FORTIS ENABLES HOA TO DEFER RE-ROOF AND SAVE BIG
The Homeowners’ Association of The REEF at Marina Pointe, a complex composed of 164 units, was facing a dilemma. The roofs of their 8 buildings were 15 years old, at the end of their warranted life, and some had sustained hail storm damage. But the HOA had failed to establish adequate reserves to complete a re-roof. They were left with non-performing roofs and the need to impose special assessments on the residents.
Fortis provided an alternative solution. Utilizing our proprietary Fortis Roof Risk Assessment (FRRA) and laboratory testing of roofing materials, we determined there was considerable remaining performance life in the shingle roofs. We were able to recondition the roofs by utilizing our patented Rubberized Asphaltic Membrane Fiber-reinforced (RAMFiR) assembly, bringing the roofs up to a warrantable condition and providing a 10-year, no-dollar limit extended warranty – no exclusions except for damage by others or acts of God.
BOTTOM LINE IMPACT
Fortis saved the HOA from a major expense by enabling them to delay the cost of a re-roof. The residents got guaranteed roof performance and no unexpected costs for roof repairs during the entire warranty term. And the solution allowed the HOA time to build reserves in anticipation of re-roofing in 10 years.
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