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The board of a condominium, cooperative, or homeowners’ association literally exists to serve, and to represent residents’ best interests in the day-to-day business of the association. The relationship between the owner/shareholder and the …
One of the unique things that sets co-op, condo and HOA living apart from living in a single-family home, or even a rental, is the buyer’s choice to live in a community-within-a-community. By purchasing a unit in a particular building or de…
There’s an old adage that ‘insurance is for pessimists’ – but that’s very much not the case. In the world of home ownership, and especially in shared communities, proper insurance is a critical factor in protecting not only your most import…
Insurance can seem like a mundane administrative afterthought – right up to the moment you need coverage. In a community association, just because a responsible board handles the lion’s share of maintaining the policy covering common areas …
Insurance may not be the most exciting topic facing boards in multifamily co-ops and condos, but decision-makers neglect it at their peril. Here, an insurance pro outlines some of the more common mistakes he sees boards make when it comes t…
When it comes to selecting a multi-family building insurance premium, the natural tendency is to go with the least expensive option. But cheaper doesn't always mean better or even proper. Insurance expert Edward Mackoul outlines the common …
There are few things more traumatic than dealing with a fire in one's home. From loss of possessions either replaceable or one-of-a-kind, to the exponentially more horrific potential of lost human life, the baseline is bad -- and things can…
It’s that time of the year again: the Christmas lights are up; the air smells of pine trees and potato pancakes; and there’s a possibility of snow, sleet and ice. There’s also a chance that someone might slip and fall at your co-op or co…
Every board knows how important it is to have adequate, up-to-date insurance coverage to protect their community from liability, disaster, and other expensive situations -- but what about board members themselves? Directors & Officers (D&O)…
Property insurance is one of the most important components of protection for common interest communities. It protects the property, association, corporation, board members, and residents from potentially financial consequences in the event…