Assessments (or dues) provide the lifeblood for condominium associations so that they can provide necessary services to the unit owners within the association, including the maintenance of common areas such as roads, sidewalks, parking areas, utilities, and elevators. In most condominium associations, the only source
When a party buys a condominium unit in a condominium development that is still in its infancy, many issues may arise, including how control of the board of managers will be transitioned from the developer to the unit owners and how the board will be
Under Section 19 of the Illinois Condominium Property Act (765 ILCS 605/19), the board of managers for a condo association is required to keep and maintain certain records, or copies of those records, at the association’s principal office. Under that section, most of those records
Assessments (or dues) are essential for condominium and common interest community associations to provide necessary services to the unit owners within the association, including the maintenance of common areas such as roads, sidewalks, parking areas, utilities, and elevators. Typically, the only source of funds for
There are certain circumstances where the best interests of a condominium is to change from a condominium structure to a rental structure for the building or buildings. One common reason given is the market at that time favors rental units over condominiums, especially if financing
The Illinois Condominium Property Act, 765 ILCS 605/1 et seq. outlines the process for a condominium association to record a lien on a condominium unit when a unit owner is not paying its share of common expenses or fines. More specifically, 765 ILCS 605/9(g) of
