- Tribe's new Property Management Inspections Tool streamlines
site inspections, increasing visibility and improving reporting
measures for Strata Councils and Condo Boards.
- Tribe's asset-light, technology-driven business model ensures
resilience despite global uncertainty driven by U.S. trade policies
and tariffs.
VANCOUVER, BC, Feb. 6, 2025
/CNW/ - Tribe Property Technologies Inc. (TSXV: TRBE) (OTCQB:
TRPTF) ("Tribe" or the "Company"), a leading provider
of technology-elevated property management solutions, today
announces the launch of its proprietary Property Management
Inspections Tool, an innovative feature within the Tribe Home suite
of tools designed to enhance strata and condo property management.
Additionally, Tribe underscores its resilience amidst ongoing trade
uncertainties, highlighting the strength of its asset-light,
technology-driven business model.
Inspections Tool for Strata and Condo Property
Management
Tribe's Property Management Inspections Tool enables property
managers and on-site staff to efficiently log and track common area
issues identified during regular site visits or special
inspections. The tool replaces traditional paper-based reporting,
allowing managers to document findings using their smartphone or
tablet, complete with photos and descriptions, ensuring greater
accuracy and accessibility.
Joseph Nakhla, CEO of Tribe,
commented: "Our management teams conduct regular in-person site
visits, assessing building conditions and ensuring maintenance
needs are met. With our new Property Management Inspections Tool,
we've digitized this process, streamlining knowledge transfer and
enhancing visibility for Strata Councils and Condo Boards."
The Property Management Inspections Tool offers a range of
benefits designed to improve property management. It helps compile
detailed reports, including photos and notes, which are stored
within Tribe Home for easy access by Council and Board members.
Decision-makers can review inspection histories from one visit to
the next, ensuring continuity and facilitating knowledge transfer.
By streamlining property management workflows, the tool reduces
administrative burdens and enhances responsiveness to maintenance
needs. Additionally, it assists in ensuring regulatory compliance
by helping keep track of essential systems, such as fire alarms and
utilities, helping properties adhere to building codes and safety
regulations.
A standard site inspection covers critical property elements
such as hallways, stairwells, elevators, parking areas, building
exteriors, and essential infrastructure including lighting,
drainage, and fire prevention systems. By digitizing these
processes, Tribe enhances operational efficiency and risk
mitigation while empowering Councils and Boards with the insights
needed for informed decision-making.
Resilience During Trade and Tariff Uncertainty
Tribe confirms that ongoing trade uncertainties and potential
tariff escalations between the U.S. and Canada have no material impact on its
business. As the third-largest condominium management company in
Canada, and one of the largest
Canadian-owned providers, Tribe continues to demonstrate resilience
through various economic cycles, including evolving trade
policies.
Joseph Nakhla confirmed, "Ongoing
trade disputes and potential tariff escalations have no material
impact on our business, as our operations are currently entirely
domestic and independent of cross-border trade. Our asset-light
model, localized service delivery, and strong Canadian partnerships
ensure that we remain resilient in all economic conditions. This
further reinforces Tribe as a defensive and attractive investment
opportunity in the property management sector."
Tribe benefits from high recurring revenue of over 85% of total
revenue, generated by long-term management contracts, providing
financial stability and predictable cash flows. Additionally, the
property management industry is characterized by low churn, as
Strata and Condo corporations typically retain their management
providers for extended periods, further reinforcing the resilience
in Tribe's business.
Furthermore, Tribe's marketplace and partnerships are focused on
Canadian-owned businesses and service providers, further
strengthening its position as a preferred choice for communities
and stakeholders looking for stability and continuity in property
management solutions. The Company remains committed to delivering
innovative tools that support transparent governance and long-term
property sustainability while maintaining resilience in varying
economic environments.
About Tribe Property Technologies
Tribe is a property technology company that is disrupting the
traditional property management industry. As a rapidly growing
tech-forward property management company, Tribe's integrated
service-technology delivery model serves the needs of a much wider
variety of stakeholders than traditional service providers. Tribe
seeks to acquire highly accretive targets in the fragmented North
American property management industry and transform these
businesses through streamlining and digitization of operations.
Tribe's platform decreases customer acquisition costs, increases
retention, and allows for the addition of value-added products and
services through the platform. Visit tribetech.com for more
information.
Tribe Property Technologies Inc.
"Joseph Nakhla"
Chief Executive Officer
Cautionary Statement on Forward-Looking
Information
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This news release contains certain statements which
constitute forward-looking statements or information under
applicable Canadian securities laws, including statements relating
to the expected financial results and the Company's goals and
strategy. Such forward-looking statements are subject to numerous
known and unknown risks, uncertainties, and other factors, some of
which are beyond the Company's control, which could cause actual
results or events to differ materially from those stated,
anticipated or implied in the forward-looking statements. These
risks and uncertainties include changes to applicable laws or the
regulatory sphere in which the Company operates, general economic
and capital markets conditions, and stock market volatility.
Although the Company believes that the forward-looking statements
in this news release are reasonable, they are based on factors and
assumptions, based on currently available information, concerning
future events, which may prove to be inaccurate. As such, readers
are cautioned not to place undue reliance on the forward-looking
statements, as no assurance can be provided as to plans,
operations, results, levels of activity or achievements. The
forward-looking statements contained in this news release are made
as of the date of this news release and, except as required by
applicable law, the Company does not undertake any obligation to
publicly update or to revise any of the forward-looking statements,
whether because of new information, future events or
otherwise.
SOURCE Tribe Property Technologies Inc.