$200,000 in the bank sounds like a lot – and it might be, for a 20 unit townhouse complex – but what about for a 300 unit condo tower?
As a Realtor or a prospective condo buyer, reviewing the financial budget for a building is very important. Since buildings come in all ages and sizes, simply looking at the dollar value of major items – like the total budget, the repair % maintenance budget, and the annual reserve contribution – may not be enough.
Buildings of different size and age require different funding levels. Eli looks at major budget items against the total size of a building – that is, we take a budget item, and divide it by the building’s total square footage. This helps put all buildings on a level playing field.
The end result is compelling – Eli presents financial data in a way which gives users the ability to compare one building against other buildings of similar size and age, instantly.
When you generate an Eli Report using our automated strata document review tool, the data is displayed as a simple, clean “speedometer” visualization, allowing you to instantly assess how one building compares to the competition.
Realtors and their clients make more informed decisions with Eli, so get your next report here!