When a Condominium Association Creates a Cash Flow Plan, What Amount of Time Must the Projection Be Based On?
When creating a cash flow plan for your Chicago condo association, the amount of time the projection should be based …
financial management
How is a Condo Association’s Budget Determined and Managed?
Condo unit owners buy property within a condo association for the shared benefits of living in the community. They pay …
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Is a Condo Association\’s Budget Approved by the Members in Illinois?
Adopting a new budget for your Chicago condo association is a process that happens annually and requires the support of …
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How to Present Your Condo Association\’s Budget to Your Members in Illinois
Once your condo board has prepared your annual budget, it’s time to present that budget to your members. Being fully transparent …
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How is a Condo Association\’s Budget Prepared in Illinois?
Condo association budgets are prepared by the condo board. It’s one of the board’s biggest responsibilities, and often a task …
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How Are Any Surplus Funds Handled in an Illinois Condo Association?
Planning the annual budget for your Illinois condo association is always a bit of a guessing game. Even with good …
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How are the Long-term Financial Needs of the Condo Association Taken into Consideration When Determining Assessments?
Planning annual budgets is one of the biggest responsibilities of any Illinois condo board. Not only must board members account …
What to Know About Assessment Collection and Allocation Transparency
Condo association board members have a fiduciary responsibility to make financial decisions that are in the best interest of the …
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How to Ensure Transparency with Assessment Collection and Allocation
Unit owners who purchase property in your Chicago condo association must also agree to the association’s bylaws and rules and …
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How to Deal with Foreclosure & Eviction in Your Condo Association
Condo association boards are responsible for the well-being of their entire association community, and the way they finance shared costs …
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