Strategy – Your condo can do better

Annual revenue approaching $1 million, market valuation of $50 – $60 million, 4-6 full or part-time staff members, a management team and a board of directors. It’s a typical 100 unit condo in a Canadian urban area, but you can be forgiven for confusing it with a successful business.   Condos are not-for-profit corporations acting within specific regulations set by governments. But with so much at stake, why not take some best practices from our most successful organizations? Why not operate more like a business?   Why not create a strategy? Why not collect data to ensure the boards decisions are aligned to the interests of owners? Why not ensure owners are up to date with priorities and projects?   While a condo doesn’t operate to turn a profit (nor should it), it should act to protect and develop the value of the real-estate by maintaining and advancing the facilities and infrastructure.    Read the article…………..

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