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The Continental Group (TCG) Jade Residences Receives Financial Innovation Award
The Continental Group (TCG) Jade Residences Receives Financial Innovation Award for the Florida 2011 Communities of Excellence Awards
The awards recognized communities from across the state that are setting the standards in meeting today's challenges and for achievements that benefit residents, enhance property values and contribute to the quality of life in Florida. Judged by a panel of experts from education, journalism, environmental advocacy, community association management and public safety, winning communities were recognized in 10 categories, with the top communities distinguished by outstanding achievement in several categories.
TCG’s property, Jade Residences of Brickell Bay, received the Financial Innovation award which honors innovative solutions to ease financial burdens while maintaining the quality of Home Owners Association amenities and services. Jade Residences implemented cost reduction policies such as re-biding and renegotiating major vendor contracts in 2009 and 2010 and hired utility/energy consultants to determine if expenses could be reduced. As a result, re-bidding and renegotiating vendor contracts significantly reduced costs and produced an estimated $161,000 in annual savings. Furthermore, Frequency Variable Drives were installed on the property as a Go Green initiative yielding an estimated $216,000 annual savings in addition to the $161,000 previously mentioned.
“The Continental Group strives to bring the industry’s top professionals and finest resources together to deliver exactly what our associations and residents need to thrive,” added Tim O’Keefe, President of TCG. “Jade Residences Financial Innovation award is well deserved during these challenging financial times. We are honored to have received nine nominations for our properties and will work to continue improving the quality of services and amenities delivered to our residents across the state of Florida.”
Other actions taken include adopting a Lease Addendum policy that allows the association to collect the maintenance fee from renters when a specific renter is delinquent and pursuing foreclosures regardless of a bank’s status. Through these initiatives, the maintenance fee has not increased for two years and in 2011 the maintenance fee was reduced without the need of eliminating or reducing the services or its quality.
TCG’s 2011 Florida Communities of Excellence finalists included the following properties: Anclote Point Town homes, Tarpon Springs as a finalist for the Florida-Friendly Landscaping™
The Continental Group was a Diamond-level sponsor of the awards program as all sponsors were businesses dedicated to the needs of residents of condominiums and homeowner associations.
About The Florida Communities of Excellence iodcr Awards:
The Florida Communities of Excellence Awards is a unique recognition program that shines a spotlight on the positive and productive initiatives taking place in condominiums, homeowners associations and cooperatives across Florida. Now in its third year, the independently judged program enables the top communities in the state to promote their accomplishments and raise their profiles while documenting their success and enabling others to learn from their examples. For more information, please visit www.communitiesofexcellence.net
About The Continental Group, Inc.:
Founded in 1990, The Continental Group’s corporate headquarters is located in Hollywood FL. It also has regional offices in Boca Raton, Miami, West Palm Beach, Wellington, Vero Beach, Orlando, St. Petersburg, Jacksonville and Destin. The company is the largest manager of condominium and homeowner associations in the state, and one of South Florida’s leading private sector employers. Today, The Continental Group manages and maintains 1,500 Associations and more than 310,000 residential units.
The Continental Group is a subsidiary of FirstService Residential Management, which manages over 4,100 communities, representing more than 1.1 million homes/units in 18 states. FirstService Residential Management is a subsidiary of FirstService Corporation. To learn more about The Continental Group, call (954) 925-8200, toll-free: (800) 215-2316 or visit www.thecontinentalgroupinc.com.