Insuring Amenities: Don’t Make Luxury a Liability
Like beauty, what constitutes an ‘amenity’—particularly a ‘luxury’ amenity—may well be in the eye of the beholder. Young families may want indoor and outdoor play equipment, while professionals may appreciate a well-appointed gym, and seniors might gravitate towards card rooms and social halls. All of those and more are examples of what may be considered an amenity, and whether built-in from the beginning or retrofitted later to meet resident demand, they add value—both real and perceived—to the properties that have them. Read the article………….
As president of New York’s largest horizontal co-op, Glen Oaks Village, and a co-op leader on such issues, I offer
Question: I am a tenant in a community with a homeowners’ association. The association’s recorded documents say that each home