Thanks, SP. Let me tell you a couple of stories. First, a few months ago, a drunk driver ran off the road, flew over the drainage ditch at the road and propelled into two of our buildings, causing quite a bit of damage. Then the car propelled into a resident's Cadillac before resting in a position, in which it looked like the propelling car pushed the Caddie out of its parking space. The police officer really messed up, as he did not perform a breathalyzer on the offending driver. When two other police officers arrived, they smelled the alcohol on the driver. It appears the car owner did not have any insurance, and we received no information from the car driver. Push comes to shove, and we sued both drivers in Small Claims Court (up to $10K in SC). It appears the driver had insurance. Now, the state is taking steps against the owner of the car. So, we got all our repair money.Then, three weeks ago, one of the buildings caught fire and destroyed the entire building (5 units). One of the owners, who rents his units, did not have any insurance to cover his portion of the repair costs or to cover him for lost rent. His property manager told me that they thought they would just take the risk, and they lost. But, one of our Board members is interested in purchasing those 3 units for $5K each, since the owner of the unit is responsible for everything from the inside walls inward, including cabinetry, plumbing, appliances, carpeting, etc. Let's see what happens. We are now in negotiations with our insurance carrier for rebuilding the building. Two of the owners did have insurance, thank goodness.Fortunately, even with the loss of income from the defaulting owner, we continue to contribute toward the reserve fund. (See what I mean by "frugal?) So, we have enough in reserve to start the construction and pay down the deductible. Unfortunately, not all condo associations are as well run as ours. We have a very strong board, one who is an expert in construction, me in the legal affairs and business, and 3 others who have varying talents. In fact, since I've been on the Board for 20 years, this is the strongest Board we have ever had. Our management company uses us as an example of how a Board should be run. Alas, many Boards are too egotistical to work together and are only interested in their individual well-being. Our Board puts the association first, including the renters, as well as the owners.Donna
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