Condo Directors’ & Owners’ Choice 2021

Best Condo Management Practice Exhibition

Best Practice in Condo Management
5/5

Trust Your Condo to the Best Pros!

financial and non-financial achievements of
property management companies, managers and self-managed condominiums

Condo BI started to publish the best examples of condo management efficiency to show condo directors the best examples
of an efficient property management and companies that could provide the best service spending less condo owners’ money

Cases might be submitted during December 1. 2021 – February 28. 2022 and it will be displayed in 72 hours after your submission

Benefits for Condo Management Companies, Condo Directors & Owners

Days
Hours
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Benefits for Condo Management Companies, Condo Directors & Owners

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Benefits for Condo Directors & Owners

What might be the best reason to select a particular Condo Management Company for your condominium? 

Definitely, it is a proved result!

That result might be financial and non-financial  or  financial and non-financial  progress.

  • How to see the evidences of that best results or a progress?
  • How to compare a particular company’s results and a progress to other companies’ results and progress?

 

Condo management company listing at condo-benchmarking.ca

and their best managed condo’s photos, videos and  description of their best results and progresses

will help Condo Directors and Owners to understand what exactly have been done in that condominium by that Company and get it compared to other condominiums.  

 

The Sign of Excellence – digital Badge

(with a verifiable ID number)

on a company’s website or business card or on advertisement will be a good evidence of the company’s proved efficiency.

 

All of that will help Condo Directors and Owners make informed, result-based selection of the most efficient Property Management Company.

Benefits for Condo Management Companies
  1. Condo management companies get a unique opportunity to showcase their best managed condos in front of Condo Directors and Owners:

Condo Management. Best Practice

as the best evidence of theirs excellent results to proof

why Condo Directors should select your company!

 

2. As a result, management companies that demonstrated their financial and non-financial performance or progress will be awarded with a 

Sign of Excellence – digital Badge (with a verifiable ID number)

Condo Management Best Practice. Toronto

etc.

that might be displayed on the a company’s website, business card and their advertisement.

That Badge is to help Condo Directors and Owners to identify the best Condo Management Companies with proved excellent results.

If you have a similar or a better example

Your company’s information and your best managed condo will be displayed

at least until April 15, 2022 (final results of publication date).

Best practice of Toronto & GTA and Montreal

Average, Min and Max indicators are just for high – rise (5 +) buildings

Methodology of Evaluation

Main Requirements to condos applied for best practice showcasing

– Absence of current court cases;

– Absence of condominium’s long-term payables

(except leasing obligations);

– Healthy reserve fund;

– All scheduled major repairs and replacements needed performed in timely manner.

Methodology of Evaluation
  1. All condominiums will be divided into 2 groups:

    1. Low – rise (1 – 4 floors);

      High – rise (5 + floors).

    Financial assessment will be performed taking into account:

    1. A level of services (basic, economical, luxury and ultra luxury);

    2. A set of amenities and inclusions;

    3. Other factors that reasonably might influence on financial KPIs.

    Detailed analyses will be performed to make adjustments between groups based on sets of the amenities, level of luxury, quantity of units, size of units etc.

    Stage 1. Preliminary ranking will be done by Condo Business Intelligence based on:

    1. Financial indicators supplied by condo management company /or condo manager, data revealed from other sources open to public.

    2. Number of years under current management company/ or a manager.

    3. Financial progress (condo fees decreasing or any other financial achievements).

    4. Data about High Quality Repairs or Replacements below a market price (using new technologies, using public tender to find great contractors);

    5. Data about Non- Financial Improvements (anything that improves condo owners’ life experience – save time, improve comfort etc.)

    Stage 2. Condo Directors’ and Condo Owners’ Choices. Data aggregated from:

    1. Online voting page;
    2. Direct e-mail voting;
    3. Voting at condo-social.ca

    Final ranking will be based on aggregated Condo Directors’ and Owners’ Voting (1–10 scale).

    All positions for evaluation are listed below.

Indicators & Information for Evaluation

Green lines data is collecting from Condo Management Companies when they send an application.

Yellow lines data is collecting from Condo Directors and Condo Owners.

All other lines data is collecting from Real Estate and Government data sources available to public

Condo Name

Set of amenities

Set of inclusions

City

Neighbourhood

Overall Ranking

Condo Fees

1 Year Annual Growth, %

3 Year Annual Growth, % / a Year

Market value

1 Year Average Appreciation of 1000 SF Unit, $

% a Year

3 Year Average Appreciation of 1000 SF Unit, $

%/a Year

Number of Years under current management company/ or manager

Financial Progress

High Quality Repairs or Replacements below market price

Non- Financial Improvements

VCI – value to Cost Indicator

Above/ Below in the City

Above/ Below in Overall Sample (Toronto & GTA)

Days to Sell

Condo Owners Choice

Condo Directors Choice

 

Does your company have a great example?

Prove it and