Tag: Home insurance

Q&A Q&A: Are roommates in rentals illegal?
2015 September Q&A: Are roommates in rentals illegal?

Q  I received a letter, dated May 4, 2015, stating that I have an illegal tenant occupying my unit.  It stated that all unit owners must inform management about any tenants and provide proper paperwork, including names, phone numbers, and …

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Insurance Homesharing and Insurance
2015 August Homesharing and Insurance

In a city like New York, 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-s…

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Insurance Property Insurance Basics
2015 August Property Insurance Basics

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 …

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Insurance Should I Stay or Should I Go?
2015 August Should I Stay or Should I Go?

There are approximately 3 million New Yorkers living in New York City’s 6 hurricane evacuation zones. This fall, should a Class 1 hurricane (74 mph) make landfall New York City will order the evacuation of those living in the most flood pro…

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Law & Legislation The Condo as Legal Entity
2015 June The Condo as Legal Entity

In South Africa, it’s called a “sectional title.” In Quebec, it’s a copropriété divise or “divided co-property.” In Italy, they call it “condominio,” derived from Latin. Regardless of location, a condominium—commonly referred to as “condo”…

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Law & Legislation Going Overboard
2014 October Going Overboard

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 ha…

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Insurance When Waters Rise
2014 August When Waters Rise

According to a 2013 poll by the Insurance Information Institute, only 13 percent of American homeowners have some sort of flood insurance policy, and those living in New York City are low on that list. After all, New York City certai…

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Insurance Identifying Insurance Options
2014 August Identifying Insurance Options

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…

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Finance Keeping the Books
2014 April Keeping the Books

Think back to when you were younger and got your first job. You worked your hours—perhaps flipping burgers, taking orders or cutting the grass—and then earned your first paycheck. You went to the bank, signed the back and had it cashed and…

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