The debate as to whether to hire a professional management company, given the financial burden, or to continue to be self-managed is a difficult one. When dealing with insurance, associations have four major issues they need to consider: communication, claims, renewal coordination, and budgeting. Communication key, the association needs a point of contact who has […]
read more »It’s a situation that no association wants to be in. You hire a cable company to install new antennas when a worker slips and falls through the ceiling. The worker is taken to the hospital with a broken collarbone and cannot work for the next couple months. The association assumed the contractor had workers’ compensation […]
read more »You contract a snow removal service to make sure the walkways are clear of icy hazards when one day you get a call that a tenant has slipped and fallen by the mailbox. You could have sworn that the mailbox was included in the contract, and it was, but the contractor had a lapse in […]
read more »Condos are recommended for people looking to try out the world of home buying, as well as aging adults looking to downsize. Before you jump into the condo market, do your homework and ask these questions before buying a condo. If you still have other questions that need to be answered, talk to the H&K […]
read more »Everyone wants somewhere to call home, and most don’t want their insurance company to adjust their premium based on the way they choose to live their life. Whether it be with pets, lifestyle habits, or location, it’s the way you want to live. You may ask though, how will these choices affect my insurance? […]
read more »“A hallmark of a shared ownership community is that you give up some of your rights for the good of the community,” said Ryan Poliakoff, one of the authors in New Neighborhoods: The Consumer’s Guide to Condominium, Co-Op and HOA Living. Unit owners are bound by the rules set by the condo association and enforced […]
read more »A part of any multi-unit condo is a condo insurance master policy. Overseen by the condo association, this policy provides general liability as well as property coverage in common areas and at the minimum “bare walls” coverage for individual units. This policy is put in place by the condo association after its founding and funded […]
read more »One of the great things about owning a home is being able to replace things you don’t like. Condo associations and unit owners find themselves in an odd place when it comes to this. While the outside of the condo cannot be changed and is owned and insured by the Association, the interior of the […]
read more »The members of a condo association board are often friends and usually neighbors. They work together to create a safe and positive place to live. Despite the comradery often experienced among board members, fidelity bond or fidelity insurance is important to condo associations. Unfortunately, some board members of the condo association may try and take […]
read more »As you establish your condo association governing documents (or review and amend them) one issue you are likely to face is the question of subletting condos. Subletting is one way the owners of a condos can create income. They do this by renting out their condo to third party tenants, often referred to as sublets. […]
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