February 9, 2016 - RGCQ is looking for syndicates of co-owners to participate in a trial project, leading ultimately to the creation of the Condo Index. The latter will become an indicator of the financial performance of a co-ownership. The Condo Index is the next logical step after the creation by the RGCQ of the standardized chart of accounts.
This accounting charter aims to standardize financial information, to facilitate the comparison between the numerous accounting items of a co-ownership, such as those devoted to condo fees, the contingency fund and energy expenditures.
After this standardization, it will become possible to calculate the Condo Index, by comparing the expenses of a co-ownership with others. A general index will give an overall assessment of the co-ownership, while sub-indices will identify its strengths and weaknesses.
The RGCQ will thus be able to help co-ownerships better manage their various budget items, which could allow substantial savings in some cases. In short, the syndicates of co-ownership who join the Condo Index will enhance their credibility, will participate in the enhanced management and conservation of their real estate and could attract more buyers.
For further information on this trial project, or to participate, contact the RGCQ at the following number: 514 916-7427 and visit the website of RGCQ at https://rgcq.org/indice-condo/
Montreal, February 9, 2016
