Your Declaration May Require the Association to Refund a Budget Surplus In the past, many (if not most) condominium associations that ended their fiscal years with a budget surplus (that is, a net excess of income over expenses) would add that additional money to the...
Click below to listen to an episode of the Common Interest Podcast featuring Nicholas Bartzen.
In This Issue Monthly Attorney Retainers: Are they worth the expense? Unit Foreclosure Actions: Should the association spend money to get involved? Visit the link HERE to read our March Newsletter.
Download this article as a PDF here. First, let’s be clear what we’re discussing here – the word “retainer” is used by attorneys to mean different things. An “initial retainer” or “fee retainer” is an advance payment for some legal fees that will be done in the...
Nicholas Bartzen, Altus Legal LLC founder, co-presented an educational forum at the annual CAI-Illinois Conference and Expo in February 2019 with Brian Butler, Vice President with FirstService Residential. The focus of the presentation was technology in the 21st...
Download this article as a PDF here. Most property managers (and many board members) have, at some point, received some notice of foreclosure related to a unit within an association. Sometimes the notices go directly to the board or manager. Other times, they go to...
Our monthly newsletter full of helpful tips and advice for Illinois condominium and homeowner associations. This month: Investing Reserve Funds: How aggressively can the board Invest? Heating Requirements: Does the City of Chicago Heating Ordinance apply to...
The answer is “yes and no.” Condominium associations in the City of Chicago certainly do have an obligation under the Chicago Building Code (§13-196-410) to provide heat to any unit where owners do not have individual control of the heat. This becomes a problem in...
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