FirstService Residential Establishes $10 Million Recovery Fund for Properties Damaged by Hurricane Irma
The short-term loans will be available to managed properties affected by Hurricane Irma to bridge working capital requirements and begin repairs while waiting for insurance claims to be realized.
“As a national company with deep roots in Florida, we’re able to offer immediate relief to our communities dealing with the aftermath of this catastrophic event,” said David Diestel, Regional President, FirstService Residential, South. “Our top priorities are ensuring the safety and well-being of residents and helping restore their communities as soon as possible.”
FirstService Residential established a similar fund for short-term loans after Hurricane Harvey devastated Houston a little more than a week ago. The $10 million recovery fund will be administered by FirstService Financial, an affiliate of FirstService Residential, and is available to eligible properties immediately.
“With an event of this magnitude, many homeowners and residents may feel overwhelmed and worry that the road to recovery is too great. We want them to know that there is a way back, and we will be there for them every step of the way,” said FirstService Residential CEO Chuck Fallon. “By providing these funds, we’re making the first step in this challenging recovery a little easier for associations to navigate and ensuring that they know they’ll have our support throughout this streamlined process.”
About FirstService Residential
FirstService Residential is North America's largest manager of residential communities and the preferred partner of HOAs, community associations and strata corporations in the U.S. and Canada. FirstService Residential's managed communities include low-, mid- and high-rise condominiums and cooperatives, single-family homes, master-planned, lifestyle and active adult communities, and rental and commercial properties.
With an unmatched combination of deep industry experience, local market expertise and personalized attention, FirstService Residential delivers proven solutions and exceptional service that add value, enhance lifestyles and make a difference, every day, for every resident and community it manages. FirstService Residential is a subsidiary of FirstService Corporation, a North American leader in the property services sector. For more information, visit www.fsresidential.com.