Managing real estate investment property (i.e., being a landlord) is a business. The upside is huge, but there is also great risk, as with most businesses. It’s not just about revenues rolling in. These real costs and expenses are unavoidable…
Though many homeowners and building owners find cleaning their gutters once or twice a year difficult, it’s worth the effort. Gutters are one of your home or building’s primary defenses against flooding, mold growth, ice dams, and foundation damage. When…
The City Building Owner Insurance program has published a 68-page guide to help New York City-area landlords save time and money. Based on decades of experience working with owners of multi-family properties, we’ve included a wide range of content so…
A business or commercial umbrella policy can supplement an existing landlord insurance policy, offering additional liability protection. This article looks at situations that umbrella policies can cover and offers guidance for identifying how much coverage you might need. (Spoiler alert:…
The pressure to fill vacancies quickly conflicts with the need to find quality tenants who pay on time and take care of the property. Failure to meet one or both requirements can lead to costly problems like lost rent or…
Retaining tenants is easier said than done. Tenants move out for many different reasons, and most of them (family needs, employment, etc.) lie beyond your control. But one way you can decrease tenant turnover is to help tenants feel connected…
Finding the best insurance for a small condo or co-op building, especially if the building is self-managed, can be challenging. How do you know how much insurance you need? What types of coverage are critical to protect the residents and…
Several times a week, people ask us about the difference between an insurance agent and an insurance broker. Here's the short answer: An insurance agent represents a specific insurance carrier and has the power to bind a policy on behalf…
Once you've found the right commercial property coverage for your residential building, the final item you should consider is an umbrella policy, sometimes known as an excess liability policy. This type of insurance policy provides additional protection in the event…
Every landlord wants to find good tenants who pay their rent on time, treat the property with respect, and follow the rules established in the lease. Considering the many expenses associated with turnover (e.g., marketing, screening, vacancy-related rent loss, professional…