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…
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…
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…
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…
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…
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 …
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…
Q At our condo in Hyde Park, the declaration and bylaws state clearly that only one representative from any one unit is allowed to serve on the board at one time. We have a peculiar situation here. Two single residents married, and …
Q At our condo in Hyde Park, the declaration and bylaws state clearly that only one representative from any one unit is allowed to serve on the board at one time. We have a peculiar situation here. Two single residents married, and …