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.
Unprecedented wildfires brought sudden devastation and loss to Southern California in January. As wildfire recovery efforts begin, community association leaders need to consider what immediate actions to take while also ensuring they align with governing documents. They also need to be prepared to work with insurance providers and handle resident requests.
