Page 4 - Chicago Cooperator Summer 2019

4 THE CHICAGOLAND COOPERATOR —SUMMER 2019 CHICAGOCOOPERATOR.COM Yale Robbins Publisher Henry Robbins Executive Vice President Joanna DiPaola Associate Publisher Hannah Fons Senior Editor David Chiu Associate Editor Pat Gale Associate Editor Shirly Korchak Art Director Anne Anastasi Production Manager Victor Marcos Traffi c Coordinator Michael Odenthal Staff Writer Alan J. Sidransky Staff Writer The Chicagoland Cooperator is published monthly 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 2017. 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 TABLE OF CONTENTS WHY ManaGErs QUit Co-op, condo and HOA communities are a property manager’s bread and butter. Ensuring that their client buildings and associations run smoothly everyday provides managers with both purpose and pay. Th erefore, it stands to reason that a dedicated manager might bend over backwards in order to satisfy his or her client – even if that client’s requests border on the outlandish. PAGE 1 LEGaL anD LEGisLatiVE UPDatE 2019 Laws, and the legal decisions that support and enforce them, are constantly evolving and can aff ect every facet of community life in HOAs, condominiums and co-ops. While law and legal cases can emanate from any of our three levels of government – federal, state or local – most of the developments that aff ect housing come from the bottom up, with local and state law oft en defi ning or redefi ning what co-op, condo, HOA, and even owners of rental housing may and may not do within the law. PAGE 1 ABsEnt OWnErs Once upon a time, you usually greeted your neighbor in the hallway of your building as you’re coming or going. But lately you haven’t seen or heard a peep from her in almost two months. You wonder if she is okay. So you ask the super one morning in the lobby about your neighbor’s whereabouts. He responds that she’s perfectly fi ne – she just went to a writers’ retreat in Portland for a year. PAGE 1 InDUstrY PULsE/CaLEnDar Q&A PAGE 5 PAGE 6 Subject to credit approval. inlandbank.com No Prepayment Penalties • Fast Loan Approvals • Expertise • Flexible Terms and Conditions If your association is in need of improvements, please contact Tim Haviland 630.908.6708 or thaviland@inlandbank.com at LOW COST CONDOMINIUM ASSOCIATION LOANS