As a property manager, you are expected to be the jack-of-all-trades, and it is challenging navigating through so many different trades and disciplines in your buildings. The following practices are something that any contractor appreciate in the daily interactions we have with property managers.

Energy benchmarking is one of the easiest ways to begin to manage your building’s operating costs. Having a sound understanding of how much your building consumes energy and water is an excellent way to identify opportunities for efficiency and recommissioning, as well as adopting a more strategic approach to managing
your building’s costs.

We are truly living in unprecedented times with the global spread of COVID-19. The health of your residents has become a top priority, and the importance of maintaining indoor air quality is something property managers and the board of directors must consider going forward.

Replacing your asphalt is likely one of the most substantial expenses a townhome or commercial condominium will experience, along with roof replacement. Projects of this size affect the corporation’s financial situation and must be included in reserve planning. Paving projects are disruptive and can negatively impact both the residents and site aesthetics if not done correctly.

With the federal government’s national target of 10% EV market share by 2025, Ontario’s anticipated rise in the number of electric vehicles requires that both residential and commercial condominiums are prepared. That means ensuring that proper planning and infrastructure are in place to serve the current and future requirements of
their owner’s EV charging stations.

The condominium industry is structured in a way where there is a constant rotation of new members governing the corporation. Due to the ebb and flow in governance, conflicts between personalities often arise, and these can hinder the effective operation of the property.

Professional property managers must navigate a new landscape. Residents will have concerns and demands that didn’t exist a year ago. As we look to the future, we know that properties must be three things: sanitized, secure and smart.

“I can’t see out of the windows!” is a familiar complaint managers and board members receive from angry residents because their windows are dripping with condensation. Water vapour drips down the glass and pools on the sill, paint peels, and the casement is damaged. On occasion, it may even cause the formation of the dreaded “M” word — mould!

What if I told you that technology and digitization are also evolving into something as mundane as elevators? Would you be shocked, or would you see this as normal and expected?

The wrath of COVID-19 will continue to have a significant impact on many sectors of society – unlike any other health crisis before. It has left an indelible mark on our work, our state of mental and physical health while ushering in a new normalcy in our day-to-day lives.

Condominium life doesn’t get put on hold during a worldwide health crisis. If anything, clear communication and nimble decision-making become paramount when the global situation and business landscape can change hour by hour. Add to the mix the spring AGM season and the challenges may seem insurmountable.

From a qualification perspective, condominium board members are typically not licensed brokers, risk managers nor insurance professionals. They are people from varying backgrounds, bringing different views to the table. 

Airbnb and other short-term rentals have been a hotly debated topic of discussion in Toronto and other major metropolitan cities, nearly since its inception in 2008. It is argued that the many conveniences offered by STRs, including their often reasonable prices and locations, have come at the expense of other residents in the City of Toronto, including those who reside nearby to STR units.

The fundamental problem, I believe, is that condominium insurance just isn’t sufficiently profitable for the insurers. I think the reason is that the premiums are based on the risk of large claims (say, insured losses of $100,000 or more) … and in actual practice condominium corporations often have many smaller claims.

It has been common practice in the condominium industry for a condominium corporation to chargeback these legal costs to the non-compliant owner; however, a recent case of the Superior Court of Justice has some in the Ontario condo industry taking the position that these chargebacks are no longer permissible, absent a court order.