Bayland Condo is a 121-unit garden style condo community located in Havre de Grace, MD, just outside Baltimore. Recently, the Board opted to explore options for the management agreement while still considering its ongoing relationship with FirstService Residential.
Coincidentally, the association’s insurance coverage was up for renewal at same time. FS Insurance Brokers was engaged to bid on the renewal, and by working closely with its partner Farmers Insurance was able to deliver a best-in-class proposal to Bayland. Ultimately, we were able to provide enhanced coverages for the association while still saving them $4,000 on annual premiums.
Once the insurance renewal was secured, FirstService Residential’s leadership was in a favorable position to use the savings as negotiating leverage for the management agreement. In the end, a valuable client was retained thanks to a job well done by everyone involved.