Key takeaways
How condo boards can protect their projects
- Remember who you are working for. Condo corporations are not-for-profits saving money together, so every dollar of scope creep comes out of owners’ pockets.
- Separate needs from wants. A failing boiler or exposed building envelope is a need. Lisa helps boards fund those first and plan the rest.
- Vet contractors deeply. Lisa checks a contractor’s subtrades, visits past job sites, and learns who the real point of contact will be.
- Watch for three big risks. Scope creep, unpaid subtrades that can lead to liens, and markups above about 20% are the issues she sees most often.
- Keep communication open on every side. An owner’s representative smooths the flow of information between boards, property managers, and trades.
About the guest
LM
Lisa McGrath
Owner and Lead Consultant, LPM Enterprises
Lisa owns LPM Enterprises, a construction consulting firm that acts as an owner’s representative for condominium corporations in Alberta. Her background includes trades administration, condo property management, helping run a construction and landscape company, and serving as director of operations for a restoration company. She is a certified water restoration technician.
Episode summary
In this episode
Lisa McGrath bought a condo in 2006, went through several property managers, and decided to become one herself. That led to years in condo management, running the business side of a construction company, and leading operations for a restoration firm, where she saw how often condo owners were taken advantage of.
She explains how LPM Enterprises works as a project manager, owner’s representative, and change order manager for condo boards, and how she vets contractors. She also shares the mindset that carried her through adversity and why property management is all about people and critical thinking.
Lisa covers the biggest construction risks for condo corporations, advice for people entering construction consulting, the trends she sees in Alberta construction, and the book that changed how she thinks about money.
Chapters
- 0:00Introduction
- 1:31Lisa’s story
- 6:53Mindset and resilience
- 14:19What sets LPM Enterprises apart
- 16:23How LPM works with condo boards
- 18:06Lessons from condo property management
- 20:38Advocacy during remediation
- 23:07Giving back through industry groups
- 25:09Biggest construction risks for condos
- 29:22Advice for construction consultants
- 31:40The most rewarding part
- 32:43Trends in Alberta construction
- 37:34What’s next for LPM
- 39:19Dream project
- 41:09Book recommendation
Jump to a chapter (15)
- 0:00Introduction
- 1:31Lisa’s story
- 6:53Mindset and resilience
- 14:19What sets LPM Enterprises apart
- 16:23How LPM works with condo boards
- 18:06Lessons from condo property management
- 20:38Advocacy during remediation
- 23:07Giving back through industry groups
- 25:09Biggest construction risks for condos
- 29:22Advice for construction consultants
- 31:40The most rewarding part
- 32:43Trends in Alberta construction
- 37:34What’s next for LPM
- 39:19Dream project
- 41:09Book recommendation
From the conversation
Transcript excerpts
We want to make sure all the lines of communication are open. We want to take our client’s vision and make it a reality. We want to do that with their budget.
Lisa McGrathPlay from 0:25
Everybody has their problems but you determine what your story is. There are parts of your story that you don’t dictate but your outcome is what you dictate.
Lisa McGrathPlay from 0:34
That’s what property management is. It is prioritizing peopling and critical thinking…
Lisa McGrathPlay from 2:28
Need a cleaning partner your condo board can trust?
We’ll walk your building with you and send a written cleaning scope and price. Free, no obligation.
Read the conversation
Full episode transcript
Show transcript
Paste the edited transcript here.
FAQ
Questions about this episode
What are the biggest construction risks for condo corporations?
Lisa sees three: scope creep that adds work mid-project, contractors who do not pay their subtrades, which can lead to liens on the property, and markups that climb well above 20% by the end of a job.
What does a condo owner's representative do?
LPM Enterprises acts as project manager, owner’s representative, change order manager, and assistant for condo boards. Lisa vets contractors, keeps communication open, reviews invoices, and makes sure the project stays within budget.
What book does Lisa recommend?
The Psychology of Money by Morgan Housel. She says it shows how emotional money is and how patience matters more than chasing instant results.
More episodes from the podcast
Adam Ludgate of Cirkuit: How Smart Sensors Are Changing Building Operations
Adam Ludgate of Cirkuit explains how wireless sensors catch water leaks within minutes, why insurers are starting to pay attention, and where older buildings should start.
Marty Connelly: 45 Years of Family, Integrity & Condo Management Leadership
Marty Connelly shares what 45 years of family-run condo management in Calgary taught him about responsiveness, hiring, and keeping a personal touch across 100+ properties.
Maria Bartolotti: Resilience, Leadership & Building One of Calgary’s Leading Condo Management Firms
Maria Bartolotti of New Concept Management on nearly leaving the industry, educating condo boards, preventing burnout, and recruiting Alberta’s next condo managers.