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 Issues For Property Managers & Multi-Family Owners "I want to let you know how pleased we are with our new replumb job and especially the way in which it was conducted. The whole replumb job went much smoother than we had anticipated possible and the addition of more turn-off valves than expected is greatly appreciated-making our new replumb more efficient and up-to-date for all concerned." If your firm manages residential property, you are already aware that polybutylene piping is an ongoing maintenance nightmare. For structures built with polybutylene systems, you must deal with recurring: (1) Emergency leak repairs Of course, residents of these properties endure the water damage, the inconvenience of repair, and possible claims on their renter or condo insurance policies. But worse for occupants on lower levels, the irony is that even if their pipes are replaced, they remain vulnerable to poly leaks from all the units above them! Unlike most other maintenance issues, polybutylene presents a wide variety of complex problems involving serious financial, insurance and legal questions. For example, as a representative for multi-housing owners and owners associations, the professional property manager must contend with: (1) Insurance coverage & premium increases: Even now, one of the Big Two single-family insurers has an underwriting guideline prohibiting new polices for property with a poly leak history. (2) Capital reserve adequacy: Owners' associations and multi-housing owners must establish sufficient capital reserves for a poly system. The problem: It's impossible to estimate the system's useful life. (3) Errors/omissions liability: With resale condominiums, state law requires extensive disclosure in the resale certificate ("packet") given to prospective buyers. You can bet they want to know about: (a) Litigation involving the association (it may or may not be a "plaintiff" in at least one poly suit) and, (b) Construction defects and associated capital reserve adequacy. (4) Mortgage Escrows: If a multi-housing owner refinances a property, he/she may find that the new mortgage company requires a cash reserve to finance system replacement. (5) Class action eligibility guidelines: Many property owners will receive substantial assistance through the Spencer v. Dupont settlement which does not require prior leaks. In addition, you may be eligible for reimbursement through Cox v. Shell. (6) Inaccurate building inspections: "Piping system looks fine!" Visual inspection of polybutylene is virtually worthless because the damage occurs on the interior of the pipe and fittings. As the premier repipe company in the country, Plumbing Express offers total polybutylene solutions that you can count on. Whether you need to spread the investment over several years or require total resolution immediately, we offer exceptional pricing for condominiums, apartments, hotels and even HOA's. We can also offer financing with competitive rates through the National Cooperative Bank (NCB). Most importantly, we are absolutely certain you will be pleased with Plumbing Express service: "The project has entailed about 50% plumbing and 50% diplomacy. And your folks have done both well." All Plumbing Express services are turnkey including drywall and paint. We perform the work while units are occupied with guaranteed completion timelines. Unlike smaller repipe companies, we also provide a la carte plumbing/drain services at substantially discounted rates. So, if you are considering submetering, water heater change-outs or any other improvements, the value of our total package of services becomes even more apparent. When it comes to polybutylene, David Hossfeld, Director of National Accounts, is probably the most knowledgeable expert in the country. His consultation services are free of charge in our service areas, so please call David if you have any questions. He will provide you with all the information you need to develop a polybutylene strategy. Or if you would like, he will even deliver formal presentations to groups and owners associations. If you need to discuss a solution, or you just want an informational article for an association newsletter, please contact David Hossfeld at 800-845-1192. And yes, we do galvanized repipes, too! | |
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