Whether you own your condominium, condominium complex, rent from the building or an owner, condominium damage can be quite tedious. There are several things you need to know if you have suffered damage to your condominium.
DID YOU KNOW?
Single family homeowners have an understandable picture of their insurance needs. They are required by the mortgage company to maintain coverage in case of a loss. The bank does not want to lose the security of their loan in case of a catastrophe. As a condominium owner, your ownership is abstract, so it’s more difficult to determine the need for insurance. Your property is shared with others in the same building or on the same land. In fact, most condo owners do not have an individual insurance policy on their property at all! This means that any loss not covered by their association will be at their own expense.
Protect your assets! Even though you have insurance through you homeowners association, you should obtain additional insurance for your individual unit, especially if you have tenants occupying your property. You need insurance to provide protection when the unexpected fire, flood, or theft takes place. If a guest is injured on your property, you need liability insurance for their medical expenses.
If you own an individual unit in a condominium:
Precautions in dealing with Home Owners Associations
Upon recognizing that the cause of damage was likely the result of association related carelessness, some boards mismanage the matter to the point where an attorney would have to get involved. More often than not, such battles can begin when a board fails to distinguish and treat the problem when they first learn of them. A board’s resistance to correct the problem, let alone acknowledge that a serious problem even exists, often results in denial, delay and intimidation.
When dealing with damages from the common areas it is important to first thoroughly understand what is meant by the term “common.” There are many complexities to this in a condominium structure. Each owner should acquaint themselves with their own associations governing documents, specifically their covenants, conditions and restrictions regarding the sections concerning “common” and “common area”.
If you think you have a mold issue because of water damage from the common area, it is very important to carefully document this. Owners often communicate their requests verbally without placing it in writing. It is imperative that you back up all verbal communication in a letter. Be sure to address the letter to the board of directors of your condominium. You can fax this letter in to them, however if you do not get some sort of written notice with 10 days, you should resend it through returned receipt such as certified mail. Mainly, be sure to have evidence of proof of mailing so that the board cannot refute that they never received any notification.
It is also very important to make certain that the problems that you are experiencing are addressed in your next board meeting. After you send your letter, make a written request for your issue on the agenda at the next meeting. It is vital to attend all open board meetings. If your association in any way prevents you from discussing your issues of the common area problems that affect your unit, this may be a red flag to a history of more serious problem.
Be sure to photograph ANY damages to your unit as well as the surrounding areas. Video cameras include options for date, however you may also be able to include dates in photographs as well. It is also always a good idea for resident owners and landlords to maintain a photographic log of all belongings of value for insurance purposes, in case of property loss or damage.
Each unit owner should have a copy of the association insurance policy. It is the right of each owner to request and receive this information. They should also have a copy of their association policy and procedure for water damage and mold. If no such policy exists, be sure to obtain a copy of that in writing from your association. It is not uncommon for an association to deny or withhold a policy for water damage and or mold only to later produce this using it against the owner.
The integrity of your condominium can depend upon the integrity of your association-its board of directors-property manager- association attorneys- management company- maintenance employees and vendors. With all the problems of adjoining walls, tricky and sometimes unkind boards, callous association attorneys, along with few individual homeowner rights, many condo owners are packing it in and moving on. Until legislation changes to better protect the homeowner, leaving an HOA may not be such a bad idea.
If you rent a condominium from a landlord or from a building complex:
Before renting a condominium, be sure that your lease agreement discusses the possibility of property damage. Also, verify that your landlord has insurance that protects your interests as well as theirs. Always has photographic evidence of all of your valuable possessions.
Be sure to report any and all problems with your unit before you sign your lease agreement. If you encounter any type of damage from hurricane, tornado, flood, mold etc. be sure to document all damage and report it to your landlord immediately.
Conclusion:
Whether you own or rent you should always make sure you are protected with insurance. If you have suffered a loss to your property damage, call a licensed public adjuster today, to help you with this difficult process. Out adjusters are licensed and experienced in dealing with large and small claims of all types. Contact All American Public Adjusters, Inc. today.
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