Connected Management Blog

Helping condominium board members run a successful community.

Special Assessments - An overview for Chicago board members

Special Assessments - An overview for Chicago board members The primary source of income for a condominium association is through the normal monthly assessments paid by the unit owners. These assessments are determined and set one time per year through the adoption of an annual budget. Once the budget has been adopted by the Board, the assessment amounts for each unit are fixed for the year and are not changed. What happens if there are unplanned repairs or other situations where additional funds are needed to support the association? The primary tool at the Board's disposal is a special assessment....
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Condo Association Annual Budgets - An overview

Condominium Association Annual budgets Your annual budget calculates the total amount of assessment payments required to support the association’s expenses and savings. Since adopting a new budget typically means an increase to the monthly assessment requirements of your owners, the change can often be met with resistance. It is therefore important to make sure that your board follows all requirements of your association bylaws and the Illinois Condo Act. Some bylaws place a restriction on the total increase to assessments that can be called for by a budget without requiring a majority approval of the unit owners. These restrictions, however,...
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Chicago Bed Bug Ordinance

Chicago bed bug ordinance (2014) For reference purposes the ordinance is attached to this post. Part of the new ordinance is the requirement for all condo associations to prepare and adopt a "pest management plan for the detection, inspection and treatment of bed bugs in the building". The city is required to post a sample plan to their website so that board members can have an idea what this type of plan should look like. The city has yet to post this sample plan so it is not yet possible to adhere to the ordinance.  After all, how would a...
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Association records: what must be maintained and made available

Section 19 of the Illinois Condominium Act discusses the type of records that the Board must maintain and rules related to what records must be provided to a unit owner upon request. This is a recap of the section of the Act to help clarify what is required. Documents that must be kept by the Board The following must be maintained by the Board or management company: 1) The association's declaration, bylaws, and plats of survey, and all amendments of these. 2) The rules and regulations of the association, if any. 3) If the association is incorporated as a corporation,...
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Copy of the Illinois Condominium Property Act

ILLINOIS CONDOMINIUM PROPERTY ACT Updated through January 1, 2014 This content was taken from the Illinois General Assembly website and may not be the most current version. Title: An Act concerning the ownership in and rights and responsibilities of parties under the condominium form of ownership of property. Section 1. Short title. This Act shall be known and may be cited as the "Condominium Property Act." Section 2. Definitions. As used in this Act, unless the context otherwise requires: (a) "Declaration" means the instrument by which the property is submitted to the provisions of this Act, as hereinafter provided, and...
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