Breaking the 'Lack of' Technology Barrier

Managing a condominium is no small task—boards must oversee a wide range of responsibilities while balancing the expectations of the owners they represent. To navigate these challenges, boards work collaboratively, relying on their collective expertise to manage operations effectively.

While systematic and organized boards perform best, human error is inevitable. That’s why many industries have embraced technology to handle complex, repeatable tasks. However, despite the potential benefits, technological adoption in condominium management remains limited.

Why Hasn't Technology Taken Hold?

Given the wide range of tasks that condominium boards manage, one might expect technology to play a greater role. Many operations—such as reserve fund forecasting, budget analysis, and utility consumption tracking—are ideally suited for data-driven solutions. Yet, the industry remains largely underserved by advanced tools.

So why hasn’t technology filled this gap? Several key obstacles stand in the way:

• High development costs – Building robust technological solutions requires specialized expertise, which comes at a premium. Condominium corporations often operate on tight budgets, prioritizing cost control over long-term efficiency gains.

• Lack of technical expertise – Many condo boards lack members with technology backgrounds, making it difficult to evaluate or implement digital solutions effectively.

• Limited innovation from service providers – Existing condominium management firms tend to operate on narrow profit margins, leaving little room for investment in new technology.

• Resistance to change – Many service providers and decision-makers underestimate the impact technology could have, resulting in a slower adoption rate.

The Shift Toward Digital Solutions

Despite these barriers, change is on the horizon. As technology becomes more accessible and boards see the benefits of automation, the demand for smarter solutions will continue to grow. With frequent board turnover, fresh perspectives bring new opportunities to modernize outdated systems and enhance operational efficiency.

Looking Ahead

At Vertical City, we believe the condominium industry is on the brink of transformation. As digital solutions become more affordable and practical, new businesses will emerge to bridge the technology gap. The next generation of board members will expect—and demand—better tools to manage their responsibilities more effectively.

The shift is coming. The only question is: who will lead the way?