In today’s economy, co-ops and condos are looking for ways to cut costs wherever they can, and many are turning to examining their legal bills. But the problem therein is two-fold: firstly, you don’t want to compromise your relationship wi…
Having a fantastic party room, gazebo, or other common space is a great amenity for a condo or HOA—not only does it give residents a place to gather for celebrations, meetings and other community events, it adds real value to the property.…
A lot of us feel like everyday life keeps getting more and more complicated, and finances are no exception. In Illinois, there are strict limitations to what boards can do with their association’s funds, but that doesn’t mean there aren’t …
One of the biggest problems that can cause the downfall of any condo or co-op is a lack of funds, or more specifically, not enough money to keep operations running smoothly and to make the necessary repairs to keep everything up to par. …
As the 2012 federal legislative fiasco over the debt ceiling—as well as any number of other spending bills proposed since then—demonstrated, balancing a budget can be like pulling teeth. Balancing a condo or HOA community's budget can some…
Preparing the annual budget is by no means an easy task. Those charged with preparing condominium or HOA budgets will soon begin reviewing costs, gathering data and projecting expenses for the coming year. Communities, businesses, individu…
While natural disasters causing catastrophic property damages are increasing every year, associations also have to be prepared for other unexpected expenses, such as a roof replacement or a new heating and cooling system. These major capit…
The Chicagoland Cooperator's Condo, HOA & Co-op Expo second expo last fall was by all accounts a huge success as the event attracted thousands of attendees from all across the region for a full day of education and networking. …
If you want to find out about the history of a town, region or country, head to a museum or look it up on the Internet. If you want to find out about your family’s history, look at your photo album, whether it’s in a book or online. And…
The foundation of any properly run condo association or co-op building rests on residents paying their monthly maintenance fees on time and in full, with no delays or delinquencies. However, thanks to the lingering effects of the reces…