Underfunded community associations can be at risk of falling behind on much-needed repair, restoration, or replacement.
Some board members may feel that:
Unchanging and/or reduced assessments will reduce owner complaints.
Increasing assessments will scare away potential buyers and hurt resale value
It’s acceptable to constantly utilize reserve funds to maintain or reduce assessment fees.
Major maintenance concerns can be addressed … Read More ›
The popularity of Airbnb, Homeaway, and VRBO have made short-term rentals a topic of discussion among condominium, homeowner (HOA), and townhome community associations. By conveniently bringing owners and prospective guests together through websites and apps, these online services can convert a condo or home into a revenue-making rental property with very little effort.
However, short-term rentals … Read More ›
The popularity of websites such as Airbnb.com, Homeaway.com, and VRBO.com have made short-term rentals a topic of discussion among common-interest associations. By conveniently bringing unit owners and prospective tenants together, these online services can convert a condo or home into a profit center without much effort. However, short-term rentals can present a plethora of challenges … Read More ›
Decided by the Illinois Supreme Court on December 1, 2016, Murphy-Hylton v. Klein Creek Condominium et al. held that the immunity granted under the Illinois Snow and Ice Removal Act for the negligent removal of naturally accumulated snow and ice does not also provide immunity for injuries caused by ice arising due to circumstances unrelated … Read More ›