Connected Management Blog

Condo Association Insurance 101 - Knowledge for Board Members This article provides an overview of the types of insurance that an Association should and must maintain. The Board of Directors is responsible for ensuring that the legal and reasonable levels of insurance coverages are in place at all times to protect the members of the Association. This is a great responsibility and should not be taken lightly. A Warning of Importance As I instruct my staff on a regular basis, in the governance of an Association there is nothing that carries a higher risk of legal liability than matters of insurance....

Condo foreclosures, delinquencies and the new 9 months rule (Illinois Senate Bill 2664, ISBA FORECLOSURE BILL) If you are a member of a condo board then you will eventually be forced to deal with owners that are delinquent in their payment of their monthly assessments. Unfortunately, severe assessment delinquency is often coupled with an impending foreclosure. After all, if a unit owner is not making their monthly assessment payment to the association, it's a good bet that the owner is struggling to pay their mortgage. If a foreclosure occurs within your association you have a financial interest in handling the situation...

Illinois House Bill proposes mandatory payment plans for delinquent owners HB 4154 (Rep. Madigan and Rep. Kifowit) ALTERNATIVE PAYMENT OF DELINQUENT ASSESSMENTS. Overview of the bill This bill proposes the creation a new Sec. 1-47 of the Common Interest Community Association Act which would mandate that common interest communities of more than 14 units adopt “reasonable guidelines” for delinquent owners to pay regular and special assessments. The bill would require the association to adopt and record in the county recorder’s office guidelines for a payment plan. The payment plan would need to be a minimum of 3 months and not extend...

Understanding Palm v. 2800 Lake Shore Drive – A practical perspective Earlier this month the Illinois Appellate Court issued an order that is causing quite a stir in condo association circles. Palm v. 2800 Lake Shore Drive is a case that relates to how boards of condo associations conduct their business. Specifically, how board members communicate and make decisions. On the surface the ruling appears to introduce an incredible level of difficulty to the process that a board must follow in order to perform their duties. Many of the updates that I have read from attorneys and other professionals in the...

Building Safety Requirements This article contains information about various building safety requirements and Chicago municipal codes. These are common building items and issues that board members should be aware of to remain in full compliance with all city requirements. In practice it is unlikely that your association would be penalized by the city for failing to adhere to some of these requirements. Nonetheless these items are important to maintaining a safe building for your owners and other occupants. You can access the complete Chicago Municipal Code online: http://www.amlegal.com/library/il/chicago.shtml I encourage you to review these items and check to see how your...