Why Flat-Rate Condo Management is DEAD (And What's Replacing It)

Val Khomenko, Director of Condominium Management at TSE Management Services Inc., joins Property Leaders Podcast host Miryam for a candid conversation about where condo management is headed — and why the industry needs a serious shake-up. Val doesn't hold back: from why the flat-rate management contract is unsustainable, to how emergency charges could change everything, to the creative retention strategies keeping managers from jumping ship. Plus — field trips to fan coil factories and pulling fire alarms. Yes, really. Whether you're a property manager, board member, or just curious about the condo industry, this one's packed with real talk and practical insight. 📌 TIMESTAMPS 0:00 – Intro & Meet Val Khomenko 0:23 – How Val got into condo management (the law school backstory) 2:17 – Working in the same industry as his dad — without working together 2:16 – What changed pre vs. post-COVID in management 4:53 – Do you miss getting phone calls? 😄 6:06 – What's the growth ceiling: people, process, or tech? 6:23 – Keeping it personal in a digital-first world 10:11 – How client/resident expectations have skyrocketed 11:35 – Response times, service requests & the digital shift 12:40 – Residents working from home = more eyes, more requests (and why that's a good thing) 16:40 – "I didn't want to bother you" — the phrase that changed everything 17:51 – How to turn headaches into revenue: extras & emergency charges 19:22 – Why the condo management agreement is broken 20:23 – The case for charging emergency response fees 24:21 – Transparency in bidding & the TSE approach to service add-ons 27:04 – The future of condo management: a la carte services 29:34 – Menu-style contracts — pick your services like a restaurant 31:06 – What new vs. established communities actually need 34:26 – How to grow your portfolio — strategically 37:09 – Education, field trips & hands-on training (fan coils, fire alarms & sprinklers 🚿) 40:55 – Retention strategies: wellness days, profit sharing & referral fees 46:01 – The era of the 40-year building manager is OVER 48:15 – What TSE does differently to retain staff 51:11 – One piece of advice for growing your portfolio 56:22 – 5-year vision & how to get into the industry 58:33 – ⚡ Rapid Fire: Trade shows, blood/fire/flood, and the hardest condo pillar 🔔 Subscribe for more real conversations about condo management, leadership & the future of property management in Canada. 🎙️ Guest: Val Khomenko | Director of Condominium Management, TSE Management Services Inc. 🎤 Host: Miryam | Property Leaders Podcast #CondoManagement #PropertyManagement #RealEstate #TorontoRealEstate #CTRLPodcast #CondoLiving #PropertyManager #LeadershipTips #PropTech #HousingInCanada