WELCOME! My name is Tom LePage, a condominium consultant.
My passion and my livelihood is enhancing condominium ownership one Condominium Corporation at a time by introducing “Condo-Ology® Principals”.
Condo-Ology® Principals are based on Direct Democracy (think Switzerland) as means to effectively engage and educate future and current Condominium Owners, Boards, Directors, Managers and Realtors®, of the necessary requirements to have a long-term successful condominium community.
“The only true wisdom is in knowing you know nothing.” Socrates
In the majority of cases, a Board will just request my independent review of their Condominium Corporation operations policies, rather than relying on other conflicted service providers that are currently engaged by the Condominium Corporation. A SECOND UNBIASED OPINION
‘‘If a company’s adviser (manager/management company) has a conflict, the ‘‘best practice’’ for a corporate (Condominium Corporation) board is to hire a second unconflicted adviser to help cleanse the first adviser.’’ Andrew Ross Sorkin, New York Times
The review is not onerous, and it is designed to educate, simplify operations requirements and oversight so the volunteer elected Directors can be more effective and become confident Board Members.
Let me teach your Community the lessons and tips I have learned since being involved in the condominium industry since 1982.
My hire is to simplify and not to introduce more unnecessary complexities, which has been the trend since condo ownership was introduced.
A few simple suggestions which can be implemented immediately. (Much more on the website)
- Include all of the names of the various service providers for the various budgeted expense accounts within the budget
- Reserve Fund Study annual recommendations and all individual reserve fund expenses must be included in the Corporation’s monthly financial reporting.
- The Corporation’s Annual General Meeting should fall on the same day year after year i.e. the second Thursday evening of a particular month – have it carved in stone.
- Way too often I find various specific expense accounts differ from the budget, monthly financial statements, and the annual audit. There is no way a Board can provide proper financial oversight if their accounts are not identical.
- Similar to the above; the various components accounts used in the Corporation’s Reserve Fund Study must be identical to the financial accounts, if not, oversight is practically impossible.
Couple of additional recommendations (Much more on the website)
- Knowing and understanding the basics of your management accounting and condominium data software: Is the accounting function and condominium data administration contracted to a third party? Does management license software and if so from which firm? Is management using their in-house proprietary software?
- All Directors, as well as the Owners, must understand the specific roles for the Board and management. In most cases the relationship is loosey goosey and in these cases conflict will arise. An intermediary such as me can often solve misunderstandings quickly and easily between the Board and management personnel
In addition the above
- I assist current and future condominium Owners with their understanding of condominium ownership
- My cell number in on many Realtor’s® speed dial
- Mentor independent condominium managers
There is no charge to discuss your needs – I am here to help
(Disclaimer – All information or opinions within this site are mine, a conflict free and independent Condominium Consultant and cannot be considered legal opinions. Legal opinions can only be provided by lawyers.)
Tom LePage FRI, CPM, RCM, ARP.
LePage Condominium Consulting
Founder and Facilitator of Condo-Ology®
1 705 441-3529