Making a Difference. Every Day.
Making a Difference. Every Day.
FIRSTSERVICE RESIDENTIAL NEW YORK CITY’S LEADER IN PROPERTY MANAGEMENT
Every day, we work hard to make a difference for the board members, residents and properties we serve. Our team is committed to delivering exceptional service and proven solutions that maximize property values and provide an exceptional quality of life for every resident.
Our decades of experience managing properties in New York City, combined with our ability to deliver exclusive programs and personalized service, have made us the industry leader. Our philosophy is to put the right team in place to meet the requirements of your property. When you partner with us, you can be sure that every member of your team has the specialized knowledge, experience and training to understand and fulfill your property’s needs.
LET US SHOW YOU HOW WE CAN HELP YOUR PROPERTY.
OUR COMPANY AT A GLANCE Our management portfolio consists of more than 500 properties—from luxury condominium towers and new developments to prewar landmark cooperatives and sprawling apartment complexes. Our 30 years of hands-on experience managing properties of every type and size has given us the knowledge and expertise to effectively meet the demands and challenges of any multifamily property, including yours. Fires, floods, and façade collapses. Hurricanes, power outages, and nor’easters. Bedbugs, Legionnaire’s disease, and suspected Ebola. No other management company is more qualified or better prepared to anticipate and tackle the challenges and issues that can arise at your property. Our professional staff, reputation for quality, and industry leadership have helped FirstService Residential earn recognition as Management Company of the Year by our industry’s most prestigious trade organizations, including the Association of Owners and Builders of New York, the Institute of Real Estate Management, and the Federation of New York Housing Cooperatives & Condominiums.
Held to the Highest Standards We are among a select group of management companies designated as an Accredited Management Organization (AMO) by the Institute of Real Estate Management, which requires that we maintain the highest standards of professional service, financial stability, and adherence to a strict code of ethics.
Your team has been efficient and responsive with settling ownership of my co-op. They are to be recognized not only for their high level of professionalism but for the heart they bring to their work—a rare combination in the world of business. I felt supported through every step. In this big city where we often lose that valued small-town feel, they bring the human touch to FirstService Residential.” – SHAREHOLDER
Your staff is always pleasant, attentive and helpful. I've lived in New York City for seven years and of the three management companies I've had, FirstService Residential is the best by far!” – UNIT OWNER
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OUR COMMITMENT TO CLIENT SERVICE
I wish to highly commend our property manager for his superb response to the smoky apartment fire on Friday night. As the FDNY relinquished control, he took immediate command to ensure critical tasks were performed, expedited insurance involvement, updated residents that evening, and arranged building-wide smoke odor abatement so that the building was essentially back to normal by Wednesday. The Board is very appreciative of the very efficient and professional way this crisis was handled. Thank you for ensuring that FirstService Residential provides this quality of experienced management.” –BOARD PRESIDENT
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Relationships based on respect, trust, and communication are key to effective management and are the cornerstone of our success.
At FirstService Residential, we pride ourselves on strong relationships with our boards and residents. Every member of our team is committed to delivering responsive, genuinely helpful customer service. That’s why the resources dedicated to managing all aspects of your property are handled by our in-house team of professionals—never outsourced.
24/7 Customer Care As part of our service, we offer a 24-hour phone-in Customer Care Center to provide residents with answers and information, day or night. Our trained specialists have access to a database of information about your property— from the latest updates on capital improvement projects and service interruptions to its policies and procedures. Our goal is to resolve issues and inquiries at the initial point of contact.
Providing answers and information to our residents 24 hours a day.
Advanced Technology Our proprietary website portal, FSRConnect™, facilitates communication between board members, residents, and your property management team by providing instant, secure access to services and building information. FSRConnect’s advanced management and documentation tools enable users to perform numerous activities. Property managers use the system to issue notices and create and track work orders. Board members can log in to view monthly reports, financials and minutes. Residents can access a portal to pay their monthly fees, view the building’s events calendar, download forms, check maintenance schedules, and communicate directly with management. Our Connect Mobile app provides instant access to these features from your phone. The system’s Resident Alert mass communication tool enables your property manager to issue alerts—by email or phone— notifying residents of both emergency situations or general announcements.
Provides front desk access control
Tracks work orders
Facilitates residents’ monthly payments
Maintains a log of all management-related calls from residents
Provides residents with building information, documents, forms and community news
Allows residents to view their information online 24/7
Integrates our accounting, payroll, human resources and information technology functions
Provides residents and boards easy access to monthly management reports, building financials, and minutes
Our property manager completely asserted the co-op’s position and rights with a shareholder without incurring further attorney costs. Her gentle, professional manner fused with a no nonsense attitude is exactly the blend of management style needed to maintain the integrity of our building while safeguarding the quality of life for our shareholders.” – BOARD OF DIRECTORS
Thank you for setting a new tone at the annual meeting. You bring presence, professionalism and competence to our building.” – BOARD PRESIDENT
(including account balances and service requests)
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Training and Education Keep Your Property Running Smoothly
You folks are indeed ‘first service.’ You always respond to a request in the shortest time frame with utmost efficiency and clarity. How lucky we are to have you!” – SHAREHOLDER
You inherited our building with a difficult board, difficult owners and many problems, yet our property manager is doing a fantastic job to get us back on our feet. In spite of the overwhelming calls and emails he receives, he puts in extra hours on his own time to ensure our problems receive closure. I would not have the patience and calm manner to handle the problems he faces daily in such a wonderful way. He is a 120% asset to your organization.” – BOARD PRESIDENT
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FirstService Residential property managers and building personnel receive industryleading education and training to remain current and consistently deliver high quality service. Our classroom educational courses are complemented by hands-on experience in our stateof-the-art Learning Center (pictured), where our teams undergo practical training and certification in building systems and operations. In addition, building personnel can receive five-star, hotel-style customer service training to ensure complete customer satisfaction. Upon engagement, we will conduct a thorough review of personnel and evaluate how their responsibilities align with building operations. We will oversee their performance and coordinate work assignments so the staff provides residents with the optimal level of service. We will also prepare a Guide to Staff Services for your building that includes staff guidelines, work schedules, job descriptions, standard operating procedures, and our proven best practices for building operations.
Board Member Resource Guide: An Essential Reference Tool We will prepare a customized Board Member Resource Guide for you. This comprehensive reference book includes current and recent years’ financial information, status of pending projects, goals and achievements, service contract analyses, insurance information and schedules, and regulatory compliance reports. It also contains laws and rules related to board responsibilities and conduct, as well as all of your building’s governing documents.
OUR SERVICE ADVANTAGES Your property management team will work closely with you to understand your needs and goals and create a strategic plan for achieving your vision. Each apartment in your property is a valuable real estate asset. That’s why we expertly manage your amenities and common areas to maximize curb appeal and marketability. Our “best practices” management approach ensures your property’s success, adding value and enhancing quality of life.
Online Processes Reduce Time, Increase Efficiency Through our online sale and lease Online request system for: application process, applicants submit and track the status of their application • Board applications online. Applications are reviewed by • Bank and appraiser questionnaires our experienced team of processors and completed packages are sent • Offering plans and amendments to the board within three business • Certificates of days. Board members can review Insurance applications along with all supporting documents, then choose to accept or reject the applicant with just a few clicks of the mouse— all via a secure portal.
Service Provider Certification Protects the Interest of our Clients We are extremely selective in choosing only the highest quality vendors to serve your property—those who share our commitment to integrity, cost-efficiency and exceptional service. We utilize an independent credentialing firm to manage our vendor certification process to obtain from service providers proper licenses and proof of insurance.
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Frequent Building Inspections Reduce Major Expenses
We appreciate and admire our managing agent. We had a dangerous electrical situation in our building yesterday. He was on top of it, working hands-on with the electricians, Con Edison and our building staff. Had the situation not been rectified quickly, we risked a fire or, even scarier, an explosion. He stayed into the evening and kept us in the loop as the crisis unfolded and was ultimately solved.”
Our managers will regularly visit your property and conduct full-scale inspections with photo documentation— instantly uploaded to FSRConnect—to promote the smooth operation and appearance of systems, equipment, and common areas. When concerns are found, work orders are issued immediately to mitigate damages. We perform routine maintenance and repairs when issues are relatively small, rather than delaying and risking major expenses later on.
Better Terms and Pricing With Banking and Mortgage Programs Our affiliate, FirstService Financial, offers programs exclusively to our clients and can secure preferred terms and pricing for your building’s banking programs. FirstService Financial leverages the bank accounts of thousands of clients into select top tier financial institutions. This creates value by eliminating bank fees on operating accounts and delivering above-average interest rates on reserve, capital improvement, and escrow accounts. In addition, FirstService Financial uses sophisticated analyses to evaluate multiple loan opportunities and obtain the best terms for your property.
– BOARD PRESIDENT
Complimentary Move-in Assistance for Residents Thank you for helping us secure a cost-free energy efficient lighting upgrade through Con Edison. The new lights and fixtures really make a difference inside and outside the building.” –BOARD PRESIDENT
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All residents moving into a FirstService Residential managed property are eligible for complimentary move-in assistance from our affiliate, Abigail Michaels Concierge, to manage utility transfers and activation. As authorized agents for telecom providers Verizon, Time Warner and RCN, Abigail Michaels has priority access to expedite and book installation appointments. Virtual concierge service—including restaurant reservations, event tickets, lifestyle classes and programs, and more—are available to your building for an additional fee.
Financial Management and Reporting Provide a Roadmap to Success By providing full-service financial management for your property, we create an integral roadmap for its continued growth and success. With a commitment to accuracy and timeliness, our experienced team of financial managers: • Works with you to develop operating and long-term capital budgets • Provides comprehensive monthly reports with forecasts of future cash flow • Tracks expenses and explains variances against budget • Prepares required documentation, including audit preparation • Plans capital improvement financial models • Employs an online system to receive, review, approve, and pay invoices
The Finance Committee is very impressed with our Financial Manager. She is smart, knowledgeable, pleasant, and just terrific. I feel confident that she will lead us in the right direction.” – BOARD PRESIDENT
Our state-of-theart systems and accurate, timely transactions reduce delinquencies and facilitate cash flow.
• Electronically tracks and processes building staff payroll • Provides alerts to prepare you for changing market and financial conditions Our proven system of checks and balances accurately records each transaction. As an added benefit, we will further strengthen your building’s financial stability through proven cost containment and collection services. To facilitate payment of monthly fees by residents, we accept multiple payment options including lockbox, auto debit, echeck (ACH), and credit card. As part of our commitment to environmentally sound business practices, residents can elect to receive their monthly statement electronically.
Since the change in management, I had the opportunity to interact with my property manager on a billing and maintenance issue. I am writing to share how impressed I was with her professional demeanor, timely response and courteous manner. It is refreshing to have someone of her intellect and caliber in the role. I applaud you for having such a capable associate representing your team.” – UNIT OWNER
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Portfolio-wide Energy Savings TOTAL SAVINGS TO DATE: $14,547,037
ELECTRICITY UTILITY SUPPLY COST FS ENERGY SUPPLY COST
EFFICIENCY SOLUTIONS FOR YOUR PROPERTY The decision to move to renewable energy is the latest in a long effort to make the Kips Bay Towers Condominium community more sustainable. Our ‘green’ initiatives have included the installation of solar panels, an LED lighting conversion, and implementing New York City’s e-cycleNYC, re-fashionNYC, and organics recycling programs. With each subsequent initiative, support grows for how we can operate even more effectively with minimal impact to our environment. With the support of FirstService Residential, we were very pleased to learn just how affordable renewable energy is, and it became the proverbial ‘icing on the cake’ for our latest environmental stewardship effort.” – BOARD MEMBER
NATURAL GAS UTILITY SUPPLY COST FS ENERGY SUPPLY COST $0
$20
Total Savings $5,492,908 13% $40
Total Savings $9,054,128 12%
$60
Our FS Energy subsidiary helps our clients significantly enhance their building’s efficiency by recommending strategies to reduce energy consumption, costs and emissions. Our energy experts consider all practical Energy Conservation Measures (ECMs) to tailor the best solution for your property.
Incentive Funding FS Energy secures over $3 million in incentive funding for our managed properties each year for efficiency projects ranging from co-generation (CHP) and lighting retrofits to control systems and chiller upgrades. The volume of projects we oversee means our energy experts are well versed in every program that can provide incentive funding to our clients.
Reduced Energy Costs FirstService Residential properties are currently saving up to 13 percent on electricity and natural gas costs—compared to rates charged by local utilities—through the FS Energy Aggregation Purchasing Program, which leverages the combined energy use of hundreds properties to negotiate lower-than-standard rates. (See chart above.)
Energy Benchmarking Each year our energy experts perform a detailed benchmark analysis of your property’s energy performance. The results are presented to you in a customized Energy Report Card that includes an annual potential savings model. Your Report Card arms you with measured data and practical recommendations to help your board make informed decisions when considering efficiency strategies. FS Energy is a NYSERDA Multifamily Performance Partner, a member of the NYC Mayor’s Carbon Challenge, and a participant in the US Department of Energy and HUD’s Better Buildings Challenge.
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Cost in Millions
FS Energy helps our clients achieve additional savings through: • Advanced control system monitoring • Energy audits and inspections • Utility bill audits • Preventive maintenance programs • Staff training on maximizing building system performance
Local Law Compliance Our team will help your building comply with NYC Local Law 84 (benchmarking energy and water use) and Local Law 87 (energy audit and retro-commissioning).
Retrofit Analysis, Execution and Financing For buildings with efficiency opportunities that lack upfront capital, we offer several methods to obtain financing through vendors, banks, and other capital providers where the energy savings are greater than the total project cost, thereby enabling cash flow positive projects to be undertaken by our clients.
Learn more at www.fsenergyservices.com
FS Energy has helped our clients save more than $25 million in energy costs while reducing the carbon footprint of our New York portfolio by more than 15 percent since 2010.
Offering Boards Flexible Insurance Coverage FS Insurance Brokers, our licensed brokerage affiliate, provides our managed properties and board members with an insurance program unmatched in coverage, cost, and service. The company achieves these results by leveraging our sizable portfolio, our property managers’ risk management certifications, and our extensive data on claims and loss experience. The program’s key features include: green upgrade coverage, free risk management consultation, premium financing, free boiler and machinery inspections, umbrella liability options, and optional guaranteed replacement cost coverage.
Our Compliance Experts Facilitate Timely Filings Failure to comply with regulations and laws can create significant problems—and added expenses—for your property. That’s why FirstService Residential has a dedicated Compliance Department that oversees the timely filing of required permits, licenses and certificates. Our property managers are supported by an automated alert system that tracks compliance in real-time. As a result, we can resolve complaints and violations earlier, renew permits and licenses in a timely manner, and track the status of mandated inspections on a daily basis.
Emergency Preparedness Gives You Peace of Mind FirstService Residential will establish emergency procedure plans customized to your building. We enhance safety by continuously inspecting for security breaches and other hazards and recommending improvements. Building staff and residents are educated about procedures to follow in various disaster scenarios. Additionally, our around-the-clock team response system is in place to handle emergencies at any hour, day or night.
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EFFICIENT TRANSITION PROCESS PUTS YOU AT EASE
The transition is going well given the size of our property, complexity of our governing documents and number of inherited problems. The FirstService Residential team has successfully created an atmosphere of service while enforcing policies the board has been very frustrated not to have enforced for a very long time.” – BOARD PRESIDENT
Can I just say how much I love your company? This is our third co-op, and it is so nice to call someone who is so responsive and helpful! I am never moving! The building management must be a large part of why this building has so little turnover.” – SHAREHOLDER
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Our carefully timed and thorough onboarding plan for your property results in all core initiatives being accomplished in an efficient and timely manner.
Our dedicated transition team implements our proven processes for a smooth and seamless transition from your current management company. We review all pertinent building data, contracts and operating procedures to become fully informed about your property. We also assess your building’s current condition to establish a baseline and identify any safety, aesthetic or architectural issues that must be addressed. Based on our extensive experience, we also make recommendations where we believe improvements can be made.
Providing tailored and effective service from day one is not what we aspire to—it’s what we deliver.
As an additional assurance that no detail is overlooked, we also send automated updates confirming the status of all documents and information throughout the transition process.
PROJECT MANAGEMENT: FROM CONCEPT TO COMPLETION Property managers may lack the specialized knowledge and technical skills necessary to successfully manage extensive construction and capital improvement projects. In those instances, our FS Project Management subsidiary is available to serve as your board’s dedicated representative. From project development and coordinating bid packages, through negotiating costs with engineers and contractors, to overseeing all aspects of the project, FS Project Management’s team of project managers brings leadership and expertise to each job.
We plan, organize and manage resources to bring your project to successful fruition.
Ongoing communication between our project managers, board members, residents, contractors, and all other involved parties helps achieve your vision in a cost-effective and timely manner, with minimal disruption to residents. With more than $100 million in completed projects, FS Project Management has a proven track record for taking the most complex and comprehensive projects from conception to completion—while staying on schedule and within budget. Learn more at www.fsprojectmanagement.com
You have done a remarkable job managing our major Local Law 11 project, completing it three months ahead of schedule. You are a tough negotiator with contractors and have been relentless in keeping our costs down. In addition to saving time, you have saved us considerable money.” – BOARD PRESIDENT
“Thanks for the tremendous role the FirstService Residential team played in helping us reach our desired outcome. This important achievement will add value to the building. Thank you for guiding us with your much valued knowledge and advice. Your presence and advice lend a calming perspective to weighty matters.” –BOARD OF DIRECTORS
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STABILITY + LONGEVITY = RELIABILITY
Because my career has focused on attracting highly productive and dedicated individuals, I’m always impressed by individuals with those characteristics. I received exceptional service from my property manager. His sincerity, professionalism and effectiveness in solving the problem was both impressive and genuinely appreciated. As most companies have placed quality customer service on the back burner, it’s reassuring there are still companies like yours, with employees who take pride in delivering exceptional customer service. Most often, individuals in your position are dealing primarily with complaints, since happy customers are less likely to write. I hope you find this letter to be a refreshing change.” – UNIT OWNER
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FirstService Residential oversees thousands of properties across the US and Canada, making us North America’s leading manager of residential communities. Because we are part of FirstService Corporation, a publicly held company (NASDAQ & TSE: FSV), you can be confident that we are financially stable and here for the long term. We hold ourselves to the highest standards of transparency and accountability. In addition, we are subject to Sarbanes-Oxley financial control requirements for public companies and provide a 24/7 ethics hotline for our associates. Our designation as an Accredited Management Organization (AMO) by the Institute of Real Estate Management adds an additional layer of confidence.
We make a difference every day for the communities and residents we serve.
OUR PASSION FOR SERVICE CAN MAKE A DIFFERENCE FOR YOU AND YOUR PROPERTY
We have a proven track record of helping our clients successfully fulfill their responsibilities and achieve their goals— adding value, enhancing residents’ lifestyles and ensuring that properties remain robust and financially healthy, both now and in the future. We welcome the opportunity to show you how our unparalleled experience, market expertise, proprietary tools and resources, value-added services, and passion for service excellence can help you realize your vision for your property.
Making a Difference. Every Day.
622 Third Avenue New York, NY 10017 Tel 212.634.8900 www.fsresidential.com