Is your Association Ready for Hurricane Season and Water Damage

Hurricane Season

Hurricane Season will start on Monday June 1st, so be prepared. Condo and homeowner associations need to do more than stock up on batteries and flashlights. They need to be prepared for water damage and then mold problems.

Battle plans need to involve first responders in case of emergencies and be able to make advance financial decisions that could help save the day — in the case of a natural disaster.

When associations have done no planning is when the biggest problems pop up.  Water damage and severe wind can cripple a building and they sometimes don’t have any idea what to do next.

For an association to have a hurricane preparedness plan helps get them get moving in times of disaster.

Now is a great time to refine or develop your association’s plan; because National Hurricane Preparedness Week runs through Saturday

Checklist Engineer’s Report

The structural components, such as the windows, doors and roof should be certified by an licensed engineer, as to the integrity of each. Insurance companies often look at pre-exisitng conditions that have contributed to structural failure and ultimately could deny a post-storm claim.  Engineer’s reports cost between $500 and $2,500 depending on the size of the building.  The association’s insurance company might be able to recommend an engineer which would make it more difficult for the insurer to deny a claim later date.

Line up Contractors Now

To begin work immediately after the hurricane means that contractors have already been vetted and contracts negotiated in advance.  Contractors are usually scarce after a storm; so pre plan.  With a contractual obligation, the association will have a contractor while others shop around.

Review Insurance Policy

Periodically review the insurance policy with the agent.  Ensure the board understands the exclusions and policy coverage.  If necessary, increase coverage.  Many associations have cut back on coverage due to the bad economy.  Hope shouldn’t be used as insurance.

Biuld Cash

Establish a line of credit to provide emergency cash for emergency repairs after a storm.  If you do this, then financing won’t be such an issue.  Some associations consider increasing assessments to build a cash reserve.  The trick is to start small with a small amount in an account and watch it grow over time.

Point People

The association should appoint a contact person or persons that have emergency powers  to protect the safetly and integrity of the association’s property and it’s residence.  Also they can answer questions from city and county officials, contractors and of course residents.

Conslusion

With this checklist your association should be able to make the best of a bad scenario.  If they don’t have a preparedness plan, ask them to begin to create one.