
Have you ever felt uncomfortable when your condo board revealed there was a “special assessment” for a surprise repair? You're not the only one feeling this way. Surprise expenses from rooftop leaks, elevator malfunctions, and burst pipes can seriously interfere with your community's finances. The fact is, many of these emergencies are preventable. The real issue is the distinction between preventative maintenance and reactive maintenance. By understanding what costs you could incur and budgeting accordingly, boards throughout Illinois would be able to save money for the owners and run a building smoothly without the late-night repair bills. What Preventive vs Reactive...