Page 9 - Chicago Cooperator Winter 2019

CHICAGOCOOPERATOR.COM
THE CHICAGOLAND COOPERATOR —
WINTER 2019
9
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Woofter continues, explaining that, financing for real estate purchases.
“Boston still has a housing shortage overall.
In 2020, we are nearing an all-time popula-
tion high. The real challenge is affordable real estate and financial markets are cau-
housing. Middle-market units are the only tiously trying to find their way through a
place where we don’t see inventory increas-
ing. I expect 2020 will continue at the cur-
rent pace.”
Politics
Non-market considerations are also af-
fecting the housing market. The main con-
cern among investors revolves around what says it’s too early to tell long term, but that
moves the Fed will make, and what will ul-
timately happen with the China trade war. already under way, and the ability of inves-
There is, overall, too much uncertainty. tors to react and adjust.
The bond market is already collectively
terrified, and while discussing bonds may
be the cure for insomnia, the reaction of
those markets to political influences has
repercussions on the markets that provide
The year 2019 will likely be remembered
as one of tentative change. Investors in both
myriad of factors, including the change to
our basic tax laws. The early winners ap-
pear to be low-tax areas with room for
growth. The losers appear to be high-tax
areas that have benefitted from growth and
investment during the past cycle. Miller
2020 will be a year that reflects the changes
n
Cooper Smith is a writer/reporter for The
Chicagoland Cooperator.
are the most accepted certification in the in-
dustry.”
“If you use it, it needs to be swept,” adds
White. “Additionally, throughout the entire
year, between heat and snow, freezing and
thaw, a chimney’s masonry can become
damaged. It can deteriorate over time. An-
nual inspections are not only to make sure
the fireplace system is clean, but also to make
sure it’s in good working condition.”
Tony Fikejs is a technician with Jiminy
Chimney, located in Huntley, Illinois, and
servicing the greater Chicago area. “We rec-
ommend annual inspections,” says Fikejs,
“but depending on use and fireplace type,
more than one inspection and cleaning a
year might be warranted. It depends on the
user’s burning habits.” While all types of fire-
places, wood or gas burning, can be found
in multifamily buildings in the Chicago area,
Fikejs explains, they are more commonly
found in townhouse type developments in
Chicago’s suburbs.
Common Area, or Private Amenity?
As with any element in a multifam-
ily building that involves components that
penetrate into both private homes and com-
mon areas, it’s important for co-op or condo
owners with fireplaces to know whether the
component parts to be maintained are under
their purview, or that of the co-op or condo
association.
The answer will depend on what it says in
your proprietary lease or condo documents.
In many cases, the fireplace, flue, and other
parts of the fireplace system are the sole re-
sponsibility of the shareholder or owner. In
others— particularly in a building with mul-
tiple fireplaces in a single line of units—the
flue may be considered a common element,
but the mantle, hearth, and firebox within
the apartment itself would be the responsi-
bility of the shareholder or owner.
“When considering annual maintenance,”
says Eddie Delgardo, the sales manager of
Westchester Fireplace and BBQ, located in
Elmsford, New York, “the apartment owner
usually pays us directly. In terms of arranging
the maintenance visit, though, that depends
on the building and the overall situation. If
there’s a large number of fireplaces in the
building, the managing agent may arrange
to have all inspections done at the same time
and will schedule maintenance work simi-
larly. Otherwise, apartment owners arrange
the annual visits themselves. In both cases,
we are paid directly by the owners.”
Fikejs reports a similar picture in Chica-
goland. Who arranges for maintenance and
who pays depends on the property. He has
seen every possible combination. In some
cases, management of the complex will ar-
range for maintenance and pay for it com-
munity wide. In others, individual owners
make and pay for their own maintenance
arrangements. And yet again, there are cas-
es where management might schedule the
maintenance visits, but the unit owners pay
individually.
Both White and Delgardo say that older
fireplaces are trickier to maintain and require
a good amount of TLC. And, Delgardo adds,
residents, building staff, and others should
never attempt to do fireplace repairs or seri-
ous maintenance by themselves! It’s just too
dangerous to both the unit owner and the
building. Always use a licensed professional
chimney sweep. While there is no formal
certification or degree for chimney sweeps,
these professionals must be members of a
chimney sweep guild—in Illinois, it’s stan-
dard that the attending chimney sweep be
certified by the CSIA—and carry the nec-
essary and appropriate insurance, like any
other contractor. White suggests that fire-
place owners make use of the CSIA website.
“There are blogs that cover everything from
how to start a fire to where to find a chimney
sweep. It’s a very complete resource.” Their
web address is www.csia.org.
Speaking of Insurance...
Lovely and value-adding as they are, at
the end of the day, a fireplace is essentially an
open blaze in close proximity to any number
of flammable materials, as well as foot traf-
FIREPLACE...
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