Anyone who has ever circled the corners looking for a parking spot in Chicago, especially in the brutal winters, understands the importance of having a regular parking spot. In a city as crowded and fast-paced as Chicago, parking is a …
Not everybody on a co-op or condo's board is an accountant (or can even balance their own checkbook, for that matter.) Handling the money for an entire association is a big responsibility however, and residents rely upon their board to…
Chicagoans pride themselves on the ability to withstand bitter winters but sometimes Mother Nature just does get the better of us. For proof, just look at the pictures from this past January of abandoned cars along Lake Shore Drive and…
In the language of retail, it’s called shrinkage—the percentage of loss experienced by a business due to theft. Co-ops and condos may not use the same term for it, and they don't have displays of handbags or jewelry to safeguard, but th…
The dreaded phrase “maintenance increase” are two words that most condo and co-op owners don't want to hear, but sometimes it is necessary for a building’s board to make the unpopular decision of raising fees. With rising operating costs…
Perhaps one of the most difficult aspects of the recent recession was the sudden evaporation of credit from major banks and lending institutions. The logic behind it was understandable: too much easy credit had led, in part, to the col…
Q We have an owner in our condominium association, who is several months behind in his fees. He currently has a tenant in his unit. The association pays the bill for his water, sewage, pool and other amenities. Do we as an association h…
Q Does the individual condo association board members and president have the legal right to remove a treasurer from duties without due cause and deny a chance for rebuttal?" —Procedural Proponent A “Almost every byla…
Q As property manager for a 36-unit condominium, we have received complaints about smoke emanating from a downstairs unit to an upstairs unit and common area hallway. There has been an ongoing feud for several years now between the ups…
The ongoing recession has changed the financial picture drastically for many residents, and their buildings are feeling the effects of late and missing assessment payments, owners unable to pay special assessments, and even owners who …