Illinois House Bill 0220 (HB0220) is a legislative proposal that amends both the Common Interest Community Association Act and the Condominium Property Act. The bill specifically requires that:
Any Illinois condominium, homeowner (HOA), or townhome community association
With major shared components or significant infrastructure
Which has had a reserve study conducted on or after January 1, 2020
Must have … Read More ›
KSN is proud to introduce Brainy Board – a streaming service and educational resource for new and experienced board members throughout the country.
Brainy Board provides on-demand access to videos addressing condominium, homeowner (HOA), and townhome community association concerns and legal issues.
To create your free Brainy Board account today and start watching our library of on-demand videos, … Read More ›
“Budgets and Reserves” – KSN attorneys Kelly Elmore and David Savitt discuss budgets and reserves for condominium, homeowner (HOA), and townhome community associations. Topics include inflation challenges, expenses, capital improvements, special assessments, reserve studies, best practices, and more. (53 mins.)
The KSN Podcast examines various aspects of association law, landlord/tenant issues, property tax appeals, and more.
In … Read More ›
The Federal National Mortgage Association (FNMA, otherwise known as Fannie Mae) and the Federal Home Loan Mortgage Corporation (FHLMC, commonly known as Freddie Mac) have both created new sets of requirements impacting condominium associations in recent years.
These new guidelines were primarily in response to the partial collapse of a Surfside, Florida condominium building in 2021. … Read More ›