As the property management leader, FirstService Residential Pennsylvania can develop effective cost containment programs that can directly benefit your community’s bottom line.
One way we achieve this is by leveraging our reputation, size and vendor relationships – along with the combined buying power of our parent company, FirstService Residential – to negotiate and obtain preferred status and lower rates for your community’s necessary services.
Identify Cost Savings
Our comprehensive review of your financials includes a cost-benefit analysis to identify potential service improvements and areas for potential savings in your Association’s operating budget. This includes:
- Reviewing your property’s budget and comparing against similar properties to determine if you are overpaying for any goods and services
- Performing periodic audits to ensure the best pricing from suppliers
- Detailed analysis of the Association’s insurance policies to ensure coverages are adequate and you are not overpaying premiums
- Negotiating the best in-market rates and passing the savings along to you
- Identifying utility audit savings
- Reviewing collection practices and recommending strategies for improving collection rates
- Implementing a Contract Review process to ensure best service and pricing
- Providing bid analysis system to ensure “apples to apples” comparison of all vendors
Our goal is keep management fees as competitive as possible, without reducing our high level of service. In fact, our clients’ typical savings result in an efficient return on investment for their associations – and in many cases, the savings we identify exceed our management fee.
We also offer the exclusive, high quality financial services of our affiliated company, FirstService Financial, Inc. (FFI), which can deliver above-average interest rates on your investments.
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