One of the biggest problems that can cause the downfall of any condo or co-op is a lack of funds, or more specifically, not enough money to keep operations running smoothly and to make the necessary repairs to keep everything up to par. …
As the 2012 federal legislative fiasco over the debt ceiling—as well as any number of other spending bills proposed since then—demonstrated, balancing a budget can be like pulling teeth. Balancing a condo or HOA community's budget can some…
Preparing the annual budget is by no means an easy task. Those charged with preparing condominium or HOA budgets will soon begin reviewing costs, gathering data and projecting expenses for the coming year. Communities, businesses, individu…
While natural disasters causing catastrophic property damages are increasing every year, associations also have to be prepared for other unexpected expenses, such as a roof replacement or a new heating and cooling system. These major capit…
The Chicagoland Cooperator's Condo, HOA & Co-op Expo second expo last fall was by all accounts a huge success as the event attracted thousands of attendees from all across the region for a full day of education and networking. …
If you want to find out about the history of a town, region or country, head to a museum or look it up on the Internet. If you want to find out about your family’s history, look at your photo album, whether it’s in a book or online. And…
The foundation of any properly run condo association or co-op building rests on residents paying their monthly maintenance fees on time and in full, with no delays or delinquencies. However, thanks to the lingering effects of the reces…
The vast majority of both one-time projects and long-term service contracts involving vendors and service providers and their condominium or HOA clients go smoothly and either conclude or continue without incident. However, a small per…
Q In December 2008, the National Bureau of Economic Research announced that the United States was in a recession that had started back in December 2007. The official announcement was old news for most Americans. Most financially-savvy …
In your own household, you have money coming in and money going out. You have things you want to save up for—say, a new cool high-def, flat screen television or the latest iPad. Yet you owe your car company and your creditors. To keep i…