The Board Brief
Weekly insights for Chicago condominium and townhome association boards.
Finance & Reserves · 11 min read
Illinois law requires "reasonable reserves," not a fixed number. Here's how boards should set the figure, how reserve studies and funding models work, what lenders look for, and how to fix a shortfall.
Finance & Reserves · 10 min read
A plain-English guide to special assessments under the Illinois Condominium Property Act — the 115% rule, emergencies, two-thirds votes, multi-year assessments, and what owners should do when one arrives.
The Illinois Condominium Property Act sets strict budget deadlines and owner rights. Here's how to build the budget line by line, the 25-day rule, notice requirements, petition rights, and what to do with a year-end surplus.
Collections & Delinquencies · 10 min read
A new Illinois law bars condo associations from suing over unpaid assessments without a written collection policy. Here's what the policy must include, a sample collection timeline, payment plan tips, and how to adopt it.
Governance & Compliance · 10 min read
Section 19 of the Illinois Condominium Property Act gives owners broad access to association records. Here's what's covered, what can be withheld, what can be charged, the deadlines, and how owners and boards should handle requests.
Illinois requires condo board meetings to be open to owners, with narrow exceptions. Here's the 48-hour notice rule, what can be discussed in closed session, recording rights, a sample agenda, and tips for running productive meetings.
Governance & Compliance · 11 min read
A practical guide to Illinois condo board elections — terms, candidate deadlines, proxies vs. association ballots, electronic voting, secret ballots, quorum, vacancies, a sample timeline, and how to run for the board.
Maintenance & Insurance · 10 min read
When water comes through the ceiling, who pays — the association, the upstairs owner, or you? How Illinois condo insurance law divides responsibility, how deductibles work, real-world scenarios, and how to prevent leaks.
Board Leadership · 10 min read
Illinois condo board members must act as fiduciaries of the owners. Here's what that duty involves, real-world examples, the conflict-of-interest contract rule, a board code of conduct, and the insurance that protects volunteer boards.
Maintenance & Insurance · 14 min read
Illinois law gives condo boards special authority in emergencies, but defines "emergency" narrowly. Here's what qualifies, how owners should report it, how boards should respond, funding, and notice deadlines.
Can an Illinois condo association limit rentals or ban Airbnb? Here's what the Condominium Property Act requires of leasing owners, how restrictions get adopted, how to design a rental policy, and how to enforce it fairly.
Governance & Compliance · 9 min read
Illinois requires a special owner meeting before a condo board adopts or amends rules. Here's the process, the notice requirements, the limits the law puts on what rules can say, common rule topics, and how to write rules that work.
Illinois condo boards can fine owners for rule violations only after notice and an opportunity to be heard. Here's how to run a fair, defensible enforcement process, with a sample notice, hearing structure, fine schedule and tips for owners.
Illinois gives condo associations strong tools to collect unpaid assessments: a priority lien, foreclosure, eviction, and a six-month recovery from foreclosure buyers. Here's how each works, how to choose, and what owners should know.
Condo insurance premiums keep climbing. Here's what Illinois requires associations to carry, where boards have flexibility, a renewal timeline, questions for your broker, and what owners should check in their own policies.
A plain-English guide for Illinois condo board members and owners: the balance sheet, income statement, reserve report and delinquency report, key ratios, audits vs. reviews, internal controls, and the red flags to watch for.
Board Leadership · 9 min read
A practical guide for Illinois condo boards on soliciting and comparing contractor bids — how many to get, writing a scope, comparing fairly, checking references, contract essentials, insurance requirements and conflict-of-interest rules.
Whether you're taking over from a developer or welcoming new board members after an election, here's what Illinois law requires, a first-90-days plan, an offboarding checklist, and an onboarding packet for a smooth transition.
Owners & Residents · 9 min read
Selling an Illinois condo means getting a disclosure package from the association under Section 22.1. Here's what's in it, how fast the board must deliver it, what it can charge, what buyers should look for, and a step-by-step selling timeline.
Finance & Reserves · 9 min read
Nobody likes an assessment increase, but how the board explains it makes a big difference. A practical guide for Illinois condo boards, with a communication timeline, a sample cover letter, tips for tough conversations, and the legal notice rules that apply.
