It’s every landlord’s nightmare: a leak, flood, burst pipe, or overflowing sink or appliance that goes undetected until major, expensive water damage occurs. Landlords and property owners are right to be nervous. In New York City, water damage in multi-family…
If you own a rental property, you’ll want to make sure your landlord insurance includes Loss of Rents coverage. This special protection will replace lost income if a covered event requires tenants to move out while units undergo repairs. While…
Basement apartments in New York City have received extensive press as a potential solution to relieve the city’s ongoing housing crisis. Basement units can offer added revenue potential–but only when fully compliant with NYC law and building codes. Private entrances…
Landlords can require tenants to be responsible for sidewalk winter conditions per the lease agreement, but be careful. Even if you don’t live in the building and delegate responsibilities for snow removal to a tenant, that doesn’t absolve you of…
People call our office all the time, wondering why multi-family building insurance is so much higher than homeowners’ insurance. Sometimes they’re even wondering why an insurance company declined to make them an offer. To qualify for the best insurance rates…
New York City requires property owners to maintain the sidewalks adjacent to their properties. This requirement generally comes down to snow removal and sidewalk repair. Sidewalk violations The Department of Transportation (DOT) has oversight over New York City's 12,750 miles…
For properties with three or more units, New York City law requires that building owners install and maintain window guards for apartments where a child age 10 years or younger lives. Every window in the apartment, except those leading to…
Whether you need to insure a two-family brownstone in Park Slope, a warehouse in the Bronx, or an apartment building on the Upper East Side, insurance companies look at many of the same factors when insuring a rental property to…
New York City's mandatory composting requirement, which went into effect earlier this month, has received extensive news coverage. The city also offers additional programs to help residents recycle unwanted items, including e-waste and clothing. Owners of buildings with 10 or…
For many landlords, especially first-timers, the cost of insuring their building may seem mysterious. Why are landlord insurance costs so different from their homeowner’s policy? Why is the rate so different from the seemingly identical building next door? And, most…