Anticipating Y2K problems.

Whether it's a tempest in a teapot or the beginning of a virtual headache, the warnings are everywhere about possible building mishaps occurring at the stroke of midnight year 2000 - Nostradamus notwithstanding.

Moreover, residential building owners and property managers are wise to become doubly vigilant about addressing some of next year's issues, today. So, in addition to the routine monitoring of our properties' equipment, finances, staffs, legal issues and compliance requirements, we are now compelled to check for Y2K compatibility for virtually every piece of equipment and service contract.

Among the newer Y2K warnings are the letters being sent by our properties' insurance carriers. Midboro recently received one with the heading "Year 2000 Computer-Related and Other Electronic Problems Exclusion." Ostensibly, it's a disclaimer for something that might happen - or might not - next year. What it translates into is the redirection of fiduciary responsibility to the owners and managers without the benefit of an insurance safety net.

Although most of the equipment in residential buildings is not computer dependent - we rarely have the same multiple elevator banks or HVAC systems as commercial properties - there are issues that will need to be attended to quickly. Certain building items such as security systems, heating systems and even garage door openers could possibly be impacted by computer date-related issues. But for the most part, residential systems - except in the newest buildings - will probably not be directly affected by computer glitches.

In fact, our greatest liability is in the form of service to the equipment. The types of potential disasters that we are trying to avoid concern maintenance, in which we are dependent upon others' Y2K compatibility for schedules to be met and service contracts fulfilled.

For example, one scenario might concern a boiler inspection and cleaning scheduled for February 24, 2000. The hypothetical service provider brings up his computerized calendar and doesn't have your property scheduled for that week - or any other properties for that matter - because the week is now scheduled in the year 1900, so he moves on to other pressing matters. Having done business with this company for years, you are confident that the routine inspection is being attended to. But it's not, and in the interim, the boiler breaks down. Now the question arises, who will pay for the extensive repairs that will be necessary?

In most cases, the insurance companies are letting us know - a year in advance - it will be the building's responsibility. So despite the fact there is a standard service contract, plus insurance coverage already in place, the majority of the insurance companies will not cover any Y2K-related mishaps unless there is a letter from the service provider or manufacturer stating Y2K compatibility. Obviously, it is imperative that we procure such letters as quickly as possible.

As per the validity of these letters confirming Y2K compatibility, none of us truly knows whether any efforts can ensure that the double digits will push forward to 2-0 or back to 1-9. Furthermore, disclaimers are not limited to insurance companies; everyone seems to he sending out Y2K exclusionary letters - from manufacturers of photocopiers to the companies providing computer-chipped coffee makers to our offices.

More realistically, the types of Y2K-related problems that will have an impact upon us will be in the nature of personnel absences due to public transportation breakdowns. But even now, city-wide computer glitches in traffic lights and subway tunnel signals can result in late or missing doormen, elevator operators, porters, etc. As managers and owners, we already have alternate lists and contingency plans, which should carry us well into the next century.

The same applies to the water tanks that depend upon the city's computer-monitored pressure systems. If pressure is lost, we have ways to cover the initial problems, although this might be a good time to organize additional water storage - just in case the repairs are less than immediate at the turn of the century.

Ironically, this high-tech world in which we function so well is beginning to take on an almost a science fiction quality. Picture this: It's the year 2000 and we are temporarily forced to use our manual records and desk calendars exclusively. In addition, we must physically review the paperwork that's in our file cabinets, rather than on E-mail.

Maybe it's not so bad after all. If we do our homework and prepare now, Y2K's possible repercussions will be manageable. Frankly, I have no doubt that we will continue to carry on with the same high standards of service without panicking about Y2K liabilities. Now, if I could just feel as comfortable about next year's airline reservations.