Hi, my name is Fadil, a business development intern at managemate and a 3rd year student at York University.
During my tenure with the company, I’ve learned that managemate prides itself on having close ties with the condominium community. The company has various touch points through which we communicate with board members and property managers, such as through social media or coffee sessions. So, when I attended our latest condo board digital meetup in June, which was moderated by our founder Salim Dharssi, I realized the importance of having personal one-on-one conversations.
When a company provides a solution to a specific market it wants to help, its success depends on whether the team listens to and spends time with the people affected by the issue. The digital meetup was a discussion between board members in Toronto, and in one hour, I got a sense of the tremendous obstacles board members and other unit owners face.
Toronto is one of the densest municipalities in Canada, with a mix of older and newer condominium buildings. In Ontario, more than half of the new residential units under construction are condominiums. These factors combine to create challenges, including increasing condo resale prices, a shortage of industry professionals and condominiums having to upgrade old infrastructure to help the city achieve its net-zero emissions goal by 2040.
While it may have been surprising to me, Salim seemed to understand that many board members including himself are in a stressful position and welcome any resources, knowledge and tools that serve to help make managing their condominiums more efficient.
During June’s digital condo board meetup, 3 key problems that the board member participants identified and discussed resonated with me, including:
There's a green wave sweeping through the world and board members are constantly surfing for new solutions on how to get closer to net-zero emissions. The meetup highlighted the rise in demand for EV infrastructure, which brings positive environmental effects but has significant costs associated with it.
When condo owners already have to deal with inflation causing increases in their mortgages, condo maintenance fees and other life expenses, it becomes hard to change lifestyle decisions that can reduce emissions, like purchasing an EV. As an observer during the meetup, this was the most intriguing part because board members discussed how they were adapting to this problem. For most directors, the ideal plan is that any condo owner interested in opting in for EV infrastructure can pay for it and receive it today, while still leaving adequate capacity to install more charging stations if more owners change their minds. This was a way for condos to move ahead with such initiatives instead of delaying the installation of a vital amenity that has become important to a growing EV consumer base.
While on the topic of sustainability, one board member explained their recent success in installing a first-of-its-kind heat exchanger system to replace their ageing (and energy-intensive) chiller and some of their gas-fired heating boilers. The board of directors undertook a colossal responsibility to procure, tender and oversee the installation of a new system that will significantly reduce the carbon emissions produced by their buildings. It’s the first of its kind in Canada, and we very much appreciate them sharing their journey with all meeting participants.
You can check out articles that describe their project in more detail, see here: https://www.thestar.com/news/canada/2023/05/18/how-a-downtown-toronto-condo-defied-the-odds-to-save-energy-and-money.html and here: https://www.hpacmag.com/features/toronto-condo-retrofit.
Many condominiums in Toronto that contract out their essential services, like front desk, concierge, and security staff, face challenges because they experience frequent staff turnover. Outsourcing may be convenient because training, supervision and the responsibility for carrying out duties are taken care of by the company hired to provide the staff. However, there is little continuity between constantly changing on-site staff personnel, which can lead to a disconnect between the expectations of a condo and the quality of the services received.
Every time a staff member leaves, and a new person is hired, they have to be trained all over again in the specifics of that condo and there can be ineffective communication with constant changing faces. I personally assumed it would have been a small issue, but all board members within the June meetup expressed that it was a pressing matter that might force them to reevaluate their options.
More specifically, they were weighing the benefits of outsourcing their services by hiring independent contractors versus hiring staff as employees or through hybrid arrangements, which may help them fill roles more permanently. Some board members argue that while there would be a higher burden on the board due to them being more involved in the hiring process, this would allow boards to hire better trained and more experienced individuals resulting in a higher quality of service and less turnover, while likely saving money by not having to pay 13% HST and removing the margin the staffing companies add to their fees. Moreover, hiring directly also allows the board to evaluate the candidates themselves and feel satisfied with their decisions. In my eyes, it’s a win-win situation, but many condos still prefer outsourcing because it’s less of a burden administratively on the board and management team.
There is a fundamental reason behind the need for multiple roles within the board of directors, including the duties of the president and secretary. A condo’s operations involve a variety of requirements, such as the financial analysis of reserve fund forecasts or legal obligations of municipal and provincial laws.
To operate effectively, the board should know how to develop and solicit interest from owners to join their board, based on a skills matrix. This can be used as a reference point by boards appointing other owners to fill vacancies, or inviting other owners to run for election for board seats that open up. For example, suppose your condo has an opening on their board at the treasurer position. In this case, it would be beneficial for an individual with a background in finance, including data modelling and risk management, to join the board.
There can be moments when condo board members are eager to fill specific roles because they feel like they will have better control of their investment, but it’s always better to trust your peers and managers to translate their valid experience to make positive changes in the condo. As an observer, I thought this discussion seemed obvious, but very little training is provided to boards to help them understand this skills-based matrix ideology.
In conclusion, based on what I learned at managemate’s June digital condo board meetup, board members share the view that they want their homes to be safe, peaceful, and well-maintained. Achieving this is no small feat – it requires a team-based approach between professional property managers, building staff and board members who work together 24/7 for the betterment of their communities. I appreciate all the board members who took the time out of their day to attend the managemate meetup and discuss how condo governance structures can evolve. It was definitely an enlightening learning experience for a young intern like me.
Hi, my name is Fadil, a business development intern at managemate and a 3rd year student at York University.
During my tenure with the company, I’ve learned that managemate prides itself on having close ties with the condominium community. The company has various touch points through which we communicate with board members and property managers, such as through social media or coffee sessions. So, when I attended our latest condo board digital meetup in June, which was moderated by our founder Salim Dharssi, I realized the importance of having personal one-on-one conversations.
When a company provides a solution to a specific market it wants to help, its success depends on whether the team listens to and spends time with the people affected by the issue. The digital meetup was a discussion between board members in Toronto, and in one hour, I got a sense of the tremendous obstacles board members and other unit owners face.
Toronto is one of the densest municipalities in Canada, with a mix of older and newer condominium buildings. In Ontario, more than half of the new residential units under construction are condominiums. These factors combine to create challenges, including increasing condo resale prices, a shortage of industry professionals and condominiums having to upgrade old infrastructure to help the city achieve its net-zero emissions goal by 2040.
While it may have been surprising to me, Salim seemed to understand that many board members including himself are in a stressful position and welcome any resources, knowledge and tools that serve to help make managing their condominiums more efficient.
During June’s digital condo board meetup, 3 key problems that the board member participants identified and discussed resonated with me, including:
There's a green wave sweeping through the world and board members are constantly surfing for new solutions on how to get closer to net-zero emissions. The meetup highlighted the rise in demand for EV infrastructure, which brings positive environmental effects but has significant costs associated with it.
When condo owners already have to deal with inflation causing increases in their mortgages, condo maintenance fees and other life expenses, it becomes hard to change lifestyle decisions that can reduce emissions, like purchasing an EV. As an observer during the meetup, this was the most intriguing part because board members discussed how they were adapting to this problem. For most directors, the ideal plan is that any condo owner interested in opting in for EV infrastructure can pay for it and receive it today, while still leaving adequate capacity to install more charging stations if more owners change their minds. This was a way for condos to move ahead with such initiatives instead of delaying the installation of a vital amenity that has become important to a growing EV consumer base.
While on the topic of sustainability, one board member explained their recent success in installing a first-of-its-kind heat exchanger system to replace their ageing (and energy-intensive) chiller and some of their gas-fired heating boilers. The board of directors undertook a colossal responsibility to procure, tender and oversee the installation of a new system that will significantly reduce the carbon emissions produced by their buildings. It’s the first of its kind in Canada, and we very much appreciate them sharing their journey with all meeting participants.
You can check out articles that describe their project in more detail, see here: https://www.thestar.com/news/canada/2023/05/18/how-a-downtown-toronto-condo-defied-the-odds-to-save-energy-and-money.html and here: https://www.hpacmag.com/features/toronto-condo-retrofit.
Many condominiums in Toronto that contract out their essential services, like front desk, concierge, and security staff, face challenges because they experience frequent staff turnover. Outsourcing may be convenient because training, supervision and the responsibility for carrying out duties are taken care of by the company hired to provide the staff. However, there is little continuity between constantly changing on-site staff personnel, which can lead to a disconnect between the expectations of a condo and the quality of the services received.
Every time a staff member leaves, and a new person is hired, they have to be trained all over again in the specifics of that condo and there can be ineffective communication with constant changing faces. I personally assumed it would have been a small issue, but all board members within the June meetup expressed that it was a pressing matter that might force them to reevaluate their options.
More specifically, they were weighing the benefits of outsourcing their services by hiring independent contractors versus hiring staff as employees or through hybrid arrangements, which may help them fill roles more permanently. Some board members argue that while there would be a higher burden on the board due to them being more involved in the hiring process, this would allow boards to hire better trained and more experienced individuals resulting in a higher quality of service and less turnover, while likely saving money by not having to pay 13% HST and removing the margin the staffing companies add to their fees. Moreover, hiring directly also allows the board to evaluate the candidates themselves and feel satisfied with their decisions. In my eyes, it’s a win-win situation, but many condos still prefer outsourcing because it’s less of a burden administratively on the board and management team.
There is a fundamental reason behind the need for multiple roles within the board of directors, including the duties of the president and secretary. A condo’s operations involve a variety of requirements, such as the financial analysis of reserve fund forecasts or legal obligations of municipal and provincial laws.
To operate effectively, the board should know how to develop and solicit interest from owners to join their board, based on a skills matrix. This can be used as a reference point by boards appointing other owners to fill vacancies, or inviting other owners to run for election for board seats that open up. For example, suppose your condo has an opening on their board at the treasurer position. In this case, it would be beneficial for an individual with a background in finance, including data modelling and risk management, to join the board.
There can be moments when condo board members are eager to fill specific roles because they feel like they will have better control of their investment, but it’s always better to trust your peers and managers to translate their valid experience to make positive changes in the condo. As an observer, I thought this discussion seemed obvious, but very little training is provided to boards to help them understand this skills-based matrix ideology.
In conclusion, based on what I learned at managemate’s June digital condo board meetup, board members share the view that they want their homes to be safe, peaceful, and well-maintained. Achieving this is no small feat – it requires a team-based approach between professional property managers, building staff and board members who work together 24/7 for the betterment of their communities. I appreciate all the board members who took the time out of their day to attend the managemate meetup and discuss how condo governance structures can evolve. It was definitely an enlightening learning experience for a young intern like me.
