Page 3 - Chicagoland Cooperator Winter 2020

CHICAGOCOOPERATOR.COM THE CHICAGOLAND COOPERATOR — WINTER 2020 3 Luxer Room No initial cost Low monthly service fee Video surveillance & access logs for accountability Accessible 24/7 > > > > Luxer Lockers Scan for More Info Scan for More Info 100% Package acceptance > > Efficient use of small space Scalable for high volume occasions 99.9% uptime guaranteed > > > Indoor and outdoor units Luxer frees your staff from dealing with packages Luxer popular controlled access package room solution Serving the Chicago Area Over 30 years ISS Chicago Sound & Communications inc. 773-528-4070 We Control Doors TABLE OF CONTENTS Yale Robbins Publisher Henry Robbins Executive Vice President Joanna DiPaola Associate Publisher Hannah Fons Senior Editor Darcey Gerstein Associate Editor Pat Gale Associate Editor Shirly Korchak Art Director Anne Anastasi Production Manager Alan J. Sidransky Staff Writer Peter Chase Director of Sales The Chicagoland Cooperator is published quarterly by Yale Robbins Publications, LLC, 205 Lexington Ave., New York, NY 10016, (212) 683-5700. President: Yale Robbins, Executive Vice President: Henry Robbins. Subscriptions are available free by request to co-op and condo board members and homeowner associations. POSTMASTER: Send address changes to The Chicagoland Cooperator, 205 Lexington Ave., New York, NY 10016. ©Yale Robbins Publications, LLC 2020. All rights reserved. Application to mail Periodicals postage rates is pending at New York NY. FREE Subscriptions for Board Members, Property Managers and Real Estate Decision Makers. To Subscribe, please visit us at: Chicagocooperator.com/subscribe Management in Crisis ......... 1 The day-to-day life of a property manager—while not quite as predictable as that of, say, an accountant—does revolve around certain cyclical tasks, like building inspections, staff meetings, and keeping boards informed of what is going on with various projects in their buildings. That’s not to say that there isn’t an occasional emergency, of course; a boiler fails, a visitor slips and falls, a vendor doesn’t deliver. a small sample. Suburban and 55+ or ‘active adult’ communities often go even fur- And while any good manager takes these challenges in stride, there’s little that could have prepared managers for what they would face with the arrival of COVID- 19. Self-Management in Stressful Times ...... . 1 While many condominium associations and co-op corporations hire professional property managers or management firms to handle the routine (and not-so-rou- tine) tasks involved in running a multifamily building or HOA, a significant number take the opposite route, eschewing formal management and running their proper- ties themselves. While most of these self-managed communities tend to be on the smaller side, self-management can be successful at any size, from a handful of units to hundreds. Social Programming vs. Social Distancing.... 1 For many buyers, a key factor in deciding to purchase a home in a residential com- munity rather than opt for private, single-family ownership is often the appeal of amenities that come with condo, co-op, and HOA living—pools, gyms, clubhouses for social activities, and even on-premises restaurants and retail shops being only ther, with full-time social activity directors on staff to organize planned outings, creative workshops, lecture series, and more. In many communities, there’s never a dull moment. Pulse..................... 4 Q&A..................... 5