Board Condominium Financial Governance Insurance

Why Should Condos Implement Maintenance Standards?

R.P. from Fairfield County writes:

Dear Mister Condo,

Why should Condo’s implement Maintenance Standards?

Mister Condo replies:

R.P., there are a myriad of reasons that condo associations should implement Maintenance Standards. First and foremost is to limit the association’s liabilities. Things that routinely wear down and break like water supply lines can cause a great deal of damage which is easily minimized or prevented with Maintenance Standards. Secondarily, many insurers require these standards to be in place or the insurer will not cover the resultant damage. That could lead to huge out of pocket expenses for both associations and unit owners. Finally, many Maintenance Standards provide greater safety and peace of mind for all unit owners and residents. Who doesn’t want that?

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