Exclusive Financial Services Deliver
As a client of FirstService Residential Virginia, you can take advantage of the services provided by our financial services affiliate, FirstService Financial, Inc. (FFI), which offers comprehensive financial services exclusively to the clients of our FirstService affiliated firms. FirstService Residential manages 5,600 associations in North America, representing over 1.3 million homes and commercial properties – a total square footage of approximately 1.5 billion square feet. Our organization’s size offers opportunities for us to deliver added value to our clients, and while FFI’s services are not mandatory, many associations choose to participate because of the quality and added value they deliver.
FFI offers a suite of financial services including:
- Reserve Program – Designate programs provide above-average interest rates on reserve, capital improvement and escrow accounts
- Lockbox Program – Industry-leading, affordably priced lockbox service programs provide seamless collections for monthly payments, with coupon, paper ACH and online payment options
- Cash Reserves Program – Specially designed for homeowners associations and condominiums, FFI’s Cash Reserves Program offers communities significantly higher earnings than savings or money market accounts, with immediate access to funds
- Lending Services for Associations – As an agent for affiliates, FFI assists association in fulfilling their financing requirements with flexibility and certainty, facilitating or assisting in loan placements in excess of $500 million for cooperative, condominium and homeowners associations
- Commercial Insurance Products
Since 1997, FFI has been bringing value-added services to our affiliated management companies across North America. FFI merged our residential and commercial property management expertise with Worthington Insurance Agency, a full-service insurance brokerage company, to help our clients manage the complex insurance purchase and loss mitigation processes. Worthington works with insurance carriers to increase the number of participants competing in a specific marketplace and/or create new products that meet the needs of its management clients.
- Premium Financing
FirstService Financial Premiums, Inc. (FFIP) is a specialized finance company that provides premium financing products for our commercial insurance policies. FFIP offers competitive interest rates and terms to properties managed by FirstService affiliates.