But in times of disaster, we also spring into action to provide immediate support to our residents and communities. One example of this occurred in late 2012 when Hurricane Sandy caused devastation throughout New York and New Jersey. The storm caused significant damage to approximately 200 properties managed by FirstService Residential, as well as considerable hardship for residents and their families.
However, just a few days after the storm hit, FirstService Residential established a $10 million emergency Hurricane Recovery Fund to help affected properties begin making repairs before their insurance claims were finalized. Thanks to this immediate funding, our residents and their families were able to begin the recovery process and start getting back to their daily lives.