While no one likes to think about lawsuits (except for perhaps litigation attorneys), they are a fact of life—one that association boards and property managers need to prepare for with directors and officers (D&O) liability insurance. Previous articles have addressed how…
To help protect New Yorkers, the New York City Fire Department (FDNY) requires landlords to post and distribute certain fire safety and emergency preparedness documents. The requirements apply to multiple dwellings in New York City, those with 3 or more…
Illegal basement apartments are among the most common infractions here in New York. Based on our site traffic, many building owners and tenants have questions about the legality of basement apartments. Following are frequently asked questions concerning these subterranean spaces…
The best way to save money on insurance is to lower your risk profile and avoid claims. In addition to the practices covered in our article on building a property profile, these safety tips can help managers of apartment, co-op…
The sidewalks around your building may belong to New York City. But the responsibility for maintenance and sidewalk liability belong to you. In fact, underwriters report that sidewalk-related injuries are the leading liability claim against New York City landlords. We’ve…
Falling temperatures herald the holiday season, but winter weather also brings a new set of risks, including slips and falls, burst pipes, and space heater fires. Use this handy winter checklist for landlords to protect your residents and your property…
With mold exposure linked to several adverse health effects and symptoms, mold prevention is essential for maintaining a healthy indoor environment. In fact, horror stories abound of people who have been forced from their homes because of toxic mold. The…
Building ownership, particularly for landlords, comes with inherent risks of loss. That’s why it’s especially important for owners of rental properties to have liability insurance as part of their risk management strategy. Beyond insurance, this article offers other best practices…
There’s not much excitement for most landlords, property managers and building owners when it comes to routine housekeeping and maintenance. But there’s an excellent reason why you should care about housekeeping and maintenance: your insurance company does. And so do…
In our litigious society, association boards and property managers need to protect themselves against legal action. Consider the following examples of actual disputes: One association board spent $1 million defending itself against a resident allegation that a special assessment was…