When an insurance issue comes up, most people will call their broker with simple instructions: “Handle it.” While this approach is not uncommon, it is becoming increasingly dangerous to “abdicate” rather than delegate. Insurance and risk…
Common sense notwithstanding, a lot of co-op and condo owners don’t have the adequate liability and property insurance they should have. Too often they assume that their building association has insurance coverage that will automaticall…
Every month, HOA residents pay monthly fees that are in turn used to pay for a variety of association necessities. One of those necessities is insurance coverage for their buildings and grounds. This isn’t the same as homeowner’s insuran…
It seems like the everyday operating expenses of condos and HOAs just keep going up and up—fuel costs, staff salaries, physical repairs and the cost of cleaning supplies and other materials have all crept up (or shot up) in the last coup…
Workers’ compensation is insurance that provides cash benefits and/or medical care for workers who are injured or become ill as a direct result of their job. Employers—and, in the case of some co-op and condo boards, corporations th…
Nestled on three and a half miles on the Hudson River at the foot of the Palisades, Edgewater borough is a small nugget of New Jersey’s Gold Coast. With a growing, young population looking for proximity to Manhattan, as well as a communi…
For many years—or at least until the energy crisis of the 1970s—urban and suburban planners didn’t seem to care much about conserving natural resources. Suburban towns were laid out in such a manner that you had to drive everywhere—even …
They don’t call it “the bottom line” for nothing. When all is said and done, pretty much everything in business (okay, pretty much everything, period) comes down to money. In most business situations, a company CEO or president has the f…
Along with big-ticket items like boilers, HVAC systems, and the like, residential buildings also have to purchase lots of little, everyday things like cleaning supplies, light bulbs, and paper products. Though not necessarily expensive i…
Imagine this scenario: you’re trying to purchase a co-op apartment, but also in the midst of a divorce. The board, concerned you may have to shoulder additional child support and alimony payments, fear that you might be unable to meet yo…