Steve Fabry founded Compendia®, formerly Master Manuals® in 1999 to address the growing concerns homebuilders faced with out of control Construction Defect Litigation and the spiraling costs associated.
The idea was simple...
Give homebuilders a tool to mitigate the risk; a manual that detailed a community’s maintenance requirements for a Homeowner’s Association Board to follow. A tool that spelled out the division of responsibility between builders and the HOAs—a document that allowed for the proper upkeep of the community while protecting builders from frivolous CDL lawsuits.
It was a novel idea...
On the cusp of the 21st century, even toasters came with maintenance documentation, but the most complex, complicated, and emotional investment people ever make—their home—didn’t. And builders were paying the price; frivolous lawsuits, high insurance premiums, inability to recovery warranty costs.
Costs of this oversight were high. Industry figures indicated that more than 80% of lawsuits filed against homebuilders and general after-sale costs were not the result of initial construction defects. Studies showed that most lawsuits were a result of inadequate maintenance that may have been prevented (not to mention successfully defended) had proper documentation been provided by builders.
What Compendia found is that the manuals not only satisfied certain risk issues for builders, but significantly impacted customer satisfaction. They found that Compendia solutions created added-value and created a more relevant, personalized and compelling customer experience. This in turn resulted in fewer service calls and reduced operating costs…and, of course, greater repeat and referral business.
The idea caught on...
Since its founding, Compendia has continued to grow at an astonishing pace. The idea of providing professionally-produced documentation solutions has transformed the building industry…so much so that Compendia grew from a modest regional company to the national market leader in only a few short years.
And the ideas keep coming.
Compendia continues to develop new and innovative ideas that keep the company ahead of the curve. In 2001 MM unveiled HomeCD, an electronic version of their successful manuals; 2005 saw the arrival of Home Online™ and Master Archives™, which promoted web-based records retention and on-demand maintenance information. In 2008 we unveiled three industry-changing solutions: the online interactive maintenance resource systems Home Experience and Community Experience and the Green Homeowner Maintenance Guide.