By Ron E. Peck / Published June 2023
Wow! It is hard to believe hurricane season is looming again. June 1st marks the first official day of the 2023 season. Floridians know this is a time to prepare and be aware.
For many residents last year’s hurricane devastation is still a clear and present reality. Ian’s impact on the state will be long lasting and memorable. Fellow Floridians throughout the state are still reeling from the effects of monster storms from the past couple of years. Infamous storms like Ian, Irma, Michael, and other natural disasters have left their indelible marks in their wake. These past storms and disasters to come have the potential to impact structural foundations and natural vegetation which have influences on all aspects of safety and regulations.
In 2021 Champlain Towers South, a Surfside, Florida, association property, collapsed on Miami Beach. Although this travesty was not hurricane related, one of the lessons learned was the importance of ongoing maintenance and proactive measures to ensure structural integrity.
The large migration of new residents, natural disasters, and devastating anomalies like the Cham-plain Towers South have prompted leadership to assess regulations and practices to ensure the safety and well- being of all Floridians.
Insurance companies are feeling the massive effects of these events. The state has begun to implement processes for preparation and milestone inspections. A new requirement, a strategic integrity reserve study (SIRS), involves architects and licensed engineers to provide phase one and two milestone inspections. These inspections provide a thorough assessment about the structural integrity of the building and recommendations for further action. The goal is to ensure that maintenance and repair work are conducted on condominiums and cooperative association buildings to prevent any avoidable accidents or disasters. It is recommended that you review your property with a reserve study specialist, structural engineer, or architect prior to the storm.
These storms seem to be more powerful and develop much more quickly than in the past. It is imperative the insurance companies remain in Florida to protect residents and associations.
There is a lot of preparation and consideration when a hurricane takes aim at your area. Being prepared and informed is critically important. The most basic planning like gathering storm supplies, understanding evacuation routes, and preparing your association’s property are just the beginning. Plans should be implemented early and include pre- and post-storm tasks. Consider utilizing both cloud storage and hard copies in the event you are unable to access electronic files due to hurricane damage.
Finances is one of the areas that needs to be at the top of the list, but in the midst of preparation can be overlooked or under-considered. Here are some financial preparations you can take before a storm to ensure your money is well accounted for.
Keep all financial documents safe and protected. Copies of important documents like account numbers, bank statements, tax records, important receipts, etc. should be photocopied and placed in plastic bags to protect against any water damage. Upload any digital copies of important documents as backups and save them in a password protected cloud storage platform.
Don’t forget your vendors. Your trusted vendors need to know what you expect of them before, during, and after a disaster. Have all their contact information: name, address, phone numbers, cell phone numbers, email addresses, etc. readily available.
After the storm, remember that home repair scams are very common. Make sure you hire someone who is licensed and insured to do any repair work on your property. Get quotes from multiple local contractors. Pay in installments as the work is being completed. Do not pay the full amount up front. Be cautious of anyone who comes to your door and only works for cash. Use a check or credit card, so you create your own record of payment.
Finally, disasters happen. Recovery takes time. Preparation is key to a smoother and less stressful resolution. Hopefully this year’s storms will stay away, but if not, be prepared to hunker down (again).
Ronald E. Peck
Senior Association Banking Relationship Manager, Centennial Bank
Ronald E. Peck is the senior association banking relationship manager for Centennial Bank. He has 40 years of experience in relationship building, sales, and leadership. He is an active member of the Central Florida Community Associations Institute (CAI) chapter. He holds a bachelor’s degree in business from Florida Institute of Technology. He is a licensed community association manager (CAM) in the state of Florida and a past member of the Building Managers International (BMI).