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Predicting the Unpredictable

Toronto Condo News
Publication date:
September 24, 2020
Article Summary: 

The blog discusses the importance of contingency planning in condominiums to prepare for unforeseeable events. It explains that while it is impossible to predict every potential crisis, such as natural disasters, equipment failures, or pandemic situations, having a contingency plan in place can help mitigate the impact and ensure a swift and effective response. The blog recommends that condominium boards and property managers work with experts, such as insurance agents, emergency management professionals, and legal counsel, to develop a comprehensive contingency plan. It outlines some key elements of a contingency plan, including emergency communication protocols, evacuation procedures, and financial reserves. The blog emphasizes the importance of regularly reviewing and updating the contingency plan to ensure its continued effectiveness.


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Source Citation: 
Toronto Condo News
Predicting the Unpredictable
September 24, 2020
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