3 Insurance Facts Most Illinois Condo and HOA Boards Get Wrong
Posted on Tuesday July 17, 2018
If you’re on the board of your condominium or homeowners association (HOA), you undoubtedly take your fiduciary duty quite seriously. Part of your responsibility to protect the association’s interests includes finding the best insurance coverage at an affordable price. This may be easier said than done. Association insurance can be complex, and most board members are confused about the types of coverage they need and how each one works.
Communicating Your Association Budget
Posted on Thursday May 31, 2018
Budgeting is the time for making tough decisions for how your association spends its money, and sometimes those decisions can, unfortunately, lead to contention. Clear communication about the association budget should be provided to all homeowners throughout the year to help solve problems before they begin and smoothly pave the way for needed changes.
Planning Your High-Rise Maintenance and Capital Improvements
Posted on Monday May 21, 2018
Your association should never have to rely on a special assessment for a capital expense that could have been foreseen – or even prevented. Here are five tips to keep your Chicago high-rise condominium association's budget in the black and keep up with maintenance and capital improvements.
3 Ways Your HOA or Condo Association Can Fund Capital Improvements
Posted on Tuesday May 15, 2018
Sooner or later, every homeowners association (HOA) or condominium association has to invest in capital improvements. Whether that means installing a new heating and cooling system in your high-rise building, replacing the roof on your clubhouse or upgrading the equipment in your fitness center, you can’t overlook these long-term, big-ticket items. But what’s the best way for your association to pay for them?
Managing Your Community’s Maintenance and Capital Improvement Projects
Posted on Friday April 27, 2018
Keeping your property maintained and making needed improvements are important aspects of your community’s financial health. To manage these crucial responsibilities effectively, you need to stay on top of day-to-day projects, as well as create and adhere to a long-range plan. What does it take to make those goals a reality?
Five Steps to Running More Effective HOA Board Meetings
Posted on Wednesday April 11, 2018
One of the most challenging aspects of being on the board of your homeowners association (HOA) can be running board meetings. It’s not always easy to keep everyone tuned into the business at hand. In addition, you have to manage the inevitable disagreements among board members. How do you keep these meetings running smoothly?
The Six Secrets to Building Your HOA’s Volunteer Pool
Posted on Thursday February 15, 2018
Whether you’re on the board of a single-family homeowners association (HOA) or a high-rise condo association, your community depends on volunteers to operate successfully. However, finding residents who are willing to be on your board of directors, join a committee or help at an event can be challenging.
Does Your Association Have A Plan For Fostering A Sense Of Community?
Posted on Thursday January 18, 2018
Humans are social creatures with a deep-seated yearning for connection and community. This is particularly evident in a condo association or HOA, where a strong sense of community can be the difference between long-standing residency and high turnover.
Demystifying Maintenance and Repair Roles for Residents in Your Condo Association
Posted on Friday December 15, 2017
How well do homeowners in your condo association understand maintenance responsibilities?
You might think that responsibilities for maintenance, repairs and replacements would be straightforward enough – what’s inside the condo unit is the homeowner’s, and what’s outside is the association’s.You might think that responsibilities for maintenance, repairs and replacements would be straightforward enough – what’s inside the condo unit is the homeowner’s, and what’s outside is the association’s.