If it's like a ghost town in your building and summer hasn’t hit yet—where is everybody? Maybe they’re on a winter hiatus and are inhabiting their second home in Florida—and that possibly means a season-long absence from their co-op or co…
Tag: Home insurance
Condos and homeowner associations have made headlines over the years for passing all kinds of overreaching and downright silly rules and regulations—everything from forbidding the flying of the American flag to having prohibitions about han…
From equipment failure and personal injuries to tornadoes and tropical storms, disasters happen. Any condominium association worth its salt knows that it needs to be prepared for a rainy day. A great chunk of that preparation is insurance.…
In the tri-state area, where even the most profligate among us may shed a tear or two at hotel room prices, the homesharing trend has grown by leaps and bounds, with more co-op and condo owners than ever renting out their units to short-st…
Property insurance, by definition, is a guarantee of compensation for a specific loss or damage to physical property or equipment. Within that broad and simplified explanation there is room for multiple interpretations—and more than enough…
Boards and associations, just like individuals, carry insurance coverage to protect them from liability, loss and other financial and legal problems, although the issues may be a little different than the typical auto or single-family home…
Communication is vital to running a successful condo or co-op building. So what happens when homeowners complain that board members are not listening, and—even worse —ignoring their complaints and problems? Well, you can bet it will …
You can’t underestimate the value of insurance. In a simple analogy, operating a business—or the day-to-day business of a co-op or condo—without adequate insurance coverage is a lot like skydiving without a parachute. Needless to say, it’s…
Say you’re in bed, and you hear what sounds like the shower going. It's late, and you're tired, so you pay it no mind. You wake up at 4 a.m. to get a glass of water and find half the rooms in your apartment flooded— you forgot to turn the …
When is a flood not a flood? That’s a serious question for the Garden State's residential communities. Even if they have flood insurance, damage caused by heavy rains and backed-up sewers may not meet the National Flood Insurance Program (…