by Michael Hamline, Editor / Published August 2022
Since about mid-April my wife and I have been involved in a home remodeling project. We’ve been ripping out the old laminate flooring and carpet as well as the old underlayment. One aspect that has encouraged me to keep on replacing the floor throughout the bottom level of our house has been seeing the progress as we go room by room and taking note of the improved appeal (i.e., no gaps between floor panels or dirty carpet) of the inside of our house. Upkeep and maintenance are an investment of money and time, but it’s worth it.
Upkeep and maintenance are important and valuable in community association living as well. On page 8 of this issue, Jeffrey Rembaum with Kaye Bender Rembaum has written on the recently passed Senate Bill 4-D that mandates milestone inspections for condominiums and cooperatives and the requirement of a structural integrity reserve study (SIRS) for all condominiums and cooperatives three stories or higher. A SIRS is concerned with inspecting the many components that make up the building’s structure so as to protect the residents.
On page 20 Will Simons with Association Reserves has also taken time to examine Senate Bill 4-D. He sees the following positives: mandating milestone structural inspections, requiring regular reserve studies, and eliminating the option to waive reserve funding. However, he also sees the need for a “cleanup bill” dealing with the short time to meet the requirements and expresses some concern about the new concept of the structural integrity reserve study along with its expanded scope.
Turn to page 24 where Vicki Jennings with CIT offers seven best practices for making the budget process more effective. One of the tips is to determine association goals and plan out how you will reach these in the budget for the next couple of years.
When you think of upkeep and maintenance, do you think about your pipes, or is it out of sight, out of mind? On page 46, Eric Lecky with SageWater describes how to determine whether to repair or replace the association pipes. He also provides four ways to fund pipe replacement.
If you live in a community association, making sure you take care of upkeep and maintenance is the board’s responsibility. It is needed to protect the investment value of the community and for the safety of the residents. It’s hard work and will take an investment of time and money, but it’s worth it.