Should You Discount Assessments for Board Members? In community associations, a frequently debated topic is whether board members should receive discounted assessments as compensation or recognition for their service. This issue is particularly relevant in Illinois, where community associations must navigate both legal frameworks and ethical
Unlocking Success: Using Legal Representation Over Collection Agencies for Delinquent Condominium Assessments Community associations play a crucial role in maintaining the integrity and functionality of shared living spaces. However, when faced with delinquent condominium assessments, these associations often encounter significant challenges in recovering the owed amounts.
Guidelines for Preparing Your Association Budget Preparing an annual budget is essential for the financial stability of community associations. However, not all associations know how to effectively create an association budget. To help you with this task, here are some guidelines that will make preparing your budget
Illinois Court Rules HOA Cannot Collect Assessments that were Improperly Levied One of the responsibilities of a board of directors or a board of managers in any homeowner’s association is to set the amount of regular assessments for the members. This is typically done by way
Unexpected things happen in our daily lives, and sometimes those things happen in our home. It is great, if possible, to save monies for a “rainy day” so that one major issue, or a series of issues, does not drain your resources. The same analysis
As Illinois’ First District Appellate Court recently stated, “[c]ondominiums are creatures of statute and, thus, any action taken on behalf of the condominium must be authorized by statute.” Glazer v. Priv. Residences at Ontario Place Condo. Ass'n2022 IL App (1st) 210156, ¶ 22. Along those
