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…
Owners of apartment buildings and brownstones can lower their insurance premiums by creating a building profile for the insurance company. Simply, this document presents the building in the most favorable way, ultimately demonstrating that the property poses a relatively low…
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…
Does the name on your insurance policy match the name on your property deed? This might sound like a trick question. Unfortunately, it’s a situation that we’ve encountered a couple of times. Property deeds and persnickety policies Consider the fictional…
The master insurance policy of a condo or co-op affects not only the property, but also individual residents. When buying insurance for a condo or co-op building, the managing entity needs to balance adequate protection with fiscal responsibility. Having the…
As a landlord, you’re often liable for many incidents and conditions beyond your control. Mother Nature drops a foot of snow, and someone slips and falls on the sidewalk outside your building. Tree roots push up part of the sidewalk,…
Under New York Labor Law Section 240 (1), also known as the Scaffold Law, building owners and/or their managing agents may be held liable for certain on-the-job injuries to contractors. The legislation was enacted in 1885 to protect construction workers…
What insurance does a landlord need? This article covers both basic landlord insurance and optional coverage you may want to consider. If you’re considering renting out your property and you’re not planning on living there, chances are, your homeowner’s insurance…
If you've received our postcards, you may have noticed that our policies include sewer backup coverage. That's because backed-up sewers can cause a great deal of damage to floors, walls, furniture and electrical systems. Most insurance companies offer sewer backup…
