Q&A with Jean: What Is an Alteration Agreement?

Contracts aren’t set in stone. Sometimes, they need a little adjustment. An alteration agreement is a legal document that formalizes these changes. But what does it really entail? How does it affect your rights and obligations? Let’s find out with Jean.

At Sweeten, we’re experts in connecting homeowners with top-tier general contractors. We meticulously screen contractors, handpick the best for your project, and collaborate closely with hundreds of them daily.

Sweeten’s Founder + CEO Answers Your Renovation Questions

Welcome to #9 in our series, designed to bring clarity to some of the mysteries of renovating! Whether you’re a first-time homeowner or a serial renovator, each project brings with it a new set of circumstances and new questions, and Sweeten is here to be a source of knowledge and reassurance. 

What is an alteration agreement?

JEAN: If you live in a co-op or condo building in New York City, you’ll have an alteration agreement. In the document, your board lays out all of the rules and guidelines for renovating in your building to ensure there is minimum disruption to your neighbors while a renovation is in progress. This can include rules on the allowable work hours (to limit noise) and when the freight elevator will be open for deliveries or materials. When you’re buying, or if you’re thinking about renovating in a co-op or condo, you should read your alteration agreement immediately before talking to a general contractor; you’ll need to share those guidelines right from the start.

Another important piece of information usually found in the agreement is how much insurance your building requires. This amount is usually from $1 million to $3 million, which you’ll want to relay to any contractors you’re speaking with in order to make sure that they have that coverage in place before they even step foot inside your home. If you post your project on Sweeten and include this amount in your profile, Sweeten will make sure to only match you to contractors who can cover the requirement.

If you have more questions on the topic, check out our blog post Renovating? Here’s How to Navigate a Co-op Board.

—

Looking for more advice from Jean? Be sure to check out the eighth installment in this series, Q&A with Jean: When should I start planning for my renovation?

We can help plan your renovation

Find endless home renovation inspiration, detailed guides, and practical cost breakdowns from our blogs. You can also post your project on Sweeten today and get matched with our vetted general contractors and get estimates for free!