Co-op buildings routinely require contractors to provide a Certificate of Insurance before any work is started either in a building or for individual shareholders. The managing agent or the shareholder will usually provide a list to the con…
Q Our new condominium contains, as part of its common elements, an atrium and courtyard. What do I need to know about instituting rules and regulations for these common areas in light of the fact that the board would like to afford res…
Reading the papers you've just been served, your heart quickens in fight-or-flight mode. Part of your mind can't believe your eyes. You've just been sued, and you aren't sure what your next step should be. To people who aren't lawye…
Who is in you building? Do you know? And most importantly, do you care? If you answered ‘no’ to either of those last two questions, you could be in for a rude awaking. In today’s environment more and more building owners and man…
One of the most important things that a co-op or condo must take into consideration when hiring a contractor for a maintenance or construction project is whether the service providers the building are bringing in to do the work are prope…
Even though crime statistics are lower in New York City today than they have been in decades, the fact remains that in an urban metropolis such as this, crime is a reality. It only takes one break-in or personal assault to focus everyone…
In 2001, the Amalgamated Houses co-op in the Bronx paid $287,000 in insurance premiums. The following June, when the existing policy terminated, the yearly tab rose to a staggering $427,000—an increase of almost 50 percent. And wasn’t …
Since they were first built, apartment buildings have been insured for disasters and unforeseen circumstances—the things nobody ever wants to happen, but has to admit are possible. Things like fires, floods, earthquakes and so on. In t…
Any number of things can set off an insurance claim in a co-op or condo building. Someone can slip and fall in the lobby; there can be aesthetic damage from a construction project, or a leaky roof can cause major water damage— sometime…
While there are many similarities between co-ops and condos, are the two very different when it comes to things like insurance and liability? The answer is both yes and no. There are similarities, but some significant difference…