, have $0.52 – $1.35 per sq. ft./month have condo fee? At the same time, some of luxury condo buildings and lofts in Toronto and Montreal have condo fees lower that $0.23 – $0.37 per sq. ft./month and maintained perfectly.
As you already know, Condo Business Intelligence is looking for best practice examples in condo management to introduce those examples to condo directors. So, condo directors could use those examples as benchmarks and invite the professionals that manage condo buildings more efficiently to implement their best practice in other condominiums.
Condo Business Intelligence team discovered that condo fees in Montreal, Greater Montreal and Quebec area much lower than in Toronto & GTA and has found incredible examples of efficient condo management. Here is one more example of efficient condo management that might be followed some Toronto & GTA’s condominiums.
Monthly condo fee is $1,682 for 3,200 sq. ft.
(it is $0.52 per sq. ft./month)
The market value of the condo is $3,495,000 ($1092 per sq. ft.).
The property Tax is $18,678/year.
The building is registered in 1983 year.
The building has a Versace Penthouse
with 3,000 sf of intimate terraces with unobstructed views!
First level (2,740 sf) with three bedrooms including a spectacular master suite with huge walk-in closet, hand-painted mural and skylight. Breathtaking living area with marble floor, gorgeous circular wood staircase and
large fenestration. Full secondary bathroom. Easy and pleasant access to the first terrace (1,619 sf). Beautiful contemporary kitchen with hand painted fresco and dining area. Second level (530 sf) open concept with bathroom, fireplace, large windows and direct access to the second terrace (1,315 sf). A perfect space for an office, guest room or live-in staff. Central air conditioning. Two side-by-side garage spaces, three steps from the reception and the semi-private elevator. Private storage space in the garage.
3,200 sf of sublimitý and exclusivity on two levels. A unique space with hand-painted frescoes by Versace’s own painter: an impressive reproduction of the great designer’s South Beach Villa. Beautiful marble floors, vast fenestration and spectacular living areas.
Nearly 3,000 sq. ft. of terraces with breathtaking views of Mount Royal, Outremont, the University of Montreal, the Oratory, the Olympic Stadium and sunsets! 2-minute underground access to the renowned Midtown Le Sporting Club, Montreal’s most exclusive sporting club and a VIP meeting place for its unique and upscale lifestyle.
Condo building location
That building is only minutes away from the stores and bistros of Av. Bernard, and 15 minutes from downtown Montreal. Located in a wooded area with walking trails. Adjacent to Outremont, renowned universities, major hospitals.
Prestigious and secure building with top-of-the-line services: 24-hour security guard, semi-private elevators, meeting rooms, direct indoor access to Midtown Le Sporting Club and the Medi-Club medical center in Mont Royal of Montreal.
Le Midtown, a Sporting Club comparable to a 5-star resort frequented by Montreal’s elite with its friendly restaurant, boutique, beauty salon, indoor pool, tennis, sauna, outdoor spa, huge terrace with lounge chairs, state-of-the-art gym and more.
If your condo has a condo fee higher than $0.50 per sq. ft. you need to discover why. Probably your condominiums get more condo services or a better quality of services or just need more efficient condo management.