Establishing A Record Keeping System For Your Condo or HOA Can Save You a World of Trouble When you Need to Produce Them.
Here is a cautionary tale: A big wind comes and knocks off the roof of one of your condo or HOA buildings and you put in an insurance claim. The insurance company is very happy to honor your claim, but they need to see the last seven years of maintenance records for this roof or they won’t pay. Unfortunately, in the last seven years your board has changed five times and you have been through three management companies and six on site managers. Nobody remembers anything; some old board members have moved on, the management companies did not keep your records, and now your sure-fire claim will surely get denied.