The collapse of Champlain Towers South in Florida wasn’t just a tragic event, it was a wake-up call for community association and maintenance plans and programs. Since then, insurers have gotten stricter, lenders more cautious, and lawmakers busier than ever. With a little discipline and a plan, you can lead your community safely to the summit. Get started with a six-step preventive maintenance plan.
Implementing a disaster preparedness plan early on can limit property loss, reduce risks, and speed the association’s recovery. Planning in advance can strengthen a community association’s ability to mitigate risk and alleviates some of the unnecessary chaos that comes with an emergency.
Natural disasters are occurring more frequently — and more violently than ever before. Community associations caught in the path of extreme weather find the devastation lingers long after the storm has passed. Although it is not possible for associations to insulate themselves completely from catastrophic weather, there are lessons to be gleamed from those who have been hit that could help mitigate loss and protect owners’ investments.
Four years ago, the tragic partial collapse of Champlain Towers South in Surfside, Fla., took 98 lives. The devastating event highlighted the critical need for proactive building maintenance, structural inspections, and financial preparedness to ensure condo safety. Over the past few years, CAI has educated community association residents, board members, community managers, business partners, legislators, and regulators about structurally sound and fiscally responsible communities.
Things have stabilized at the Hammocks Community Association near Miami more than three years after local prosecutors began filing criminal charges against previous board members for allegedly defrauding owners of more than $2 million in a financial fraud scheme. Every instance of financial fraud serves as a reminder, professionals say, of the importance of owner vigilance and the need for safeguards and controls.
