Building ownership, particularly for landlords, comes with inherent risks of loss. That’s why it’s especially important for owners of rental properties to have liability insurance as part of their risk management strategy. Beyond insurance, this article offers other best practices…
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…
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…
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…
When comparing insurance policies for your apartment building, make sure you understand the differences between Basic Form coverage, Broad Form coverage, and Special Form coverage. The first two might save you money in the short term. However, no one wants surprises…
Basement Rentals in New York—Legal or Illegal? Certain basement rentals in New York City are legal, while others are not. First and foremost, the subterranean space must be a basement, not a cellar. According to New York City law, the…
We're always looking for new topics that might interest New York City landlords. Even so, we find that certain articles keep attracting new readers. Following are the top 3 articles on our site. "What NYC Building Owners Need to Know…
To support New York City's goal of contributing zero waste to landfills by 2030, the Department of Sanitation (DSNY) has expanded recycling programs for electronics, textiles and organic waste. In fact, DSNY recently reported two major milestones: e-cycleNYC has collected…