Water Damage in Condos: Know the Risks

Property managers and condo boards play a critical role in maintaining the integrity and safety of condo buildings, especially when it comes to addressing water damage. Water damage in condos can be complex due to liability and origin issues, external factors like rain or flooding, tenant-related damage, and infrastructure challenges. To mitigate these risks, property managers and condo boards should ensure residents are clear on insurance coverage and by-laws related to water damage, conduct infrastructure inspections, and educate residents about potential risks. Implementing smart technology, such as water sensors and comprehensive water management systems, can help detect leaks early and take prompt action. By being proactive, property managers can protect condo buildings, maintain resident safety, and manage insurance costs effectively.