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Best Board Member Budget Practices REVEALED

Best Board Member Budget Practices REVEALED

Best Board Member Budget Practices REVEALED Approving the annual community association operating budget is one of the most important obligations of the board of directors.  It is also the duty of the board treasurer to take the lead in this endeavor and ensure that a budget is approved in a timely fashion i.e. before the end of 2018 and in accordance with applicable laws.  The approved budget should be realistic while considering short, medium and long-term maintenance requirements of the […]

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Looking for the BEST and most Effective Condo Management Services Company? 5 Key Vetting Steps Revealed

Looking for the BEST and most Effective Condo Management Services Company?  5 Key Vetting Steps Revealed

Looking for an Effective Condo Management Services Company? Do you live in a Chicago based condo association?  Or perhaps a townhome association or an HOA?  What are the most important questions to ask your new potential management partner?  How do you insure that whatever company you hire actually delivers on all the promises.  Are you feeling frustrated with the vetting process?  Have you hired and fired a few condo management companies and are now fed up with the churn and […]

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Top 5 Ways to Improve Your Condo, Townhome or HOA Community Living Experience

Top 5 Ways to Improve Your Condo, Townhome or HOA Community Living Experience

Top 5 Ways to Improve Your Condo, Townhome or HOA Community Living Experience Are you a homeowner living in a community association such as a condo, townhome or HOA community?  How is your living experience so far?  Is it living up to your expectations?  What were your original reasons for buying into a condo association, townhome association or an HOA community?  Was it because it was “maintenance free” or perhaps “effort free”?  Did you think it was going to be […]

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How Much Should Our Association Have in Reserves? Fully Funded, Partially Funded or Under Funded is the Better Question.

How Much Should Our Association Have in Reserves? Fully Funded, Partially Funded or Under Funded is the Better Question.

How Much Should Our Association Have in Reserves?  Fully Funded, Partially Funded or Under Funded is the Better Question. One of the most widely asked question by the condo community association board Treasurer is how much should be in the reserves.  Another typical question which is essentially the same is “How much should our association put away into the reserves as a part of our annual budget”?  The answer is far from simple especially given the fact that there are […]

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Best Practices: How to Schedule Board Meetings and Annual Meetings for Condo Associations

Best Practices: How to Schedule Board Meetings and Annual Meetings for Condo Associations

Best Practices: How to Schedule Board Meetings and Annual Meetings for Condo Associations Are you a board member of a condo or townhome association?  It is critically important that you schedule regular board meetings and an annual meeting.  This YouTube educational video will show you step by step on how to schedule board meetings and annual meetings for your community association.  It will also show you how to cancel a board meeting or change the meeting details of the board […]

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How Transparent is Your Condo Management Company? You won’t believe what you are about to see.

How Transparent is Your Condo Management Company?  You won't believe what you are about to see.

How Transparent is Your Condo Management Company?  You Won’t Believe What You Are About to See. Do you serve on the board?  Do you realize that the typical base fee of condo management companies (that serve smaller buildings ie. 100 units and under) only covers about 33% to 50% of their total income?  Do you realize that the base fee you are paying your management company is not really all that you are paying?  Some companies include a very detailed itemized […]

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The Top 10 Board Member Blunders

The Top 10 Board Member Blunders

The Top 10 Board Member Blunders Board members are the key decision makers for community associations such as condos, townhomes and homeowner associations.  They are the people that volunteer and take the time to oversee the day to day operations and long term planning of the community.  They are the ones that are supposed to look out for the community with a selfless attitude.  Serving on the board is a fairly large time commitment and it also requires specialized knowledge […]

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Looking for a RESULTS ORIENTED condo management company based in Chicago?

Looking for a RESULTS ORIENTED condo management company based in Chicago?

Looking for a RESULTS ORIENTED condo management company based in Chicago?  Are you a condo board member?  Do you have trouble getting projects done for your condo association?  Are you constantly calling and reminding your management company about a project that never gets done?  Check out this Youtube video and see how projects get DONE!

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Community Association Capital Planning Demystified

Community Association Capital Planning Demystified

Community Association Capital Planning Demystified One of a board of directors’ most important functions is to plan long term. Yet, that task is one many boards ignore or won’t discuss. Additionally, the level of long-term planning seems to vary depending on the community’s size. Larger communities (100+ units) tend to have better long-term planning than smaller ones do. Plus, Illinois does not require a long-term plan, reserve study or minimum reserve for homeowner associations, making planning easier to overlook. So […]

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Tips On How to Prepare the 2018 Condo Association Budget

Tips On How to Prepare the 2018 Condo Association Budget

Tips On How to Prepare the 2018 Budget As we approach the end of the year, and before we dive into the holiday season we must keep in mind to set a budget for the rapidly approaching new year. Budgeting and forecasting is no fun and I agree it can be stressful, but it is certainly one of the ways to help preserve the value of your home/association and get a handle on the your/association’s finances. Budgeting doesn’t always mean […]

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Best Condo Association Winterization Techniques REVEALED | Chicago Condo Management Services

Best Board Member Budget Practices REVEALED | Chicago Condo Management Services

Condo Association Lintel Primer 101 for Board Members

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