Tribe Announces Launch of Proprietary Inspections Tool for Property Management; Highlights Business Resilience Amidst Trade and Tariff Uncertainty
- 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.
For more information, please contact: Pardeep Sangha, Investor Relations, Email: [email protected], 604-572-6392; Jennifer Laidlaw, Media Relations, Email: [email protected], 604-398-4161
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