Page 15 - The NY Cooperator August 2019
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Edith Schickedanz is an account execu- tive with Gumley Haft , a co-op and condo the installation company, not the manufac- management fi rm in Manhattan. “Usually, turer. Oft en these warranties don’t include there are two diff erent types of warranties,” visits for tests required by New York City.” she says. “One from the manufacturer for Th e charges for these tests can be expensive. the parts, and the other from the contrac- tor who does the installation and work. uniformity to warranties as a whole, in Manufacturer warranties can last for many many cases terms will diff er when it comes years, and contractor warranties are usu- ally for a year.” Schickedanz explains that Perhaps the most important consideration, you want both, but that oft en the manufac- turer’s warranty will require a contractor to ates the terms. In most cases, warranties do repairs that have been approved by the are arranged and negotiated by architects manufacturer. She also stresses that the best warranty is the 20-year NDL, because “Over time, contractors go out of business, and are no longer there to cover their warranty.” Warranties may also carry exclu- sions; for instance, a health insurance policy might carry an exclusion for preexisting condi- tions. If your building’s roof carries a war- ranty, but if your super goes up to fi x a leak and makes the situation worse, the warran- ty may be voided for all or part of the roof condo might enter into an agreement for and that claim. Terms and Conditions To a great extent, the terms and condi- tions of a manufacturer’s warranty depend ment between the two parties to complete a on what type of equipment is being guaran- teed. According to Reich, it’s important to fi ed period of time. Many times, service take note of the length of warranty, includ- ing when it starts. Is the start date the day of ties – but they’re not necessarily symbiotic. completion of the work, or the day of pay- ment for the work? Second, the warranty ments, like those for HVAC systems or should contain a notice provision. Th ird, it elevators, are required by the issuer of a should also contain a clause making clear warranty. In essence, you must have check- the exclusions that it doesn’t cover – usually ups and maintenance to keep the warranty things like vandalism or misuse. For exam- ple, if your roof isn’t equipped for foot traf- fi c, and residents still use it as a ‘tar-beach’ and value of your service agreement de- in the summer, any damage occurring from pends on who is negotiating it. Service such use wouldn’t be covered. According to Schickedanz, when it and boards need to pay close attention to comes to individual building systems, “Th e the terms, conditions, and what is includ- best warranty for a roof is a 20-year NDL. ed in a proposed agreement. A very good Th e warranty may prorate dollar limits, so example of this is that, as mentioned pre- it’s important to nail this condition down viously, most elevator service contracts do when the specs for the job are written. “Boiler warranties,” she explains further, proper maintenance can last much longer, perhaps 50 years. Elevators generally carry good warranties, but they are usually with In the fi nal analysis, while there is some to what is being covered, and by whom. according to Schickedanz, is who negoti- and engineers at the time when work is planned and con- tracted. While these professionals are usually conscien- tious and operate in the best interests of their clients, it’s still important for board members to pay particular attention to these terms as they are negotiated and agreed to – in other words, trust but verify. Service Agreements A service agreement diff ers from a war- ranty in that an entity such as a co-op or maintenance of a specifi c item like an eleva- tor, but the agreement is not a result of the purchase of the equipment. It is an agree- necessary level of maintenance over a speci- agreements go hand in hand with warran- Reich explains that “Some service agree- valid.” Schickedanz again stresses the extent agreement terms aren’t written in stone, not include the testing required by the City “Usually, there are two diff erent types of warranties. One from the manufacturer for the parts, and the other from the contractor who does the installation and work.” — Edith Schickedanz continued on page 17