Manager crunch in Ontario’s condominium boom: how UpperBee empowers you to do more with less

Manager crunch in Ontario's condominium boom

23 September 2024 | Co-ownership, Condominium, HOAs, Property Management, PropertyManager, software | Manager

The recent report by the Association of Condominium Managers of Ontario (ACMO) paints a clear picture: Ontario’s condominium market is buzzing. With over 1.7 million residents and more than 12,000 condominium corporations.
The rapid growth of recent years presents a wealth of opportunities for skilled condominium managers.
However, this surge in demand has also created a critical shortage of qualified professionals, leading to rising condominium fees for residents and a struggle for property managers and condominium corporations to find and retain top talent.
In addition, the recent article from Global News highlights once again the growing shortage of qualified condominium managers in Ontario.

This situation creates a double challenge for condominium corporations: attracting and retaining qualified managers while keeping condominium fees affordable for residents.

Key takeaways of Ontario’s booming condominium market

The condominium manager shortage is a complex issue with several contributing factors:

Increased demand: The rapid growth of Ontario’s condominium market has significantly increased the demand for condominium managers, outpacing the supply of qualified individuals.
New licensing requirements: the Ontario Condominium Management Services Act (CMSA) of 2015, had introduced stricter licensing requirements for condominium managers, which has led some experienced managers to leave the industry.
Compensation pressures: The shortage of qualified managers has driven up salaries, making it more expensive for property managers and corporations to attract and retain top talent.

The impact on condominium owners:

The condominium manager shortage has a direct impact on condominium owners, who face several consequences:

Rising condominium fees: As corporation or property manager’s struggle to find and retain qualified managers, they often pass on the increased costs of hiring and retaining talent to residents in the form of higher condominium fees.
Reduced service levels: With fewer managers to handle the growing workload, condominium owners may experience reduced service levels, such as longer wait times for maintenance requests and less responsive communication from management.
Potential safety concerns: A shortage of qualified managers can also lead to potential safety concerns, as proper maintenance and inspections may not be conducted as thoroughly or frequently as they should be.

This comes at a time when homeowners are already dealing with rising mortgage rates and inflation.

What can be done?

While there is no immediate solution to the condominium manager shortage, there are some steps that can be taken to address the issue:

Explore technology solutions to streamline tasks and make the job more efficient.
Increase training and education programs to attract more people into the condominium management profession.
Offer more competitive salaries and benefits to attract and retain qualified managers.

One of the solutions: technology can help!

While there is no immediate fix for the condominium manager shortage, UpperBee, a leading accounting and property management platform, offers a tech-based solution that can help alleviate the challenges faced by condominium managers and condominium owners alike.

How UpperBee empowers condominium managers:

UpperBee is more than just a static property management software; UpperBee is dynamic and keeps up with the changing needs of the property management industry and continues to lead the way, offering top-notch solutions that help property managers thrive in an increasingly demanding and competitive market.
Do not just manage condominiums, revolutionize them!

Discover how UpperBee can transform your approach to accounting, property management, and resident satisfaction. UpperBee provides condominium managers with a suite of tools and features that can help them streamline tasks, improve efficiency, enhance communication, and make data-driven decisions.
Here are some of the key benefits of using UpperBee:

Save time & boost efficiency with automated tasks: UpperBee automates many common administrative tasks, such as rent collection, maintenance requests, and financial reporting, freeing up managers’ time to focus on more strategic initiatives.
Enhanced communication: UpperBee provides a secure and user-friendly online portal and mobile app that allows managers to communicate effectively with residents, share important updates, and address concerns promptly.
Streamlined financial management: UpperBee integrates accounting, budgeting, and electronic payment solutions, giving managers a comprehensive view of the financial health of the condominium corporation.
Data-driven insights: UpperBee generates in-depth reports and analytics that provide managers with valuable insights into resident trends, maintenance needs, and financial performance.

The above combined with UpperBee’s resident and board self-service features and workflow automation tools provide a comprehensive and innovative suite of tools that empowers you to do more with less, optimizing daily management tasks.

‘‘… without the efficiencies I gain with using UpperBee’s workflow management tools, and self-service and automation features, I could not service my clients profitably, or I would have to significantly increase my rates. UpperBee allows SolutionCondo to efficiently provide our management services and make effective use of manager time. ’’

Elise Beauchesne – President SolutionCondo

As a leading accounting and property management platform, UpperBee understands the challenges you face. Fortunately, technology can be part of the solution. What sets UpperBee apart from other solutions is its comprehensive and innovative approach:

– Integrated solutions: UpperBee offers a suite of integrated solutions that cater to the diverse needs of property managers, landlords, association boards and real estate professionals. Whether managing portfolios, HOAs, or multi-residential properties, UpperBee streamlines operations and optimizes efficiency.

– Exceptional versatility: With seven distinct products – Manager, Condominium, Rental, Pay, Track & Fix, Meeting, and Bonjour – UpperBee covers all aspects of accounting and property management. Each product is tailored to meet specific needs, from resident communication and financial management to property inspections and meeting organization.

– Intuitive interface and robust features: UpperBee is renowned for its user-friendly interface and comprehensive functionality, ensuring seamless property management. Our integrated payment solution, for example, speeds up rent and fee collection, simplifies supplier payments, and boosts productivity with online integration.

– Commitment to customer service: UpperBee’s dedicated support team ensures prompt and effective assistance, contributing to a positive user experience and reinforcing our reputation as a reliable and user-friendly solution.

– Innovation at its core: we continuously develop cutting-edge solutions to meet the evolving needs of the condominium market.

– Scalable and accessible: UpperBee adapts to your specific needs and grows with your business.

– Security you can trust: we prioritize data security, ensuring peace of mind for you and residents, with our dedication to SOC-2 compliance.

Schedule a meeting today and see the UpperBee difference! Contact the UpperBee team today!

Join the conversation: What are your thoughts on the condominium manager shortage?

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