FirstService Financial provides best-in-class financial services for properties managed by FirstService Residential. Our in-house affiliate comprises a team of financial experts with unique experience serving condominiums, cooperatives, mixed-use buildings, residential boards and multifamily building owners. Their broad knowledge base combines the capital markets and treasury management expertise of a bank with a rare and in-depth understanding of real estate and insurance fundamentals.
At FirstService Residential, our consistent investment in subject matter experts allows us to create meaningful value for our clients through advisory services, individually tailored financial solutions and insurance product offerings that set the industry standard.
Reserve Funding & Investment SolutionsFirstService Financial proactively evaluates FirstService Residential clients’ reserve portfolios to maximize interest income on deposit balances with FDIC-insurance coverage. With billions in deposits placed at commercial banks specializing in real estate, the FirstService Financial team is able to negotiate favorable rates for our clients. In 2021, the team helped FirstService Residential clients generate over $5 million in additional interest income.
Learn more about our cash maagement solutions for boards and building owners.
Lending SolutionsFirstService Financial also negotiates loans for FirstService Residential clients that yield lower interest rates and better terms than buildings can typically obtain on their own. In 2021, the team closed 50 loans at $250 million of total debt for our clients. They also negotiated interest rates that averaged 0.50% below the industry average, resulting in more than $1.5 million in annual interest savings for our clients.
Learn more about our strategic lending solutions.
Exclusive Property and Liability Programs for FirstService Residential NYC PropertiesFS Insurance Brokers, a subsidiary of FirstService Financial, is a full-service insurance brokerage that specializes in serving multifamily residential buildings in the New York metropolitan area. This includes rental properties, cooperatives, condominiums, boards of directors and building owners. From analysis, strategic planning and program design to alternative risk financing, loss control and claims management, our in-house team provides a comprehensive set of insurance products and services that help clients more efficiently manage risk and reduce claim exposure.
FS Insurance Brokers has co-brokered over 3,200 placements for our clients, saving them over $5.5 million in annual insurance premiums.
Mitigating Board Liability & Personal ExposureThis first installment of our Mitigating Board Liability & Personal Exposure series reviews the most common claims levied against co-ops and condos and the insurance policies designed to protect them.
Click here to learn more for our in-house legal and insurance experts.