Value Added Services

We leverage our scale to create value for our clients in Energy, Insurance, Financial Products and Loan Placement Services.

FS Energy

In 2008, we launched FS Energy with a commitment to reduce energy costs across our portfolio. FS Energy is a knowledge leader in multifamily energy efficiency. FS Energy takes a unique, holistic approach to energy management by applying state of the art data analysis to evaluate a property's energy consumption. We then customize cost-effective solutions that reduce energy expenses, boost efficiency and shrink environmental impact. Since inception, we have reduced energy costs significantly across our clients' properties.

The core of our success is our proprietary, industry-leading FSdata benchmarking database, which comprises years of comprehensive historical data for hundreds of residential and commercial buildings representing a variety of diverse building types.

FS Energy provides a suite of comprehensive solutions including:

  • FS Data benchmarking
  • Procurement
  • Demand management
  • Retrofits and capital improvements
  • Education and compliance
  • Energy efficiency solutions
  • Energy assessments
  • Billing Audits

FirstService Financial

In 1998, we established FirstService Financial to leverage our size and expertise to create value for our property management clients. Over the years, our focus at FirstService Financial has narrowed to three areas that provide tangible value while creating significant competitive advantages for our operations: Insurance, Financial Products and Loan Placement Services.

Insurance

We manage over 7,400 residential properties in North America with an estimated insured value of $140 billion. Our extensive database tracks all policy and claims information across that portfolio. We have leveraged the data and commissioned actuarial reports that demonstrate our managed properties have better long-term claims experience than the broader market. This unique data enables us to offer risk management solutions that are unmatched in terms of coverage and price.

During 2015, we completed insurance placements with over 3,500 clients, in each case offering better coverage at lower cost. Insurance costs are a substantial component of our clients' operating budgets, averaging 10%. Our ability to reduce this cost has delivered significant value and created a tangible differentiator for FirstService.

Financial Products

Each of our 7,400 North American clients have operating bank accounts and most have separate reserve and escrow bank accounts. We have consolidated these separate accounts into select top tier banking institutions, creating value for our clients by eliminating bank fees on operating accounts and delivering significantly higher interest rates on reserve and escrow funds.

The average daily deposits in our partner banks grew to over $2.8 billion in 2015. The consolidation of these accounts created more than $10 million in value, either through incremental returns to our clients or the elimination of fees. Our efforts to help our clients better manage their cash deposits has delivered significant value to them while creating another tangible differentiator for FirstService.

Loan Placement Services

Working with affiliates across North America, FirstService Financial has facilitated or assisted in annual loan placements in excess of $250 million for Cooperative, Condominium and Homeowner Associations. As an agent for our affiliates, FirstService Financial assists Associations to fulfill their financing requirements with flexibility, certainty and simplicity. By soliciting proposals from banks, insurance companies and other lenders to provide new financing or refinancing at the most competitive interest rates and terms currently available, FirstService Financial leverages its size and depository relationships to deliver a superior product.