FirstService Residential releases 2026 high-rise benchmark report
FirstService Residential's 2026 BENCHMARK High-Rise Report Finds Insurance Relief and Rising Reserve Contributions Reshaping High-Rise Budgets
PR Newswire
Analysis of nearly 1,500 high-rise buildings across 22 North American markets reveals how reserve funding, insurance conditions, and operating costs are reshaping high-rise budgets.
DANIA BEACH, Fla. , Aug. 5, 2026 /PRNewswire/ -- FirstService Residential , North America's leading residential property management company, today released its 2026 BENCHMARK High-Rise report, an annual analysis of operating costs and budget trends across a sample of 1,500 buildings of the 4,000 high-rise communities it manages. Drawing on data from 22 markets in the United States and Canada, the report provides board members, developers and property owners with data, insights and market perspectives to support short- and long-term budgeting decisions.
The report finds that reserve funding has become a defining theme across nearly every market, as updated reserve studies, aging infrastructure, and rising construction costs push boards toward higher contributions and more proactive capital planning. At the same time, insurance conditions are improving in several high-rise markets. In South Florida, for example, some buildings are seeing significant premium reductions, and many are redirecting that relief toward reserve funding, deferred maintenance, and staffing.
Beyond reserve funding and insurance, the report tracks cost drivers across more than a dozen categories, including elevators, fire protection, energy and sustainability, waste management, and technology. It also includes market-by-market expense guides covering major metro areas from Vancouver and Toronto to Miami, Chicago, Dallas-Fort Worth and San Francisco.
"Board members are everyday heroes tasked with making complex decisions on behalf of their communities, and budgeting is where that responsibility often starts," said David Diestel, CEO of FirstService Residential. "This year's BENCHMARK High-Rise report provides boards with real budget information to support stronger reserve planning, long-term investments, and informed decision-making while helping them balance financial priorities with residents' evolving expectations for service and community experience."
This year's edition also introduces The High-Rise Standard SM , FirstService Residential's framework for pairing strong day-to-day operations with a hospitality-driven approach to service. A significant component of the program centered in hospitality training was developed in collaboration with ATELIER CX, the consulting division of Forbes Travel Guide and provides a path for select properties to pursue Forbes Travel Guide's VERIFIED™ Luxury Residences designation, which seven FirstService Residential-managed buildings recently earned.
"Everything we do is centered on improving how residents live and interact with their community," said Robert Smith, president, South Region at FirstService Residential. "The High-Rise Standard gives every property a consistent foundation built on excellence, while allowing boards and developers to shape an individual experience that reflects what makes their building unique."
Click here for more information about BENCHMARK and to download a complimentary copy of the report.
About FirstService Residential FirstService Residential is simplifying property management. Its hospitality-minded teams serve residential communities across the United States and Canada. The organization partners with boards, owners, and developers to enhance the value of every property and the life of every resident.
Leveraging unique expertise and scale, FirstService serves its clients with proven solutions and a service-first philosophy. Residents can count on 24/7 customer care and tailored lifestyle programming, amenity activation, and technology for their community's specific needs. Market-leading programs with FirstService Financial, FirstService Energy, and special districts teams deliver additional levels of support.
Boards and developers select FirstService Residential to realize their vision and drive positive change for residents in the communities in their trusted care.
FirstService Residential is a subsidiary of FirstService Corporation (NASDAQ and TSX: FSV), a North American leader in providing essential property services to a wide range of residential and commercial clients.
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SOURCE FirstService Residential
PR Newswire
August 5, 2026 - 1:20 PM PDT
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