Condominium owners face common problems and perils. Vertical City started off as a way to address those challenges using our experiences and software solutions to educate and support condominium boards in providing better value to owners.
Our First Test
In October 2019, we had the opportunity to put our ideas into action by working with our first condominium board. During this time, we developed key tools to improve financial and operational decision-making:
Energy Analytics Tool – By analyzing historical utility bills and weather data, we built a predictive model to compare expected versus actual energy consumption. This revealed a mechanical issue that had gone undetected for two months—costing the condo corporation over $100,000. Read more here.
Budget Analysis Tool – We created software that aggregated historical budget data, allowing the board to visualize spending trends for specific line items and make more informed financial decisions.
Reserve Fund Analysis – Our research uncovered a consistent shortfall in the reserve fund compared to study projections. This insight helped the board realign their funding strategy with more accurate forecasts.
Reserve Fund Management Forecast Tool – This tool simulated different reserve fund management strategies, including the gradual addition of market-linked GIC investments to improve long-term returns. Read more here.
Community Feedback and Identifying Gaps
As we engaged with industry professionals and other condominium boards, it became clear that existing solutions weren’t meeting the needs of condo corporations:
Industry Insights – Our research and solutions were ahead of the curve, often surprising experts with their accuracy and effectiveness.
Condo Board Conversations – Speaking with multiple boards highlighted a major gap: many lacked the necessary tools and support to tackle common financial and operational challenges.
Motivated by these findings, we created Vertical City to bridge these gaps. Our goal is to provide an online toolkit that empowers the condominium community with the resources and knowledge they need to navigate their most pressing challenges.
On a mission to provide every Condominium Owner in Ontario the tools they need to protect their home and grow their investment
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