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Smart Contracts for
condo service charges

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What is Condinium?

Condinium is the world’s first decentralized property management platform for shared residential or commercial communities such as condos, HOAs and commercial properties such as retail malls. It gives control back to the owners without the need for expensive property management agents or unscrupulous HOA boards.

Save money

Saves $ 000’s

Condo owners save $000s each year in maintenance charge payments with Condinium. Condinium eliminates the need for external property managers

Transparency

Transparency

Full transparency of all costs incurred, and accurate cost projection forecasts that enable improved budget planning

Dispute Resolution

Dispute Resolution

Cost effective and fast dispute resolution that eliminates the need for costly legal advice or litigation proceedings

Community Empowerment

Community Empowerment

Improved communities and friendlier neighborhoods as members connect and manage their condo facilities and common areas

Governance

Governance

All members of the condo community are responsible for governance and oversight for all matters relating to expenditure and the state of common amenities

Repairs & Maintenance

Repairs & Maintenance

Speed and value for money repairs and maintenance request that are raised by owners.

Solving real problems affecting millions of property owners

  • Which magazine - "Leaseholders losing out to the tune of £700m a year because of excessive fees and hidden costs contained within their service charges.”.

    $120 billion overcharging

    Condo owners are being overcharged billions of dollars each year in excessive maintenance charge fees which are estimated to be as high as 60% above fair value

  • Report of unscrupulous landlord charging £2000 for shower

    Zero transparency of costs

    Condo owners have no mechanism to determine whether the costs they are incurring for maintenance and repair of their condo amenities represent competitive fair value

  • Average cost of dispute in the USA is $10,000. In the rest of the world it is on average at least $2000

    Costly legal disputes

    When disputes arise in condo communities they can be ugly affairs that are very expensive, stressful and time-consuming

  • 6 weeks is the average time it takes to undertake basic repairs

    Repairs and maintenance that are time consuming

    Condo owners are unable to raise repair and maintenance requests without having to go through their central HOA committee or a property manager. Not only does this cost more money but it takes an average of 6 weeks before works are carried out

  • Condo insurance coverage and premiums are a black box for most owners

    Complex insurance coverage and claims

    Understanding what is covered by the condo community insurance and personal building insurance is complex process. Usually condo owners do not have the level of cover they expected or thought they had which results in unexpected costs being incurred


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