Preventative vs preventive maintenance: What your building should know

Energy efficiency upgrades to your building’s systems can improve your benchmarking score and help fuel property values for your condo association. But paying for these upgrades takes careful budgeting. Read this primer to learn the basics about budgeting for energy efficiency projects and to find out what can impact the cost.

A new water and sewer tax that went into effect in 2017 is adding to the cost of water in Chicago. The hefty 29.5-percent tax is being phased in over a four-year period. With spring right around the corner, many communities will soon begin using more water on lawns, trees and flowers. An experienced property management company can provide the tools and resources you need to prevent higher water rates from drowning your budget. Here are seven ways condominium associations can reduce water usage and save money.

When you live in the Chicago area, spring can seem to take forever to get here. Energy costs to keep buildings and common areas warm and well lit can be a big hit on your budget when the temperatures plummet and the days are shorter.

Fortunately, doing a few simple things can reduce your energy costs. Here are some steps that you can take to help your condo save money on energy.
 

Winter is here, and in Chicagoland and the rest of the state, the cold can present a range of issues. You’ve probably been keeping a watchful eye on driveways, roofs and other essential areas in your condo community. But don’t forget about one of the most freeze-sensitive parts of your buildings and systems: pipes.

Illinois legislators, as well as the city of Chicago, have been busy making some important legal changes that have a direct impact on condominium and homeowners associations (HOAs). We discussed some of them in depth in previous articles. In this article, we provide a summary of the new laws with which your HOA board and residents should be familiar.

Serving on a homeowners or condominium association’s board of directors is not an easy task. You are making decisions that impact your community and neighbors. So what makes one board more effective than another? The Cooperator Chicagoland recently interviewed FirstService Residential Illinois President Asa Sherwood to find out the secret behind some of the Chicago area’s most successful associations.

What does it take to be successful in the residential property management industry? Top Agent Magazine recently interviewed FirstService Residential’s Daniel Valdes to discover what has helped him become a leader in the industry.

Good news for board members of homeowners associations: Legislation effective January 1, 2017, makes it easier for association boards to hold closed (executive) sessions. What’s especially significant about the law is that it mitigates particular aspects of the First Appellate Court decision in Palm v. 2800 Lake Shore Drive that had left many board members frustrated.

One of the benefits of working with a property management company is being able to offload many tasks that you and the other board members would otherwise have to handle. However, that doesn’t mean that you are relieved of all responsibilities. There will always be some duties that lie entirely in the hands of board members. Read more for tips on how to successfully effectively delegate to your property management company.

As the luxury residential market in Chicago grows ever more competitive, developers must take advantage of the wealth of knowledge professional property management teams can lend to their projects.