Survey Reveals Over 70 Percent Of Residents Look At Maintenance When Choosing Living Spaces

Maintenance and Repair Play Key Role in Multifamily Resident Satisfaction

LAS VEGAS (Tuesday, October 18, 2005) - Today, Owens Corning released survey
findings that revealed 71 percent of residents from multifamily dwellings feel
that efficient, prompt and reliable maintenance and repair is an important
factor in choosing a living space. Further, 67 percent of those surveyed
indicated that satisfaction levels with their builder association or property
management company would improve significantly if they demonstrated a
commitment to meeting maintenance and repair needs more effectively and
efficiently.
"This is very revealing news for the multifamily building industry," said
Frank Sette, National Director, Owens Corning HOMExperts(R). "The findings
from this study illustrate that there is a definite opportunity for management
companies and building owners to differentiate themselves from competitors by
meeting the maintenance needs of their tenants and homeowners."
The survey*, which Owens Corning undertook in conjunction with the
company's Construction Services business, measured the perceptions, attitudes
and behaviors of residents living in condominiums and multi-unit complexes,
towards overall home maintenance and repair.
Additional data from the survey highlighted the top 10 most frequent
repair and maintenance needs of multifamily residents, which include:
-- Painting and paint touch up
-- Plumbing repairs
-- Recaulking and replacing tiles on sinks and tubs
-- Mounting/adjusting or repairing doors and cabinets
-- Weather-stripping, caulking and sealing doors and windows
-- Repairing drywall and plaster
-- Replacing and testing of smoke detectors
-- Fixing or adjusting lighting and electrical repairs
-- Making sure that doors and windows open, close and lock properly
-- Maintenance decks, balcony or patios

The survey also provided an interesting perspective on multifamily
resident's opinions regarding common living areas. 72 percent of those that
participated in the survey asserted that maintenance and repair of exclusive
use and common areas are a high priority because risk and exposure goes beyond
individual living units. Residents feel that there is an increase in
liability that can be tied directly to maintenance and repair issues of common
areas, which impact insurance costs, special assessments and diminish equity
and resale value of individual units.
Understanding the importance of maintenance and repair issues, Owens
Corning Construction Service's business offers programs such as Life of the
Home(R) and HOMExperts(R), which provides business differentiating
construction and warranty services to builders, that allows any building owner
or management company, regardless of size or number of residents, to customize
a program to fit the particular needs of their tenants and homeowners.
Programs include concierge and move in services, periodic check-ups,
comprehensive maintenance services as well as repair and improvement services.
"Given the results that have come out of this survey, building management
companies must recognize that while not glamorous, identifying and managing
potential problem areas associated with building projects can help reduce the
costly threat of litigation over the lifecycle of their developments," said
Sette. "In a highly competitive marketplace such as this, it takes more than
just a good looking condo or apartment to keep residents satisfied."

Owens Corning is a world leader in building materials systems and
composites systems. Founded in 1938, the company had sales of $5.6 billion in
2004. Additional information is available on the Owens Corning Web site at
http://www.owenscorning.com or by calling the company's toll-free General Information
line: 1-800-GETPINK.
* For more information on survey results, please contact Gene Cyranski at
GolinHarris.

Contact: Kerry Desberg Gene Cyranski
Owens Corning GolinHarris
419.248.5939 312.729.4218
kerry.desberg@owenscorning.com gcyranski@golinharris.com

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