Apartments should be profitable to the companies that own them and their investors. When an apartment owner pays to repair construction defects caused by the improper work of others, profits significantly suffer. Companies that own or manage apartments owe it to themselves (and often a fiduciary duty to their investors) to ensure this doesn’t occur.
Since the 1980’s, the attorneys at Hearn & Fleener have successfully helped apartment owners maximize profits and avoid repair costs stemming from the faulty construction of others. In many cases, the owner of the apartment complex is the original developer and can make claims against the various subcontractors for inferior and negligible work.
Consultants and experts have generally found construction of apartment projects to be inferior to other multifamily type construction including condominiums and townhomes. Apartment complexes are unique because nearly all components of the project are the responsibility of the owner and management. However, repair costs associated with another’s defective construction can, and should be, avoided.