The past two weeks have been devastating after witnessing the partial collapse of the Champlain Tower South condominium in Surfside, Fla., learning of the lives that perished, and seeing the tragedy’s impact on survivors and those in the immediate community. An investigation into the cause of the condo collapse is ongoing; standards of practice and legal requirements related to ensuring maintenance and structural integrity of condominiums understandably are coming under scrutiny.
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April showers bring May flowers…and sometimes uninsured losses! Building damage caused by heavy rain, clogged gutters and storm drains, accumulated water in a crawl space and any other water that originates OUTSIDE of a building is generally excluded on most policies for several reasons.
Anyone who has worked in the community association industry knows that not all owners pay their assessments in a timely manner. Sometimes, boards need the assistance of a lawyer to collect delinquent amounts. But when the file is ready to be closed, what if the amounts recovered by the law firm do not match the management company’s ledger?