FirstService is a North American property services company operating two divisions. FirstService Residential is North America's largest manager of private residential communities, overseeing more than 9,500 condominiums, HOAs, co-operatives, and master-planned communities across 25 U.S. states and 3 Canadian provinces. Community boards hire FirstService Residential to handle day-to-day operations — collecting HOA fees, managing finances, sourcing vendors, maintaining common areas, and providing on-site staffing. The division earns fixed monthly management fees under multi-year contracts, with revenue driven by net new contract wins, renewal pricing, and ancillary services like banking, insurance, and energy management. Client retention runs in the mid-90% range. FirstService Brands operates a portfolio of essential property services businesses, including First Onsite Restoration (commercial and large-loss restoration), Paul Davis Restoration (residential restoration via franchise), Century Fire Protection (fire protection services), Roofing Corp of America (commercial roofing), and several home service franchise brands including California Closets, CertaPro Painters, Floor Coverings International, and Pillar to Post. FirstService Brands generates revenue through both franchise royalties and direct service delivery. Restoration is the largest contributor within Brands and is meaningfully weather-dependent. FirstService grows through organic contract wins and tuck-under acquisitions into existing platforms, with roofing and fire protection as current M&A priorities.