Condo Business Intelligence is Welcoming
The Best Condo Management Professionals
of Toronto & GTA to Introduce
the Most Efficient Condominiums, Condo Management Companies
and their financial & non-financial achievements and progress
to Condo Directors and Owners
Financial and non-financial efficiency are just two of the many benefits that come with a highly experiences condo management.
Management companies role in a city life is extremely high, especially in Toronto and GTA! A right company is able to make a big difference in a condominium, but how to proof, your condo management company is one of the best?
A pre-sale process is an expensive and very time consuming, sometimes, it is exhausting process for some management companies, requiring:
to understand which condominium is looking for a management company / or is going to replace a management company,
to find right, condo directors that motivated and open for a proposal,
to find contact information of condo directors,
to create a portfolio that could convince condo directors that your company is able to be efficient and effective,
to send a commercial proposal
to get references
For small management companies that process became extremely complicated. And for condo management startups, it is absolutely unreal to find a condo contract.
The main goal of “Condo Directors’ Choice” is to reveal the most effective professionals
in condo management industry of Toronto & GTA
to help condo directors and owners to make informed, result-based selections
and to create an online bridge dedicated to connect
the best condo management companies and condo directors
It will allow condo management companies to save a lot of time and money and make pre-sale process very simple. Management companies will get condominiums’ invitations right from Best Practice Pages, just from verified Condo directors.
Condo management companies are invited to showcase their best managed condos that might be great examples of financial and non-financial efficiency.
Condo management startups are invited to showcase their condo managers’ previous best practice as well, if they will be able to proof their great results through a special request, email@example.com
All Condo Management Companies’ applied cases will be evaluated based on financial and non-financial indicators described in their applications and based on Condo Directors and Owners online voting. The list of Top best managed condo buildings (Top 10 for each city of Toronto& GTA) and their condo management companies / or managers will be published and widely promoted through:
Condo Business Intelligence Solution – condo-benchmarking.ca, condo-fairtender.ca, condo-social.ca, in “Condo industry best practice news” of condobi.ca and Google, Twitter, Facebook, Pinterest
to Introduce those condo management companies and managers to public.
Top 10 companies of best managed condos (each city of Toronto & GTA) will get digital badges that will highlight Condo Directors’ Choice and let public know that company proved that it is efficiency and effectiveness.
A role of a condo management company and a manager
A role of a condo management company / and / or a manager is hard to overstate. 95 % of condo owners’ costs efficiency, and a building and amenities’ maintenance depends on condo manager, and just about 5 % on condo directors and owners. There are a lot of condo management companies in Toronto & GTA, big and small.
All of them may represent themselves as the best one. But it is really difficult for condo directors to select a condo management company/ or a manger without seeing the evidences of their great results and without a comparison those results against other companies results.
If condo directors are able to view and compare companies’ best practice cases expressed as financial and non-financial indicators and photos, they are able to make informed, result-based selection of a company or a manager. And definitely, the most efficient companies will be in a high demand! Condo owners will run for such companies to ask them to implement their best practice!
A traditional way of a condo management company selection
A traditional way of a condo management company / and / or a manager selection is based on:
- Personal or business referrals.
- Direct offers from companies.
- Condo directors researche etc.
Certainly, any company or a manager might convince condo directors and owners that they are the best to make your condo miraculous. But it does not give condo owners any reasonable assurance they will get expected improvements. As a result, some big condo management companies that could represent themselves in the best way have much more chances to get a contract but small companies that do not have enough business connections and representative abilities have less chances for growth, but such companies might be more demanded by condominiums because they might be more efficient and client – oriented.
New ways of a condo management company /or a manager selection
Condo Business Intelligence have already offered condo directors a few new tools for comparison of condos’ financial indicators and for selection of condo service providers:
However, in the most cases, financial indicators might be not indicative because a condo management company might inherit some financial and non-financial problems of the condominium from past, poorly managing teams. And they needed to implement a lot of improvements to make a positive progress.
And in some cases, the Board does not provide a proper leadership or prevent condo manager from doing right changes. Also, in some cases, a building might have a low condo fee but a very low quality of services etc.
Those were main reasons Condo BI started to collect applications of condo management companies and managers showcasing their best financial and non-financial achievements in condominiums and photos showing the building, its amenities, and a successful projects and progress (if applicable).
One of Condo BI’ s major goals is to help condo directors
to make a process of condo management company selection as a
Result – Based Selection Process
and advice condo directors and owners which condo management company /or a manager could make a difference in their condominium! Nothing might be better evidence of a condo management’s or a manager’s efficiency than a condo’s:
FINANCIAL AND NON-FINANCIAL INDICATORS,
THEIR PROGRESS AND
THE PHOTOS DEMONSTRATING A CONDO WELL BEING
Condo Business Intelligence researches shown that some luxury condominiums spend $0.23 – $0.37 per SF per month but some condos with just basic services might spend much more. And it was confirmed for multiple times that a financial well-being of a condominium and condo owners physical and emotional comfort depend on a perfect job of a property management team.
Condo BI Canada created Best Condo Management Practice Exhibition to help Condo Management Companies and Managers to showcase their
best achievements to Condo Directors proving
Condo Directors Should Select
a Particular Condo Management Company?
If those companies achieved great results or a progress in one condominium it might be repeated in others!
Top 10 Condominiums with the most effective condo management and their Condo Management Companies / or Managers will be selected for Toronto and 9 cities of GTA. The name of management companies and their best managed condos will be displayed at Condo Directors’ Choice.
Best Condo Management Practice page of condo-benchmarking.ca
and Condo Directors might invite those companies to manage their condominiums, right from that page.
How those condos and management companies will be selected?
It will be 3 levels of assessment:
- financial and non- financial indicators assessment based on condo management company’/ or manager’s
- condo directors voting
- condo owners voting
The final results will be published on June 15th, 2022 based on Condo Directors review. Since Best Practice case submitted it will be published on Best Practice pages and condo directors will be invited to check the pages on regularly, after each company’s submitted case. So, every Best Practice case will be viewed by Condo Directors toll April 30th. So, it is better to apply earlier to enlarge exposure.