FirstService Residential launches 2025 BENCHMARK editions on operating costs and budgeting for high-rise and master-planned communities

Core Insights - FirstService Residential has released its 2025 BENCHMARK reports focusing on operating costs and budgets for high-rises and master-planned communities, aimed at aiding community association boards, developers, and property managers in decision-making [1][2]. Group 1: BENCHMARK Reports - The 2025 BENCHMARK report for master-planned communities utilized data from over 400 communities across six major U.S. geographic areas [2]. - The high-rise edition analyzed operating costs from nearly 1,000 residential buildings in major urban centers in the U.S. and Canada [2]. - Both reports provide insights into various operating costs, including insurance, maintenance, sustainability, amenities, reserves, and capital planning [2]. Group 2: Leadership and Strategy - The CEO of FirstService Residential emphasized the importance of long-term vision, resident engagement, and a disciplined budget process for successful community management [3]. - The BENCHMARK series is designed to assist community leaders in developing cost-effective strategies to manage rising costs amid complex market conditions and expanding legislation [4]. - FirstService Residential combines local expertise with robust support to help boards navigate evolving costs, regulations, and resident expectations [4]. Group 3: Company Overview - FirstService Residential is focused on simplifying property management and enhancing property value and resident life through its hospitality-minded teams [5][6]. - The company offers 24/7 customer care, tailored lifestyle programming, and technology solutions to meet community needs [6]. - As a subsidiary of FirstService Corporation, FirstService Residential is a leader in providing essential property services to residential and commercial clients across North America [7].