Condo Media - May 2020 - 34

VENDOR SPOTLIGHT

FirstService Residential
A National Management Firm with a Local Focus
[by Pamela Schweppe]

Suppose you were the owner of a respected property he says. "We reinvest in our people." That includes asmanagement company founded in 1907, whose persigning fewer properties per property manager, allowing
formance over the years had earned it the prestigious
the managers to spend more time meeting with board
designation of Accredited Management Organization
members and vendors, or dealing with issues on site.
(AMO) from the Institute of Real Estate Management.
Among the functions that benefit from being part
And suppose you were ready to
of a national organization are
retire and were looking to pass the
accounting, IT, and human rebaton to a firm that could uphold
sources. In the accounting arena,
these high industry standards.
Hughes points out that a national
Then, suppose further that you
company faces stringent financial
were North America's largest thirdscrutiny-and, as a result, CPAs
party association management
find comfort working with Firstcompany, looking for a foothold in
Service Residential, "because
the New England market. A comthey can trust that the financials
pany looking for a partner aligned
are clean," he says.
with its values. With several opFirstService Residential also
tions available, you would want to
has a technical team that develops
be sure the company you acquired
its own proprietary software. If
would reflect the ethics, customer
there's a compliance issue, for exservice, and entrepreneurial spirit
ample, the property manager can
Bryan Hughes heads the New England
of your corporate brand.
use an app on their phone to send
division of FirstService Residential.
Joining forces would seem to
a photo to the local compliance
be a win-win for everyone. That's
team. The team then identifies the
exactly what happened when FirstService Residential
rule or regulation in the condo documents that is being
acquired The Niles Company from its then president
breached, and a notice is sent to the unit owner via email
and owner, C. Jerry Ragosa, CPM, in 2016.
and postal mail. "Utilizing our own systems allows us
consistency and rapid updates and changes," says Hughes.
A NATIONAL COMPANY WITH A LOCAL TOUCH
"We also don't charge licensing fees to our customers.
"We combine the attributes of being local, entrepreThey get that as part of the management services."
neurial, innovative, and flexible with the resources of
As for human resources, Hughes reveals that FirstSera national company," says Bryan Hughes, president of
vice Residential chose Niles because of the talent of its
FirstService Residential's New England division. "If we
staff, and that employee retention has been extremely
see an opportunity to flex and bend, based on the needs
high. Plus, being part of a national organization has a
of the local market, we have the autonomy to do that,
benefit local firms can't offer: the opportunity to move
yet we also benefit from the depth of resources of the
within the region or even the company.
national organization."
As part of that national organization, FirstService
A PEOPLE-BASED APPROACH TO MANAGEMENT
Residential is able to keep its overhead lean, according
"At the end of the day, it will always come down to
to Hughes. "Because we have services that can be shared people," says Hughes. "Anybody can say we support
across the entire eastern seaboard, or even across the
our team, but if the team doesn't actually feel supported,
country, our cost of doing business internally is lower,"
we can't execute on our own brand promise."

Condo Media - May 2020

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