Investment Property Insurance
5 Snow Removal Contract Requirements
Winter weather is coming and now is the time to start thinking about who you might hire as your snow removal contractor for your apartment complex. It’s no secret winter weather creates more opportunity for liability claims, especially slips and falls. If you own or manage an apartment building, contracting with a reputable snow removal…
Read MoreThe Inspector is Coming! The Inspector is Coming!
I received a frantic call last Friday from a longtime client that the insurance inspector was coming. No, he did not tell me one if by land and two if by the sea like in Longfellow’s poem but he was concerned, to say the least. The Insured owns about 100 apartment units in 5 buildings…
Read MoreGetting your Apartment Building ready for another Cleveland Winter
Winter and freezing temperatures are forecast to roar back into Northeast Ohio in the next 24 hours or so, but there is still time to get out and complete a few simple tasks to help protect your property. You may also discover additional items that need improvements for next year and beyond. We all know…
Read MoreKeeping your Apartment Building Occupied
Keeping your apartment building occupied is paramount to profitability, but don’t be negligent in your application and screening process. The Department of Housing and Urban Development (HUD) has created regulations that define classes of people who can’t be discriminated against in the rental process. (read more) As a landlord, you may not discriminate in renting…
Read MoreIs Investment Property For You?
Investment property can serve as an income source and asset builder. Your resources, experience, goals, and tolerance for risk are deciding factors in the type and scale of investment you might make. Financial commitment is a given. Whatever money you put in to the investment is at risk. Be aware you can lose it all…
Read MoreRoof Maintenance 101
Repairing or replacing your roof can be expensive. Spending a few minutes every six months looking closely at your roof can help you identify roof maintenance opportunities that will help prevent costly repairs later. It is also important to periodically check your homeowners insurance to make sure that serious roof damage is covered by your…
Read MoreDrip, Drip, Drip…There Go Your Profits
One drip of water per second wastes 1,661 gallons of water per year according to the Department of Energy. Building owners need to develop strategies to keep consumption and heating costs down. While parts of Northeast Ohio are seeing rents increase, others are seeing decreases. What can a building owner or manager do to improve…
Read MoreThe Basics of Insurable Interest
Gino is buying a 14-unit apartment building that is structurally solid, but needs both maintenance and repair work. Three days ago Gino and Toby entered into a purchase contract in the amount of $300,000. Along with signing the purchase contract, Gino also put a $20,000. deposit down on the apartment building. Toby, the current owner…
Read MoreOwners of Apartments in Greater Cleveland beware!
New Code requires Carbon Monoxide Detectors in certain Ohio buildings Be aware of what? A huge liability exposure for you as the owner of residential rental properties and apartments in Greater Cleveland. Be aware of carbon monoxide – the odorless, colorless gas that is produced any time fossil fuel is burned. Gas ranges, ovens, furnaces…
Read MoreParking Lot Safety and Inspection
How often do you get to your office go through the rear entrance and not even notice the condition of the parking lot your customers and guests see or not notice gradual deterioration of an item? Having a simple checklist can help. How often do you get to your office go through the rear entrance…
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