In the tough environment that has characterized both the national and world economy over the past few years, many condo owners have faced job loss, reduced salaries, or just financial uncertainty. While the situation has made things ex…
Stores and other commercial businesses on the ground floor of a condo building used to be a rarity but now they are becoming a hot new amenity, even a standard for newer buildings. Restaurants, food markets, drugstores, clothing stores…
For a crystal-clear picture of how an association is doing, there are few better lenses than the community's budgets and financial reports. From an investment perspective, they show the shareholders, managers, tenants, owners, and board…
Money is a topic people are often skittish about discussing—especially when the discussion involves rising fees, or having to pay more money for something. When you’re a board member or the property manager of a condo building or residen…
In these times of economic uncertainty, nothing is more important than planning for a rainy day, especially when that rainy day might involve repairs to multimillion dollar buildings. That is one of the many reasons why having an adequ…
It was time for the the Chicago-based senior association's annual meeting. The board and residents, men and women, some in their 70s, were emotionally charged and concerned about various issues that the board would discuss. The issues d…
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…