While crime rates are steadily decreasing nationwide—even in the Big Apple—multiunit dwellings are often more difficult to 'police' due to the number of residents, visitors, delivery personnel and third party workers such as contractors. A…
There has been much discussion recently about the antiquated New York Labor Law 241 and its effect on the availability and cost of insurance coverages for contractors. The fear is that smaller contractors will get priced out of purchasing …
When you decide to run for a board, you’re usually thinking about all the great changes you’re going to make to your building, along with all the time and effort that you’re prepared to sacrifice for the good of your home. Of th…
In pretty much all states except New York, if someone doing construction work is injured on the job, workers’ compensation insurance will take effect and cover all medical expenses and lost wages. Here, according to a spokesp…
Lawsuits are usually not an association’s go-to method for dispute resolution. Expensive and time-consuming, they can quickly turn into a financial burden and may create strained relations in the community. Unfortunately, in some cases …
Legendary funny man Benny Goodman once said, “I don’t want to tell you how much insurance I carry with the Prudential, but all I can say is: when I go, they go too!” The comedian hits on all-important issue: how much insurance is too muc…
When it comes to insurance, there's more to think about than just premiums and deductibles; on one side, there's insurance fraud—and on the other, there's the insurance that protects you from fraud. Both sides of the equation are import…
In the typical suburban condo development, one must go to another location to shop— maybe to the mini-mall, or the big box store down the road. But in New York City co-ops and condos, stores are often found on the ground floor—supermark…
Insurance is a relatively simple concept that any homeowner can understand. You purchase a policy paying a premium to an insurer, and when a claim gets filed, the insurer pays. So in theory, insuring your co-op or condo building should …
Most boards of co-ops and condominiums spend a lot of time negotiating the terms of their contracts with general contractors; however, it is often subcontractors who do most of the work. Sometimes the Boards are not even aware of how m…