I recently served as a panelist at the Community Association Institute’s annual trade show. The topic was reasonable reserves for Associations. When looking at the long-term existence of an Association, reserve accounts are a critical topic for consideration.

If you reside in a Condominium Association, Section 9(c)(2) of the Illinois Condominium Property Act (“Act”) requires that … Read More ›

In these recent times of financial insecurity, Community Associations need to be vigilant and pro-active in the monitoring and collection of their assessments from homeowners.  In the past year, the number of homeowners who have gone into collection for non-payment of assessments has significantly increased, while foreclosures and bankruptcies are at record levels.  Unfortunately, these … Read More ›

Your delinquent owner failed to pay assessments, so KSN secured an Order for Possession and Judgment for the past due assessments. Step one completed. You secured a renter to recoup lost assessment revenue. Step two completed. Everything moves along nicely with the solution you have implemented. Then, the renter stops paying his rent. What are … Read More ›