As part of our full-service property management solution, we deliver quality financial services. Our centralized database and internal controls ensure proper entry, withdrawal and monitoring of your funds. FirstService Residential in Alberta collects condominium contributions from homeowners and deposits them in the condominium corporation’s trust accounts.
Our managed communities benefit from our relationships with major financial institutions in several ways. In addition to the interest paid on reserve fund bank accounts, our managed corporations also earn interest on operating bank accounts. In addition, they save money because bank fees are not charged on operating or reserve fund accounts.
A third-party financial consultant analyzes the financial requirements of the reserve fund and prepares a report on the best, safest and most secure investments for our clients, ensuring all funds are covered by the Canadian Deposit Insurance Corporation (CDIC).
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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