I noticed this round thing in the tree across from my deck when the wind picked up as a storm approached and the branches were blowing around.

{{!gwi}}

I live in an old country house and have been on the look out for wasps or hornets that may indicate a nest in the attic or roofing above my deck (the house is divided into 3 apartments). It doesn't look like a bald hornet nest but it doesn't look like a birds nest, its too egg shaped. Its nearing the end of July and from what I've read wasps/hornets start to forage in the late summer. I'm concerned with its proximity to my deck and for the cat and dog of the other tenants living here.

The tree is approximately 10 to 20 feet from my deck but I'm concerned if it should fall or something agitate the nest that they might go on the offensive. The tree is probably 20-30 feet from a three story apartment building and I know people use their balconies to enjoy the summer.

Can anyone identify this nest as an insect nest? Its not really smooth, has wispy strands on the bottom. It doesn't look secure enough to be a birds nest and it definitely isn't the right shape. I can't see any bugs around it but its very high up in the tree. Should I be concerned about it? My apartment isn't very bug proof, its an old house so lots of things get in and I've seen hornets or wasps in the attic window but usually just a couple or so. Usually if you leave them alone they'll leave you alone.

I've never had to deal with this situation before and the landlord may not be receptive to spending money since he bought the land and the house was a bonus, he doesn't charge much, just to maintain the house which will probably be torn down one day. Any advice would be greatly appreciated!