Regular property inspections are an important part of managing condominium or homeowners association (HOA) risks. Thorough inspections increase the safety and well-being of homeowners, protect property values, and reduce the risk of costly repairs and lawsuits.
Whether inspecting communal areas of the HOA or a homeowners’ properties, take a comprehensive approach to examine all areas of risk. This may take extra time and effort in the beginning, but will become easier and routine over time.
Here are the six specific steps you should take:
- Check the HOA’s bylaws and state statues
- Document the inspection
- Create an inspection checklist
- Update the checklist with corrective measures
- Present site inspection results to the board
- File the checklist with the HOA’s records
If you have any questions or need more information on this issue, please contact us. Please know that we are here to guide you through the confusing maze of insurance options to find the right fit for you, your family, and your business.