Banking and Insurance Programs
We offer premium financial services as part of our full-service property management approach. Our centralized database and internal controls ensure that funds are correctly, entered, removed, and tracked. FirstService Residential Alberta receives condominium contributions from homeowners and transfers them into the trust accounts of the condominium company.
There are many benefits in regard to partnering our managed communities with major financial institutions. Along with the interest paid on reserve fund bank accounts, our managed corporations also earn interest on operating bank accounts. Lastly, bank fees are not charged on operating or reserve fund accounts, which saves money.
A third-party financial consultant will prepare a report on the best, safest, and most secure investment for our clients after examining the financial requirements of the reserve fund.
As Alberta's largest condominium management company, we can also frequently obtain favourable rates on insurance premiums. Our relationship as a major client of insurance underwriters and adjusters improves your community's access to quality insurance products.
On your behalf we can:
Arrange for required replacement cost appraisal
Process insurance claims quickly and efficiently
Ensure your board is aware of the insurance requirements of your bylaws and the Condominium Property Act of Alberta
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