Living in a multi-residential building has its benefits but unfortunately your risk of experiencing water damage is even greater than it is for single-family homes. This is due to the fact that there are so many pipes and appliances throughout the building on multiple floors and any unit can be flooded by not only it’s own appliances or burst pipes in walls, ceilings and floors, but also from neighboring units above and next to them. The building’s Homeowner’s Association (HOA), board members and property mangers see these disasters all the time and know they can cost a building hundreds of thousands to millions of dollars from one major leak!
As a unit owner, when you spring a leak in your unit, you are also putting the people next to and below you in harm’s way. As the leak spreads sideways to other units and downward through multiple floors, you are now responsible for destroying your neighbors’ property and this can lead to difficult communal relations, or even liability for negligence. If your condo is a seasonal escape, you may find that you cannot use it for an entire season while the damage is repaired and cleaning or constructions crews take up residence.
If the common areas of the building are damaged, very likely everyone in the building will be assessed a share of the cost of repairing the damage instead of filing a claim. This is often due to the high deductible on common areas and because filling a claim will increase future premiums that will also affect everyone for a long time. If you are an HOA board member and find yourself in a position where you need to install water security systems for all of the units on the property, we can help you determine which options will work with your plumbing configuration at the best price.
It is ideal to get everyone in the building to install the same system for the sake of consistency but this is not always possible and opinions about which system to install often conflict. Instead of letting a political stalemate prevent your residence from being protected, we can help everyone in the building get a system that is specific to their desires while still conforming to building-wide mandates for water security. If there is enough interest, volume discounts may also be available. If you want to put a stop to water damages in your building and reduce your liability but don’t know what to do, give us a call or use our Contact Us form!