When James Andruschat Sr. started his real estate services business over three decades ago, he had one property as a client.
Andruschat Real Estate Services Inc. has grown to 78 properties with around 4,000 condos and townhouses.
“We never advertise or go out and solicit work,” said James (Bo) Andruschat Jr. “It all comes to us through word of mouth, our reputation.”
The business has grown as the number of condos and townhouses locally increased.
Locally, condos and townhouses increased rapidly in the ‘70s and ‘80s. The market’s been a bit stagnant but started picking up again in recent years, in part thanks to regional demographic trends and the housing market.
There are retirements, some of which were accelerated during the pandemic, that lend themselves to condos and townhouses, especially patio homes.
“Condos always reflect carefree living,” said James Andruschat, Sr. “They can just pull in the driveway, shut the door and that’s it.”
But there’s also a growing trend of younger people moving into condos and townhouses. That’s partially due to differing wants, like a desire to have a home without maintenance needs, as well as an existing home inventory shortage which is drawing more people to condos and townhouses.
“I don’t see (this trend) going away or slowing down,” Bo Andruschat said.
Andruschat Real Estate Services, which employs about 24, specializes in providing a range of services for condos and townhouses in Erie and Niagara counties. It’s a segment of the market that’s much different than rental properties and involves working with various community associations and boards with multiple members.
Clients expect the business’ team to wear multiple hats, and the company has a list of referrals for any areas it doesn’t cover. The firm’s services boil down to three main facets: administration, finances and maintenance.
The business is especially known for its financial services, according to CFO Andy Andruschat, son of James Sr. The company has a custom-made financial system set up specifically for accounting for community organizations.
Andruschat Real Estate Services also works with sponsors who build condos to help them certify adequacy of the first-year operating budget, which is an attorney general requirement. That way, when sponsors hand the units over to the owners, they see the real estate service company’s name on the offering plan, which gets a foot in the door.
The company moved late last year to a bigger and better configured office at 5695 Main St., Williamsville.
The business is also starting by the end of this year a sales referral program where it will refer owners to a Realtor or broker who knows the condo business.