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Over the past few years, operating expenses for everything from fuel to labor to the cost of cleaning supplies have been steadily rising—and disrupting co-op and condo association budgets - all over the country. The premiums for properly in…
The topic of insurance can provoke fear in the most steadfast of board members. It’s both terrifying in what its purpose implies, and yet at the same time mind-numbingly boring. It’s also one of the most important components in protecting o…
Inflation has hit the insurance building insurance industry in a big way. And according to a recent survey conducted by the Foundation for Community Association Research (FCAR), skyrocketing premiums are putting serious financial pre…
In early 2020, our firm was hired to prepare a reserve study for an unremarkable 136-unit, 12-story condominium in south Florida. It was the kind of association you could drive right by without noticing, not much different from all the othe…
Insurance coverage and the inevitable claims that coverage defends against are a fact of life for multifamily residential communities. In that setting, it’s critical for all parties to understand whose policy covers what, and under what cir…
From flood waters and property damage to power loss and spoiled food, coping with the aftermath of a powerful storm can be very troublesome for co-op and condo community board members, owners, and tenants. Therefore, during the Atlantic Hur…
From flood waters and property damage to power loss and spoiled food, coping with the aftermath of a powerful storm can be very troublesome for co-op and condo community board members, owners, and tenants. Therefore, during the Atlantic Hur…
For many, the topic of insurance can be a bit overwhelming. Even the terms we use as insurance purchasers differ substantially from the terms industry professionals use when discussing and settling claims—which can leave laymen feeling like…
In recent months, there have been two major cyberattacks on property management firms. Personal information for building residents and employees, including Social Security numbers, dates of birth, mailing addresses, driver’s license numbers…
In the wake of a tragedy of the size and scope of the recent building collapse in Surfside, Florida, many board members in condos, co-ops, and HOAs have concerns about what liability they may assume in their administrative role. This concer…