Question:
We are in the process of making the decision on doing a parking lot repair. We are reviewing the quotes, reserve funds and risk analysis.
What are the responsible decision making steps we can take to ensure we keep the homeowners investments secure.?
– Cindy
Answer:
Hi Cindy,
To ensure a responsible decision regarding the parking lot repair, start by checking your governing documents to ensure compliance. Reviewing multiple contractor quotes to compare costs and scope of work. Check your funds to confirm there are sufficient resources available for the project. Conduct a risk assessment to identify any safety concerns and evaluate the potential for further damage if the repair is delayed. Do your due diligence by researching the contractor and verifying their licenses, credentials, permits, and insurance. Engage with experts, such as engineers or reserve specialists, for professional advice and accurate cost estimates. Lastly, maintain transparency with homeowners by keeping them informed and involving them in the decision-making process. This approach will help protect homeowners’ investments and ensure a well-informed decision.
Here are some resources you might find helpful:
Disclaimer: We are not lawyers. The information provided on this website does not constitute legal advice.
