Condo Media - February 2024 - 35

THE BASIC DISASTER PLAN
OUTLINE SHOULD CONSIDER
THE FOLLOWING:
1. Assessment of disaster risks -
both past experience and potential
2. Planning - budgeting and financing
3. Property management coordination
4. Safeguarding important
condo documents
5. Ledger of assets - written and digital
6. Communication plan - elderly and
special needs, absentees, etc.
7. Emergency equipment available -
condo and resident-owned
8. Lines of authority
9. Evacuation plan
10. Insurance audit
11. Vendor and contractor call list
12. Recovery plan
POST CLEAN-UP
CONSIDERATIONS
Recovery is not simply the clean up
after the disaster but a proactive real
estate marketing plan. Whether it be
a simple sprinkler pipe leak causing
flooding and mold in an empty unit or
a fire destroying a building or a wing of
a complex, it is important the board
plan for what is to be done after the
final repair contractor has left.
The common-denominator need of
all condo unit owners is protection
of their net worth. After any disaster,
the impact on market value and sale
potential of all units must be considered.
It should never be assumed just because
everything has been brought back to
" as good as it was " before the disaster
that the real estate market will perceive
this to be the case. The association may
need to implement positive steps to approach
local real estate professionals and
clearly demonstrate the physical state of
the current condo complex. This could
include certified inspection reports,
lab test results, or whatever it takes to
make market perception the reality.
n JACK CARR, P.E., LEED-AP,
IS SENIOR VICE PRESIDENT WITH
CRITERIUM-ENGINEERS IN PORTLAND,
MAINE. HE IS A MEMBER OF THE
CONDO MEDIA BOARD.
February 2024 CONDOMEDIA 35
Integrity Stewardship
NorthStar Insurance Services is a leading
provider of insurance and risk management
services for community associations, real
estate owners and property managers
throughout New England. We seek to be
your trusted partner and advocate in an
ever-changing and complex insurance
marketplace, and we are dedicated to
excellence in the provision of attentive,
proactive client service. Please contact us
today for a consultation.
Gregory Pierce, CPA, LIA gpierce@nsins.com, x 125
72 River Park Street, Suite 201, Needham, Massachusetts 02494 Call: (781) 431-2500 www.nsins.com
Expertise
Service

Condo Media - February 2024

Table of Contents for the Digital Edition of Condo Media - February 2024

Contents
Condo Media - February 2024 - Intro
Condo Media - February 2024 - Cover1
Condo Media - February 2024 - Cover2
Condo Media - February 2024 - Contents
Condo Media - February 2024 - 2
Condo Media - February 2024 - 3
Condo Media - February 2024 - 4
Condo Media - February 2024 - 5
Condo Media - February 2024 - 6
Condo Media - February 2024 - 7
Condo Media - February 2024 - 8
Condo Media - February 2024 - 9
Condo Media - February 2024 - 10
Condo Media - February 2024 - 11
Condo Media - February 2024 - 12
Condo Media - February 2024 - 13
Condo Media - February 2024 - 14
Condo Media - February 2024 - 15
Condo Media - February 2024 - 16
Condo Media - February 2024 - 17
Condo Media - February 2024 - 18
Condo Media - February 2024 - 19
Condo Media - February 2024 - 20
Condo Media - February 2024 - 21
Condo Media - February 2024 - 22
Condo Media - February 2024 - 23
Condo Media - February 2024 - 24
Condo Media - February 2024 - 25
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Condo Media - February 2024 - 27
Condo Media - February 2024 - 28
Condo Media - February 2024 - 29
Condo Media - February 2024 - 30
Condo Media - February 2024 - 31
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Condo Media - February 2024 - 33
Condo Media - February 2024 - 34
Condo Media - February 2024 - 35
Condo Media - February 2024 - 36
Condo Media - February 2024 - 37
Condo Media - February 2024 - 38
Condo Media - February 2024 - 39
Condo Media - February 2024 - 40
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Condo Media - February 2024 - 47
Condo Media - February 2024 - 48
Condo Media - February 2024 - Cover3
Condo Media - February 2024 - Cover4
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