Boards face constant challenges with “routine” business. However, things really have the potential to go awry when an unexpected disaster strikes, as was the case with January’s water main break in the Village. A building in our portfolio is situated approximately 250 feet from the actual break and, as the most immediate entry point for the water, it was the first residential building to be flooded. The Superintendent called the Property Manager at 2:00 AM stating that the building was not only being deluged, but also that the street had literally become an instant river.

As anguishing as it was waiting helplessly as the damages unfolded, the Manager initiated the building’s emergency plan (disconnecting power sources, checking gas sources, etc.), and began formulating a plan for recovery. By daybreak the resources were in place for the disaster remediation, and by 9:00 AM the Board had approved a complete upgrade of the building’s heating system. The lower level of the building was dry, and the heat and hot water were restored via a brand new burner within 72 hours.

The key to the successful navigation of this crisis was not only having a disaster recovery plan in place but also a “best in class” team for the restoration and upgrades. Too often, Boards focus on the lowest cost and don’t maintain successful partnerships with vendors. The value of a vendor with inherent knowledge is absolutely priceless. The Board was successful in the navigation of this disaster because they allowed the team of trusted professionals to do the jobs they are paid to do.

Alex K. Kuffel