There are many factors that contribute to the rise and fall of insurance premiums.
The marketplace of insurance is very reliant on the supply and demand of the market. Entering 2020, the insurance industry was in what we call a “hard market”. We’ve been in a soft market for several years. A soft market typically means insurance companies are focused on premium growth, as they are making money elsewhere, such as investment income. This allows them to charge lower premiums to grow their market share. In addition, they relax their guidelines. In turn, this means more carriers are willing to provide quotes resulting in lower insurance premiums for insureds.
Over the … read more
With the classic movie The Princess Bride grabbing headlines this week, it seems appropriate to discuss something in multifamily housing that is truly inconceivable: rent concessions. Recently published data shows that concessions of all types are growing fast in order to attract new residents in the wake of the COVID-19 pandemic, and free rent leads the way in offerings. According to RHJ, “The rate of rental concessions can often be a leading indicator of a coming price drop, because landlords will often [sic] concessions first, before reducing rent.”
It’s time to storm the castle using a new tactic: pets. Living in a pet-inclusive community is one of … read more
It’s not a secret that we’re heading straight into a housing crisis as eviction moratoriums expire. But that doesn’t mean that animal welfare organizations are powerless in the quest to keep people and their pets together.
How long have you been in the business and how did you get started?
6 years. I was eating dinner on a vacation when the owner of the company sat down next to me. This was before I worked here so we were meeting for the first time and we were talking about a bunch of different things; everything from Syracuse Basketball to what I was doing for a living. Not knowing I was on an interview at the time, I did everything they say you shouldn’t do. We were drinking (again it was vacation) and I was complaining about my boss. By the end of the dinner, he offered me a job and I took it. Best decision I ever made and I am very grateful to have the opportunities … read more
last Friday power was out for an hour, when it was restored, the surge blew out a circuit board that controls our elevator door, the "Titronic Safety Edge," The replacerment and repair was done the same day to get the elevator going and cost $4500. Will Con Ed remimburse me or am I wasting my time to file a claim?
Opening Doors has just released its guidebook "Building Safer Pet-Inclusive Communities,” a manual that provides landlords and property managers with tools to implement a comprehensive pet program that fosters a safer and healthier community for all residents — even those without pets. It addresses ways to curb poor resident waste management practices, resolve nuisance issues and neighbor disputes, respond to questionable ESA verification letters, and other policies to ensure better communication, management, and accountability with all two- and four-legged residents.
Kilims are flat woven textiles made of intersecting wefts and warps. They have been woven for purposes such as baby cradles, tent bands, tent covers, floor coverings of tents, and many other functions for thousands of years. The kilim rugs provide more than utilitarian benefits.
They have unique aesthetics and great beauty. In recent times, kilims have gained popularity in European and American interior design. Here are some guidelines on the care of handwoven kilims so they are preserved and can be handed down to future generations.
Many companies for rug cleaning in NYC offer oriental rug care services but few really know how to handle kilim rugs the right way.
In the … read more
Our Legal Expert Michelle, with @Itkowitz PLLC , wrote a blog: "Reasons the NYC Covid-19 Anti-Personal Guaranty Law Is Just Not That Great For Commercial Tenants " Click here to read more blogs and helpful educational content from Michelle!
On May 26, 2020, the Mayor signed into law Bill Nos. 1932A-2020 and 1914-2020 (collectively “New Law”). These laws were apparently intended to limit the personal liability of good guy guarantors for liability incurred by a commercial tenant in New York City between March 7, 2020 and September 30, … read more
Many people know little about Persian or Oriental rugs until they inherit one from a parent, grandparent, or another family member. A reliable Oriental rug cleaner should professionally clean Oriental or other handmade rugs.
Dirt that is deeply embedded between the fibers on the rug cannot be removed by routine vacuuming. Having carpets professionally cleaned minimizes the risk of damage by moths. Professional cleaning is imperative if the rug is to be stored for an extended amount of time.
If planning to use the rug, check for damaged areas. Have fringes and selvages repaired and worn pile addressed. It is easier and costs less … read more
Is this just for residential tenants or does this edict include commercial tenants also?
With all that’s going on, plenty of business owners have probably heard the term ‘business interruption insurance’ more than ever before. As everyone continues to navigate the COVID-19 pandemic day by day, we have been receiving numerous questions about business interruption coverage and why, unfortunately, it is typically not available for COVID-19 related losses.
Business interruption insurance covers financial losses when a business cannot function because of physical damage to a commercial property due to a covered loss. For example, if you owned a restaurant and had a fire in the kitchen, the restaurant would not be able to run as … read more
While the coronavirus pandemic continues to affect the world as a whole, New York City is proving to be hit particularly hard. As we know, the city is very densely populated, and the majority of its residents live in community associations. Building owners, board members, and property managers have new responsibilities when it comes to their property and their tenants.
If you know that there is a positive case of coronavirus in your building, it’s best to notify your residents and instruct them to take extra precaution. Do not disclose the sick tenants name, … read more
The CDC has made a clear distinction between sanitizing, disinfecting, and cleaning. Cleaning merely removes impurities and germs with water and detergent. Disinfecting kills and eliminates viruses. Sanitizing lowers the germ count to a safe level.
The coronavirus is causing many businesses to enhance the cleaning of their facilities and offices. If disinfecting is not done correctly, they end up cross-contaminating surfaces. Here is a list of reasons to hire professionals for commercial and residential disinfection services in NYC.
This service gives members instant access to LNY in house DHCR, HPD, and Property Management Counselors for immediate help when you need it.
Just like a concierge at a hotel who knows how to guide guests and to remove some of the uncertainty of trying something new, our staff counselors goal is to provide information and guidance to landlords and to take much of the uncertainty out of owning and operating a property in New York.