Korecki Real Estate Services Inc. - Comprehensive Analysis Report

Summary

Korecki Real Estate Services Inc. is a locally owned and operated property management company based in Vancouver, British Columbia, Canada. Established in Richmond in 2009, the company strategically relocated to Downtown Vancouver in 2019 following robust growth. It specializes in Strata and Rental Property Management, overseeing a comprehensive portfolio of more than 300 Strata Corporations, Rental Buildings, and Investment Properties across the Lower Mainland. The company is recognized for its commitment to responsive and professional service, marked by quick response times and a proactive approach to issue resolution. Korecki Real Estate Services Inc. stands out in the industry for integrating advanced technology with personalized client communication.

1. Strategic Focus & Objectives

Core Objectives

Korecki Real Estate Services Inc. focuses on several key objectives to deliver high-quality property management:

Smooth Building Operations: Ensuring all managed properties run efficiently without disruption.

Ongoing Client Communication: Maintaining consistent and transparent dialogue with clients.

Rapid Response Times: Committing to same-day or next-business-day responses for inquiries, and 24/7 emergency response within 15 minutes.

Simplifying Property Management: Streamlining processes for strata councils and property owners through standardized procedures and workflows.

Empowering Long-Term Focus: Allowing clients to concentrate on essential tasks and long-term investment goals by handling day-to-day management complexities.

Specialization Areas

The company's expertise lies in providing high-quality property management services. This is achieved through:

A combination of cutting-edge technology platforms.

Personalized communication tailored to client needs.

Delivering exceptionally responsive and professional service.

Adherence to rigorous standard operating procedures to ensure compliance with relevant acts.

Target Markets

Korecki Real Estate Services Inc. primarily targets:

Strata Corporations

Rental Buildings

Investment Properties

These services are delivered throughout the Lower Mainland of British Columbia, specifically focusing on key cities such as Vancouver, Richmond, and Surrey.

2. Product Pipeline

Key Products/Services

Korecki Real Estate Services Inc. offers a suite of property management solutions designed to meet diverse client needs:

Strata Property Management:

Description: Comprehensive management services for stratas, including administrative, financial, and operational oversight. They ensure compliance with the Strata Property Act.

Development Stage: Fully operational and continuously evolving.

Target Market: Strata Corporations across the Lower Mainland.

Key Features and Benefits: Online access for council members to documents, maintenance calendars, and payment options; efficient tracking of building objectives using project management software; 24/7 emergency support.

Rental Property Management:

Description: Full-service management for individual rental units and entire rental buildings, encompassing tenant relations, maintenance, and financial reporting. They ensure compliance with the Residential Tenancy Act.

Development Stage: Fully operational with continuous platform enhancements.

Target Market: Owners of Rental Buildings and Investment Properties.

Key Features and Benefits: Proprietary Client Property Account System (CPAS) providing owners with online access to property records, budget breakdowns, and maintenance schedules; direct communication support.

Developer Services:

Description: Strategic consultation and support for new construction projects, including budget preparation, building startup procedures, and smooth transition to ongoing property management.

Development Stage: Established service offering.

Target Market: Real estate developers launching new residential or mixed-use projects.

Key Features and Benefits: Early engagement in project lifecycle, ensuring efficient establishment of management protocols and long-term contracts.

3. Technology & Innovation

Technology Stack

Korecki Real Estate Services Inc. leverages a robust technological infrastructure as the foundation of its operations:

Yardi Voyager: An industry-leading accounting and property management software, centralizing accounting, operations, and maintenance management on a mobile online platform. This provides online access to strata documents, maintenance requests, and payment options for owners and council members.

Monday.com: Utilized as a project management solution for tracking ongoing building objectives and meeting directives, ensuring continuity and timely completion of tasks.

Slack: Serves as the primary internal team communication platform, fostering a collaborative "hivemind" approach for operational advice and managing after-hours emergencies, connecting team members to organizational expertise around the clock.

Microsoft SharePoint and SharePoint Workflows: Ensures accurate filing of strata records and systematic workflows for various document types, from bylaw complaint validations to contract management, guaranteeing proper oversight and compliance.

Cloud Storage, VOIP Phones, and VPN Network Access: These services enable the team to operate seamlessly from any location, supporting a fully digital company model and providing senior management with comprehensive oversight.

Proprietary Developments

Client Property Account System (CPAS): A custom-built online portal that provides owners with secure online access to comprehensive property records, detailed budget breakdowns, and maintenance calendars specifically for rental management. An additional online portal provides instant access to property information for owners and council members.

Scientific Methodologies

Rigorous Standard Operating Procedures (SOPs): Developed to ensure client compliance with key regulatory acts such as The Strata Property Act, The Residential Tenancy Act, and the Real Estate Services Act.

Data Security Protocols: All data is securely stored within Canada and encrypted to industry standards, with network infrastructure designed and managed by local professionals.

Technical Capabilities

The company's technological capabilities ensure:

Timely access to critical information for clients and staff.

Collaborative internal team communications.

Efficient task tracking and management.

A mobile-friendly online platform for all stakeholders.

Compliant and organized document filing.

4. Leadership & Management

Executive Team

Korecki Real Estate Services Inc. is owned and operated by a dedicated husband-and-wife team:

Alex Korecki: Owner and Operator. Licensed through the Real Estate Council of British Columbia.

Vesna Korecki: Owner and Operator. Licensed through the Real Estate Council of British Columbia.

Key Licensed Professionals

The company's team includes a dedicated group of licensed professionals:

Mehrbod Alavi

Victor Samuel Andres (recognized for expertise and quick response times as a Property Manager)

Krystal Gem Madrid Baliguat

Nicolae Andrei Barbu

Matthew Francis Buck

Nicholas Morgan DaCosta

Gwen Elizabeth Dunbar

John Maurice Fowler

Aleksandar Korecki

Samantha Lauren Lewis

Matthew Michael Lewis

Christopher James Malkin

Manila Kumar

Sjell Carl Torsten Norlander

Tse Ming Pan

Daniil Polyakov

Barbara Cynthia Santander

Yogesh Sunilkumar Sotra

Maria Christa Brito Villadolid

Peng Zhou

5. Talent and Growth Indicators

Hiring Trends and Workforce

Korecki Real Estate Services Inc. maintains a friendly and collaborative work environment where staff members are highly valued, and the owners are approachable. The company's workforce ranges between 11 and 50 employees. Due to continuous growth in its Strata Property Management and Residential Property Management portfolios, the company is actively seeking to expand its team with qualified and ambitious professionals. At least one job opening is currently being advertised.

Company Growth Trajectory Indicators

The active recruitment efforts and the significant growth of their property management portfolio signal a strong upward growth trajectory for the company.

Employee Sentiment and Culture Insights

The company fosters a positive internal culture, characterized by collaboration and approachability from senior management, which contributes to a supportive work environment.

Company Size and Expansion Metrics

As of December 2020, average reported salaries (on Indeed) for various roles within the company included:

Receptionist/Administrative Assistant: Approximately $41,318 per year

Administrative Assistant: Approximately $45,802 per year

Accounts Payable Clerk: Approximately $49,752 per year

Property Accountant: Approximately $55,138 per year

Property Manager: Approximately $68,446 per year

6. Social Media Presence and Engagement

Digital Footprint

Korecki Real Estate Services Inc. maintains an active presence across various social media platforms to engage with its community, share updates, and reinforce its brand messaging:

Facebook: [https://www.facebook.com/koreckirealestateservices/](https://www.facebook.com/koreckirealestateservices/)

Twitter: [https://twitter.com/koreckireal](https://twitter.com/koreckireal)

LinkedIn: [https://www.linkedin.com/company/korecki-real-estate-services-inc-](https://www.linkedin.com/company/korecki-real-estate-services-inc-)

Instagram: [https://www.instagram.com/koreckirealestateservices/](https://www.instagram.com/koreckirealestateservices/)

Brand Messaging and Positioning

Through its digital channels, the company emphasizes its core values of professionalism, responsiveness, technological integration, and a client-focused approach to property management.

7. Competitive Analysis

Major Competitors

Korecki Real Estate Services Inc. operates within a competitive landscape primarily consisting of other property management firms in the Lower Mainland of British Columbia. Key competitors include:

Locally Owned and Operated Property Management Companies: Firms specializing in strata and rental management with a strong local presence and understanding of the regional market dynamics.

Larger National or International Real Estate Firms: These firms often have local branches offering similar strata, rental, and developer services, leveraging brand recognition and extensive resources.

The competitive landscape encompasses companies offering comprehensive strata, rental, and developer services across Vancouver, Richmond, and Surrey.

8. Market Analysis

Market Overview

The real estate services market in Vancouver and the broader Lower Mainland is characterized by its dynamic nature, driven by continuous population growth and proactive urban planning initiatives. This creates a sustained and growing demand for specialized property management services.

Growth Potential

Vancouver: With a population of 662,248 in 2021, estimated to grow to 765,000 by 2041, the city is aggressively focused on increasing housing options and density, ensuring a robust market for strata and rental management.

Richmond: Reported a population of 230,548 in 2022, experiencing high immigration rates and a significant surge in demand for housing, particularly condo units, which require extensive strata management.

Surrey: Recognized as one of Canada's fastest-growing cities, its population was 568,322 in 2021. Surrey is undergoing substantial new construction across residential, commercial, and institutional sectors, creating ample opportunities for property management.

Key Market Trends

Population Growth: Continuous demographic expansion across the Lower Mainland fuels the demand for new housing and, consequently, professional property management services.