Lawsuits against condominium, homeowner (HOA), and townhome community associations can be complex, costly, and time-consuming. For volunteer board members, receiving legal notices can also be an intimidating and stressful experience.

These legal challenges might involve:

Property disputes
Personal injury claims
Claims for breach of fiduciary duty
Breaches of contract often initiated by homeowners, contractors, or third parties

Navigating these situations requires … Read More ›

The 2025 security deposit interest rate has been set by the Illinois Department of Financial and Professional Regulation (IDPFR).

As noted on the Illinois Department of Financial and Professional Regulation website:

The Illinois Department of Financial and Professional Regulation, Division of Banking announced today that the interest rate paid by the largest commercial bank … Read More ›

On December 3, 2024, the U.S. District Court for the Eastern District of Texas issued a nationwide preliminary injunction against enforcing the Corporate Transparency Act (CTA). The injunction temporarily halted community association board members across the U.S. from filing the required beneficial ownership information (BOI) reporting. On December 6, 2024, the government filed a notice … Read More ›

Each year the City of Chicago Comptroller is required to review and set the rate of interest to be paid on security deposits for residential lease agreements.

As recently announced on the City of Chicago website, the rental agreement security deposit interest rate is set at 0.01% from January 1, 2025 through December 31, 2025.

Here is … Read More ›