WHEN CONDOMINIUM BOARD MEMBERS & COMMUNITY ASSOCIATION MANAGERS move on, they often take vital institutional knowledge with them. That’s why it’s essential to keep a running record of maintenance incidents, including pipe leaks.
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MANY HOA AND CONDO BOARDS ask themselves every year if they need a snow contract? After all this is Seattle, it will melt off by noon. Let’s look at a few issues before deciding. There are 1 million slip and fall claims every year, in the US. The average slip and fall claim is $48,000. What is your association liable for? Are you insured for this?
THERE ARE MANY laws and regulations in Washington State that community associations should be aware of and prepared to address. Common area safety and electric vehicle charging are two examples that we elaborate on below.
EVERYONE IS EXPERIENCING HIGHER COSTS of fuel, food and other necessary, everyday items. You’ve done all the right things including setting aside funds for current and future projects, but prices are coming in higher than expected. What are your options and what steps can you take to mitigate rising construction costs?
OUT OF SIGHT, out of mind? Since most of your community piping is hidden behind walls, it’s all too easy to disregard the warning signs of a problem that could lead to a costly catastrophe.
At COIT, we believe that indoor air quality is an important aspect of any healthy home and business and the CDC agrees especially because COVID viral particles spread between people more readily indoors than outdoors.
You may have been noticing an increase in the frequency of plumbing system replacement, at very high costs. Now that a significant portion of the housing stock we serve within Washington Community Associations has reached or is near the 50-year mark of life, expect that trend to continue. But what do you plan for in terms of timing, and cost? Why isn’t total replacement typically in your reserve study?
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.
With water damage, there are situations where it is important to call a professional. Here are some examples of situations where professional help should be sought out: