Governing documents are an outline of the responsibilities of the association, and also the responsibilities of the unit owner. You would refer to the governing documents when you need to determine who is responsible for fixing the unit. Anything regarding the operation of the association will be found in the governing documents.
What are “Limited Common Elements”?
Limited common elements are portions of the association property that are the responsibility of the unit owner. You may have a unit that has a balcony. Even though that balcony is technically outside of your unit, just because it’s a balcony that’s for your personal use you are responsible for maintaining that particular balcony. Fixture, … Continue reading “What are “Limited Common Elements”?”
What are “Common Elements” in a Condo?
Common elements are parts of the property that the association is responsible for maintaining and repairing. That could be the common areas, the walkway leading to your unit, it could be a railing that’s outside of your unit, it could be the sidewalk outside. It could be anything that is commonly used by all the … Continue reading “What are “Common Elements” in a Condo?”
Who is Responsible if a Pipe Bursts in My Condo?
In a condominium, there are the governing documents and the governing documents generally say that if you have a common element pipe behind the wall of your unit, that services multiple units, and that pipe has an issue that ultimately floods or causes water to get into your unit your association is responsible for that. … Continue reading “Who is Responsible if a Pipe Bursts in My Condo?”
My Condo Roof is Leaking. Who is Responsible?
If you live in a condo and your roof is leaking it is very likely that your association is responsible for the damages as a result of the roof leaking. Generally speaking, in condominiums, the association is responsible for maintaining and repairing the roof. If they don’t do that, it is essentially negligence on the … Continue reading “My Condo Roof is Leaking. Who is Responsible?”
Should I Worry About My Insurance Limitations?
Often with renter’s insurance, you can get a policy at a pretty reasonable price for the year, could be a hundred and something dollars, not a crazy number. The thing you have to be careful about is what the coverages are. For instance, if renter’s insurance provides only $10,000 worth of coverage for your personal … Continue reading “Should I Worry About My Insurance Limitations?”
I Rent My Apartment. Do I Need My Own Insurance?
If you rent your own apartment, it’s highly recommended that you have property insurance as well as liability insurance. The property insurance is for your personal property within the apartment that you’re renting, your clothes, your furniture, anything of value. Liability insurance protects you if you’re a renter and you have a visitor come over. … Continue reading “I Rent My Apartment. Do I Need My Own Insurance?”
The Difference Between Liability & Property Damage Insurance
Liability insurance is insurance for policy holders when someone else, a third party, is making a claim against you for property damage or bodily injury, that’s where liability insurance comes in. Property damage insurance is strictly for what they call fortuitous or sudden and accidental damages that happen to your property. If you have hurricane … Continue reading “The Difference Between Liability & Property Damage Insurance”
I Rent My Office. Do I Need My Own Property Insurance?
Yes, you need your own property insurance. The building or the office space being rented most likely does not ensure the business or personal property within the office space. You need to have separate insurance to ensure items like your desk or the computers or any other equipment are insured. You need to have insurance … Continue reading “I Rent My Office. Do I Need My Own Property Insurance?”