Choosing to live with the birds is totally understandable. The feeling of freedom is an experience never to be discounted. As stress from family and work may take its toll on the average individual, a constant supply of fresh air and pleasant views may help take one's mind off mounting paperwork and laundry onto his or her happy place. Pleasantries aside, each of these buildings is insured with a master policy to cover the overall structure as well as fixtures and furnishings for general use. In other words, what is visibly on the exterior as well as features to serve the residents is handled by the building management. This may include exterior painting, pool maintenance, parking bays, lighting, landscape and so on. A close scrutiny of the condo association's policy should clear things up.
Upon ascertaining what goes under their coverage, everything else thus falls under the purview of the resident. Living in such an environment obviously differs from a standard house as one is hemmed in by neighbors in all directions. What with the close proximity, a leaking water pipe can make itself very apparent on the neighbor's wall if neglected.
It is best to find out what these rates cover. Loss or damage of the unit, contents within, loss of use as well as personal liability tends to top the list. If the condo association runs into a financial pickle to repair major damage, residents may need to chip in.
Chris enjoys sharing articles on topics like condominium insurance rates and Homeowners insurance in Los Angeles.
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