Just as a building requires a solid physical foundation to ensure its longevity and safety, it also necessitates a robust financial structure to provide economic security for its inhabitants. However, a significant challenge within the condominium sector, both in North America and globally, is the underuse of modern technology. This underutilization leads to asymmetric access to information, where essential information flows do not reach all the interested parties who need it to make informed decisions.
In the current paradigm, key stakeholders such as banks financing acquisitions, insurance companies assessing risk, potential buyers evaluating investments, investors, managers, and residents all require access to specific elements of information that affect their interests. The lack of comprehensive and transparent information access can create transparency gaps that erode the financial foundation of condominium management, much like physical neglect undermines the structural integrity of a building.
To address these challenges, we advocate for a new paradigm in condominium management where information is democratized and accessible to all participants. By leveraging modern technology, we can ensure that every stakeholder has the relevant information they need to make informed decisions. This not only enhances transparency but also strengthens the financial foundation of condominium properties, ultimately safeguarding their long-term value and functionality. The adoption of advanced technology solutions can enhance data flow and improve the accuracy and accessibility of information. Digital tools and platforms can bridge the
information gap, promoting a clearer understanding of condominium governance, financial
health, and maintenance needs. Just as physical structures require regular updates, the
informational architectures that support them must also evolve to provide secure, efficient,
and equitable access across all stakeholders.
