A matter of a high professionalism of a property management company or just a fortuitousness?
Looking for the best practice
CondoBI team was looking for any good examples of a high quality of condo maintenance and a high property value with just
$0.40 per SF/month condo fees limit.
It was next to impossible to find such example in Toronto>A. We have found just 9 high rise (5 fl and above) condo buildings with monthly maintenance fees $0.40 and less. 78 % of them are in the low Toronto>A market price segment (market price is less than $700 per SF). But one of the building appeared to be a great perl that must be shown as the best practice.
1. Toronto
This is one of examples that proved it is possible to collect just $0.23 per SF / month to maintain a luxury incredible condo building . The most expensive lofts in the city. 6 Floors, 11 Units building:
This building lofts are the lofts to which all other lofts aspire. Massive windows, high ceilings, exposed brick. Almost 5000 SF of custom designed space featuring the best of everything. Individual elevators into the loft foyer, enormous rooms, fireplaces, custom bars, libraries, tremendous entertaining spaces. Huge bedrooms w/2 walk in closets and spa like ensuite.
Condo fees – just $1631 per month for 4750 SF, it is $0.23 psf/month including 1 parkings spot. So, net condo fees counted ~ $0.23 per SF/month. 6 – floor building which is registered in 1998 year.
Lofts with 3+1 sizeable bedrooms with 3 ensuites, and underground parking space
This State of Art is worth to be shown to the wide public to understand and enjoy watching the quality of building and the life style!
Such condos prices are in a range of $3,800,000 – $8,800,000 for ~ 5000 SF
Based on the information of condos.ca, Condo has:
- security system,
- BBQ,
- visitor parking,
- gym,
- elevators,
- security guards,
- parking,
- hydro and water are included.
Taking into account that according to statistics of 2018, average condo fees in Toronto were ~ 3 times higher than in Montreal we were searching best practice examples in Montreal and we have found a lot of great examples.
2. Montreal
This is one of examples that proved it is possible to collect just $0.37 per SF / month to maintain a luxury condo building in a cold and snow winter:
Luxury Incredible Condominium/Strata with spectacular unobstructed views of the river from each room. The property boasts grand proportions, high quality finishings, an inviting open plan, large fenestration,
3 sizeable bedrooms with ensuites (3+1), 2 private balconies, 3 parking spaces.
Condo fees – just $1037 per month for 2635 SF, it is $0.39 psf/month including 3 parkings spots So, taking into account one parking spot fee is at least 20/month, net condo fees counted ~ $0.37 per SF/month. 23 – floor building is registered in 2005 year.
Condo has:
- outdoor and
- indoor heated pools,
- jacuzzi,
- 24/7 security,
- games room,
- party room,
- guests’ lounge,
- gym,
- golf imitator,
- water included.
Those are just 2 bright examples that prove it is possible to maintain luxurious condo buildings with just $0.23 – $0.37 psf/month condo fees!
“Condo Business Intelligence Canada” is looking for the best practice in condo management to give condo boards an opportunity to compare quotes of companies and condo managers that manage similar condos more efficiently or invite the most efficient property management companies and property managers directly to implement their best practice to their condo buildings.
Now, property management companies of Toronto & GTA and Montreal have an opportunity to
and share the information about their financial and non-financial achievements in condominiums
better quality of services or a high quality of repairs in the building, or financial economy or efficiency
Let’s Condo Directors and Condo Owners know
WHY YOU ARE THE BEST!