Articles filed under Condominiums
-
How to handle residents who misuse guest parking spacesJul 01, 2012 3:47 pm - Q. We are a townhouse association in the Northwest suburbs. The association is comprised of multiple buildings in five cul-de-sacs. About a quarter of the units in these...
-
Condo Talk: Basic guide to unit owner bankruptciesJun 16, 2012 5:05 am - Last week’s column focused on unit owner foreclosures. This week, I am going to address unit owner bankruptcy. The filing of a bankruptcy petition by a unit owner can ha...
-
Associations have options to address unit foreclosuresJun 09, 2012 2:32 pm - The mortgage foreclosure crisis impacting associations is not going away anytime soon. Today’s column addresses why the association is a defendant in a unit owner’s mort...
-
Condo leasing restriction should be enacted only after careful considerationJun 02, 2012 5:30 am - So the board of your association has made the decision to seek an amendment to the declaration to restrict leasing of units. There are many components to a lease restric...
-
Condo presidents do have a voteMay 26, 2012 12:16 am - Q. The president of our homeowners association never votes on issues that come before the board, unless there is a “tie” vote. When asked about this, the president respo...
-
CondoTalk: Limits on late fee chargesMay 19, 2012 6:01 am - Q. Our condominium association imposes a $25 late charge every month that an owner’s account has an open balance. I seem to recall reading that this is not permitted. Am...
-
CondoTalk: Collection of unpaid assessmentsMay 14, 2012 6:28 am - Associations are seeing record amounts of assessment liens being extinguished when a unit is sold at a judicial sale at the conclusion of a mortgage foreclosure. That do...
-
CondoTalk: An association should invest reserve fundsMay 05, 2012 6:01 am - Q. Our association’s reserve fund is in a checking account that does not yield any interest. Can an association invest reserve funds and, if so, are there any restrictio...
-
Condo talk: Many questions arise over expenses and assessmentsApr 28, 2012 5:12 pm - Today’s column addresses the many questions I have been receiving about association budget and expenditure issues. Q. For many years, the board of our association held a...
-
Condo talk: Condo owners, don’t expand into common areasApr 14, 2012 5:01 am - Q. Our townhouse-style condominium units include a rear patio and a garden area that are limited common elements of the unit. Several owners have taken the liberty to ex...