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…
If you own a building in your personal name, then you’re opening yourself up to a world of liability. Let’s say you’re a landlord. A tenant sues you over repairs you may or may not be obligated to make. A…
When shopping for landlord insurance, can you find bargains at certain times of the year, like buying cars and televisions? Or does it make sense to wait 60 to 90 days before your current landlord insurance policy comes up for…
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…
While it’s important to have the right landlord insurance, no one really wants to file a claim. Many of the perils covered by landlord insurance and riders, such as fires and storms, lay beyond a landlord’s control. However, certain preventive steps…
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…
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…