Greater Cleveland has many older apartment buildings however many of them still have fuses. Fuses were the norm prior to circuit breakers being installed in new construction to help wires from overheating and causing electrical fires. Fuses still work well when properly sized, however, in very old fuse boxes or overtime, the wrong amperage fuse […]
Don’t let uninsured tenants burst your bubble
Don’t get into Hot water this winter with a busted boiler
Understand some of the major conditions that can affect the operation of your heating boiler this winter. From Lakewood to Cleveland Heights, Greater Cleveland has some beautiful older apartment buildings. Most of these apartments are heated with cast iron boilers either using steam or hot water to operate the systems. Hartford Steam Boiler, one of […]
Owners of Apartments in Greater Cleveland Beware!
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 and boilers are some of the sources that can produce […]
Bed Bugs: Another Liability Exposure?
Take the Money and Run
No, not the 1976 song by the Steve Miller Band but the money after a loss on your apartment building. A couple of weeks ago, one of my customers referred his brother-in-law to me for a quote. The brother-in-law was purchasing his first income property, a single-family dwelling in a Cleveland suburb. I gathered the […]
Getting your Apartment Ready for Another Cleveland Winter
Preparing for winter can save you from a large property loss. 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 […]
Moving on Up!
Recently, I wrote about a prospect in Rocky River who was purchasing her first apartment building. The prospect owns several single-family rental units and the discussion revolved around properly insuring the garage. It was confirmed that the garages must be listed on the declarations page when insuring apartment buildings on a commercial form. This difference […]
Don’t Get Stuck Buying a Money Pit Sight Unseen
When is a bargain not a bargain? The real estate market is heating up across the country, but prices for multi-family dwellings in Northeast Ohio remain lower than the national average. With unemployment higher than the national average, many would-be homebuyers have had to remain renters longer than expected. The convergence of these two trends […]
Don’t Let your Garage Turn into Garbage
I had the opportunity to sit down with a prospect who was getting ready to purchase his first apartment building, a nice six-unit building in Rocky River, OH. The prospect has owned several duplexes and single-family homes, but this was a big dive compared to those. The prospect insured his other rentals with another agent […]