Every owner of a small rental property in New York City, especially if they’ve been an owner for a while, knows that insurance is more difficult than ever. Premiums are rising, underwriting requirements are tightening, and insurance companies are scrutinizing…
Owners of small buildings in New York City are facing an almost impossible insurance market with: Rising rates Fewer carrier options Premium spikes Upfront payment demands Insurance costs for multifamily buildings in New York City have climbed sharply. According to…
Many owners of small buildings, especially newer landlords, may not be aware of an organization just for them. For more than 40 years, Small Property Owners of New York (SPONY) has been a leading resource for advocacy and education to…
Does the name on your insurance policy match the name on your property deed? Does it match exactly? This might sound like a trick question. Unfortunately, it’s a situation that we’ve encountered many times. Even a minor difference can be…
A slip, trip or fall can mean nothing more than a bruise and a little embarrassment, or it can result in serious injury, litigation, and costly insurance claims. Every year, nearly eight million people wind up in a hospital because…
In New York City, the New Year triggers certain responsibilities for landlords—most notably, the annual notice requirement, which applies to multiple dwellings (residential buildings with at least 3 units). Even for property owners outside the five boroughs, these simple tasks…
New York Landlord Insurance: Protecting Your Investment Protecting your real estate investment in the Greater New York City area begins with the right landlord insurance. A comprehensive policy can help cover property damage due to storms or other disasters, repairs…
Experts predict a warmer winter ahead here in the Northeast due to the combination of La Niña and climate change, but that doesn't rule out powerful winter storms in the months ahead. New York City landlords need to prepare for…
The American Automobile Association (AAA) projects that at least 73 million people will travel at least 50 miles by car this Thanksgiving holiday. While this number includes an additional 1.6 million travelers due to recent airline challenges, it also reflects…
The sidewalks around your building may belong to New York City. But the responsibility for maintenance and sidewalk liability lies with you. In fact, underwriters report that sidewalk-related injuries are the leading liability claim against New York City landlords. Why…