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How Public Adjusters Can Help HDFC Co-op Clients

Quiet Empty Sidewalk In Front Of The Old Building Along

For those that are not familiar with what an HDFC Building is, HDFC stands for Housing Development Fund Corporation. HDFC co-ops contain affordable co-ops which can be found throughout NYC including Upper Manhattan, Lower East Side, Brooklyn, Bronx, and Queens. Similar to any other NYC co-op building, HDFC cooperative shareholders are subject to building by-laws and have a board of managers.

While the goal of the board of managers is to keep the operating costs and maintenance charges low, even well-managed buildings can experience a major property damage due to a roof leak, plumbing riser break, sprinkler activation, or fire. For HDFC buildings that are self-managed by the Board of Directors, this can be an overwhelming task to undertake on their own.

Our team, United Public Adjusters & Appraisers, Inc. understands the roles and responsibilities of the Board of Managers, which is to make sure the HDFC co-op is healthy and functioning well. With our experience in understanding and interpreting co-op by-laws, proprietary leases, building insurance policies, and having in-depth knowledge in construction damage estimating, we are prepared to advocate on behalf of our HDFC cooperative clients whether self-managed or managed through a professional 3rd party management company.

Having one company to handle the claim reporting, valuations, and negotiations with both the building’s master policy and the individual shareholders insurance companies is key to a successful claim recovery. The last thing any HDFC co-op building needs, is an increase in maintenance fees or an assessment to pay for property damages, especially when the damages are to be paid for by your insurance company. With any business including insurance companies, the goal is to remain profitable which means your HDFC cooperative building should consider interviewing and hiring an experienced public adjusting firm that works solely for the board’s interests, not the insurance company.

Our proactive claims management support team is local and is available 24/7 to respond to any complex property loss by Water or Fire damage. Call us at 1-800-718-5677 (LOSS).


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