New management.

In 2022, we replaced an outsourced management provider with our own internal team. This was a significant board effort that yielded savings of $202,000 per year and upgraded the management team.

New security.

In early 2022, we replaced our security provider with Blackbird Security. A new entrant to the Ontario market, Blackbird offered competitive rates and an attentive management team. We implemented new Site Director positions to enhance security levels.

Fair short-term rentals.

We negotiated an unprecedented agreement with Airbnb which set the foundation for the condominium to ensure all STR hosting is respectful of our community, and that guests pay their fair share toward condominium costs.

$1M+ contract savings.

Though an intense two-year negotiation led by board members Nicholas Pearson and Daniel Gary, we saved owners approximately $540,000 per year on costs for the areas shared with the neighbouring office, plus a $553,000 retroactive cash payment. This will permanently improve owners’ value via lower common element fees.

Progress on key issues.

The board has resolved numerous issues we previously faced, such as excessive fire alarms and security issues, thanks to responsible investments in building improvements such as access control solutions. There is always more to be done!

Improved resilience.

Before the current board, the condominium did not respond to media requests and had no platform. The board launched an official website (designed by Daniel Gary, at no cost to the corporation), to respond to incidents and make public the positive aspects of ICE Condominiums. Our team also advanced our PR approach with Nicholas fiercely defending owners’ interests in the public forum.

Cost reductions.

The board has gradually replaced many of the condominium’s vendors with providers who offer better value. Now that we have a management team with deep specialized expertise (unlike any other condominium), we are well-equipped to hold contractors accountable. Vendors replaced include: pool maintenance, plumbing, window replacements, window cleaning, IT, legal counsel, and others.

A strong defence.

The board has defended and protected owners’ interests in several claims we disagree with. Notably, the board responded to three Condominium Authority Tribunal filings made by Rajat Sharma, and considers itself successful for each one (1, 2, 3). Although we view the claims themselves as frivolous and wasteful, the board is proud to have defended owners’ interests in a cost-effective and reasonable manner.

Saying “no”.

Focusing is about saying no. Despite pressure from salespeople and others, the board has prudently declined many “too good to be true” proposals. These included: an automated parcel solution, which we later heard has caused delivery issues for residents in other condominiums; and a project management contract (we filled the role internally).

Innovation.

The board implemented tools including Skedda and Front, which are not used in other condominiums. These tools have resulted in significant cost savings due to reduced headcount requirements.

Improvement.

With strong progress on resolving root-cause issues, the board is also in early stages of several resident-facing improvement projects. For example, Mason Ross is leading an initiative to evaluate options for refurbishing residential hallways, and renovating ground-floor lobbies.

Fiscal responsibility.

The board is approaching five years without an insurance claim, and has tactfully negotiated several matters internally thanks to prudent fiscal planning. This has kept our insurance premiums low, in comparison to steep increases seen by other condominiums. The board also maintains contingency funds, which means owners do not have to worry about things like special assessments or unplanned costs.

Transparency.

Three years ago, owners had minimal information about condominium governance aside from the mandatory disclosures. The board has added best-in-class communication, at significant personal effort, including:

• Official Owners’ Facebook Group

• Detailed annual budget letters

• Detailed annual reports

• Information meetings

• Resident meet and greet events

• Email and website updates

The board maintains an “open book” policy and has fulfilled several records requests.