M.I. from New Haven County writes:
Dear Mister Condo,
Is there a length of time a condo board has to rebuild? Our building burnt over 3 months ago, and nothing has been done or released as to when it will be rebuilt. We need to get our money back out, and have no idea how to approach this.
Mister Condo replies:
M.I., I am sorry for your fire loss. I hope that the building was all that was damaged and that no people were injured. Insurance claims in disasters really run the gamut as far as how long the process takes from damage to claim, from claim to adjustment, from adjustment to reimbursement, from reimbursement to rebuilding, rebuilding to repopulation by residents, and so on and so on… As you can see, 3 months sounds like it’s only the tip of the iceberg on the whole process.
That being said, you have the right to have regular communications from all parties involved. The Board and Property Management Company would be well-served to publish frequent (monthly) updates of where they are in the process so that affected residents can make appropriate plans. If they already know this will take twelve months or longer, they need to inform unit owners and keep them in the loop as progress is made. Otherwise, folks like you will just suffer longer and wonder what is going on. Tragedies like the one you’ve experienced challenge Boards. I hope your Board will rise to the challenge and accept the responsibility of keeping you and your fellow unit owners informed as they protect the common interest of their members.
If you want to see an example of what can happen after a fire, kindly review an earlier post from our website – https://askmistercondo.com/reduced-common-fees-after-a-fire/. These folks from Pennsylvania have gone through it firsthand and have made a few observations along the way that you might find helpful. Good luck to you and all of your fellow condo members.