My question involves a condominium located in the State of: New Jersey
I am a renter in a condominium. Last month the condo board passed a "resolution" (not a by-law) applying to all renters that states: "Renter shall obtain and have proof of payment for tenants insurance for the unit, naming the [condo association] as an additional insured on an annual basis."
Is it legal for the condo board to require this? If so, how would the condo association be covered?
My renters' insurance policy clearly outlines what it covers regarding my personal property and personal liability to guests within my unit. I selected an appropriate amount based on my lifestyle. The condo board has no property in my unit.
I rely on my renters' insurance to protect me against damages created by the condo association, its employees, and its common structures (i.e., a maintenance worker drops a hammer on my computer; a common pipe bursts and ruins my rug.).
This requirement is not in my lease (it did not exist at the time), which was submitted to the condo association for approval before I could move in.