There’s an old joke about business partners on the outs. The punchline is something like, “my lawyer is bigger than your lawyer!” Punchlines aside, though, who can you sue, when, and for what? In our litigious society, the short answer is n…
Back in 2021, Congress passed the Corporate Transparency Act (CTA), a federal law requiring most corporations, LLCs, and other such entities to register with the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN). The …
This publication spends a lot of time exploring and explaining the duties and purpose of multifamily boards—the benefits and drawbacks of serving on them, and even the difficulty that many buildings and communities have with motivating owne…
A community’s governing documents, including its bylaws and house rules, are like a country’s constitution and laws. They are–or at least they should be–‘living’ documents that, like our state and national laws and constitution, occasionall…
Each multifamily building or association establishes a set of rules and regulations that residents and their guests must follow to uphold a safe and harmonious community. Often these address pet, noise and odor regulations, trash disposal, …
As members of co-op corporations and condominium associations, we often hear the term fiduciary duty bandied about. But what does it really mean to be a fiduciary? Stated simply, the term ‘fiduciary’ means trust. When a person managing the …
CooperatorEvents is thrilled to be back at Navy Pier in Chicago on Thursday, October 17 from 10 a.m. to 4:30 p.m. for this fall’s Chicagoland Expo, and we think you will be too. If you’ve joined us for previous shows, you know there’s just …
Q. I am a resident owner in a 54-unit condominium association building on the far northwest side of Chicago. I write on behalf of a unit owner friend in the same building, who has been the resident owner since 2005. Her unit is on the sec…
Home ownership has long been a key component of the American Dream– especially after years of renting. But when the faucet leaks in your condo or co-op unit, there’s no more calling the landlord; you’ve got to fix it yourself. In shared int…
Over the past few years, operating expenses for everything from fuel to labor to the cost of cleaning supplies have been steadily rising —and disrupting co-op and condo association budgets—all over the country. The premiums for properly ins…