Recent Projects
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Click on the image above to review Client Testimonials and other helpful Endorsements/Links.· Management Search for a 500+ unit HOA with multiple sub associations located in a western suburb of Chicago. · Project Facilitation & Administration of a $1 million roof and door replacement project for a 100-unit association located in Chicago.· Developer Turnover, Board & Self-Management Training for an 8-unit association in Edgewater (Chicago).· Association Start-up Consultation after Developer Foreclosures
for a 4-unit association in Rogers Park (Chicago).
· Simplified Self-Management-A Practical Guide w/How-To's & Forms
for a 4-unit association in Rogers Park (Chicago), a 7-unit association in Uptown (Chicago), and an 8-unit association in Edgewater (Chicago).
· Property Manager Trainingfor a management company in Chicago.
www.AssociationAdvocatesInc.com
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Latest Articles
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Click on the image above to obtain the below published articles that we were recently quoted in or wrote, as well as other helpful resources.
· "New Kids On The Block-Orienting New Board Members"
As published in The Chicagoland Cooperator, January 2011.
· "Better Training Of Board Members Bolsters Associations"
As published in the Chicago Tribune, 9/17/10.
· The Role Of The Self-Managed Board... Increasing Efficiency, Decreasing Risk & Improving Property Values"
As published in CAI's Common Interest Magazine, Summer 2010 issue.
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END-OF-YEAR &
SEASONAL TIPS...
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End-Of-Year Reminders:Per the Illinois Condominium Property Act, the Board must perform specific annual duties including, but not limited to, those listed below. Be sure to review your Association's Declaration/Bylaws and check with your accountant and/or attorney on the specific requirements to ensure your Association is in compliance.Year-End Tax Returns:All corporations, including not-for-profits which Associations are considered, must prepare a year-end tax return within certain time frames. If December 31st is your fiscal year-end, your tax return will be due by March 15th. Other tax filings may be due if independent contractors were hired during the year. Year-End Loan Compliance:If your Association obtained a loan to complete capital improvement projects, there may be certain documentation that you'll need to provide to the Bank in order to stay in compliance with your loan agreement. Contact your bank representative or attorney with questions.Year-End Delinquency Review:One item of major importance, whether your Association has a loan or not, is maintaining a zero or low delinquency rate. In these tough economic times, unpaid balances may be a sign of financial problems for an owner and it is crucial for the Board to be proactive to protect the Association from lost funds due to a foreclosure. Now is also a good time to review all owners' account ledgers and create a year-end statement for any outstanding balances that may be due from late fees or unpaid violation fines. These smaller amounts may be considered minimal, but remember that these unpaid balances will appear on the Paid Assessment Letter and must be paid at the time of sale or risk a delay in Closing.
Annual Accounting To Owners:
The Association is obligated to provide owners with annual itemized accounting of common expenses for the preceding year actually incurred or paid, together with a breakdown of reserves, capital expenditure or repairs, taxes, and amounts collected, etc. If December 31st is your fiscal year-end, this document should be sent to all owners of record by March 31st.
Annual Resident/Owner Info Updates:
The Board and/or Management has an obligation to keep accurate records of who is living on the property, where to send assessment and other notices, and who to contact in the event of an emergency. January is a good time to update this information including proof of insurance if your Association has in place the Mandatory Insurance Rule.
Spring Project Preparation:
Time to finalize researching your upcoming capital improvement projects or Spring landscaping, roof and exterior maintenance projects. Proper due diligence, attorney review, negotiations, contract signing, and loan research (if applicable) takes time or you'll wait in line to schedule with your selected vendor when you should be ready to implement your project as soon as weather permits.
Annual Calendar and
Operations Manual:
Review your Annual Calendar to confirm contract expiration dates, especially those that may auto renew, and schedule maintenance and other projects. This is also a good time to review your vendor and contact information to ensure it is all current and/or to begin the research for proposals required. This will help your Association manage with a proactive vs. reactive approach!
Don't have an Annual Calendar or Operations Manual and are unfamiliar with the above protocols? Then perhaps our Services will benefit you!
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shirley@associationadvocatesinc.com
http://AssociationAdvocatesInc.com
© 2011 Association Advocates Inc. All rights reserved.
Information provided in this newsletter is not a replacement for legal, accounting, or other professional services, as needed. Articles enclosed are with the permission of writer. Association Advocates Inc. is not responsible for information provided by a third party.
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Greetings!
Happy New Year from Shirley Feldmann, Angela Falzone and Association Advocates Inc.!
In this issue, you'll learn various considerations on implementing Leasing Restrictions within your Association, a topic that can be somewhat controversial in today's economic times. Also included are important End-of-Year and Seasonal Tips, along with safety and enhancement recommendations for both the common elements and interior units to address winter-specific challenges. And, save the date to learn about efficient Self-Management in our February webinar hosted by ACTHA. We're also sharing with you some highlighted projects and helpful articles recently published.
Since 2002, Association Advocates has serviced over 135 clients associations ranging in size from 3 to 700 units, management companies and developers. We hope to have the opportunity to assist your Association this year (or those you represent) in decreasing risk, increasing efficiency and protecting your property values.
If you would like to share this newsletter, the "Forward Email" link at the bottom of this email will save the formatting, links and graphics. All email addresses are kept confidential and are not shared with anyone.
-- Shirley Feldmann & Angela Falzone
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Leasing Restrictions...
Tough Economic Considerations
One could only hope that 2011 will  bring an improved economy and less financial stress for everyone, especially community associations. But the reality is that it may be much of the same with delinquencies and foreclosures rampant. Financially stressed owners will continue to try and rent units if they can't pay their mortgage and/or sell their property, forcing many Boards to relook at their rental restrictions. To complicate matters further, some Associations have the belief that owners will take better care of a property than renters.
In addition to retaining the quality of the property, Boards have the added duty to monitor the percentage of owner occupancy in their Association to adhere to current mortgage lending requirements. If a buyer cannot get approved for a mortgage due to high tenant occupancy, that could negatively impact resale values for the entire property. It's a tight rope to walk, trying to be helpful to owners who have fallen upon hard times, yet protecting the Association from possible lost income while retaining property values. The questions become more complex when Boards struggle with whether to amend the Declaration or create new rules in order to ensure the Board's decisions will hold up in court if challenged.
Allan Goldberg, Partner at Arnstein & Lehr, has provided us with the below article detailing many challenges, options and steps Boards may consider. His explanation of a "hardship clause" can be used as a guide when Boards are faced with making decisions on this somewhat controversial issue. You may click on the graphic above to learn more about his credentials.
"Leasing Restrictions of Condominium and Townhome Associations" by Allan Goldberg
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Winter Safety & Interior Maintenance Tips
Whether it's snow, ice, freezing pipes or just the added dirt throughout the property, winter brings challenges for many Boards and owners. Besides the  obvious of needing efficient protocols for snow removal and building maintenance, emergency procedures are important to have in place and communicate to all owners. The janitor, manager and/or Board should frequently walk the property to address problems caused by weather-related changes, especially in regards to the roof, gutters and sidewalks, which could be damaged due to extreme conditions.
Water leaks in a unit could be caused by a frozen pipe, roof failure, poor insulation causing condensation or ice damming. Be sure to bring in the appropriate professional to help correctly troubleshoot the problem.
Ice damming is a ridge of ice that builds up along the edge of a roof. The ice creates a dam that backs water up and under the roof shingles. Once the water is deep enough, it penetrates the roofing system and can create water damage inside the home. To prevent ice dams, be sure all gutters are clear of debris and eliminate heat buildup in the space below the roofing system. This can be done by: 1) Improving insulation; 2) Stopping air "bypass"; and, 3) Increasing ventilation.
Safety is always a top priority with any property. Besides keeping salt or calcium chloride available for icy sidewalks, be sure to check that all lights and timers are adjusted for the shorter winter days. Conduct tests on all emergency lighting and exit signs to ensure proper operation in the event of a power outage.
Be sure that all gate and door latches are operating properly. The cold weather can adversely effect the action of door closers and adjustments may be needed. Don't forget the gates on your garbage corrals to help keep unwanted critters out of these areas during winter months.
Interior safety hazards are also prevalent and owners must be diligent in ensuring their internal obligations are met as determined by their Association's declaration. A committee could be helpful in coordinating services while owners pay the vendor directly, such as dryer vent and chimney cleaning, to obtain cost effective bulk pricing and to ensure owners implement important internal services.
S&D Prime Maintenance has prepared the below article with thoughts not only for Boards and managers, but also helpful maintenance tips for homeowners to keep their interior units performing safely and efficiently. You can click on the graphic above to learn more about their credentials.
"Enhancing Your Home's Environment During The Winter" by S&D Prime Maintenance
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"The Five Strategic Steps To
Self-Management"
Wednesday, February 9th: 12pm - 1pm
Webinar Hosted by:
Association of Condominium,
Townhome and Homeowners
Association
Learn some of the basic principals from our new:
Simplified Self-Management
A Practical Guide With How-To's & FormsAn essential resource of best practices for Boards of
condominium and community associations in Illinois
Participants must be pre-registered by noon of the day preceding the scheduled event and each Webinar is limited to no more than 25 people. Dial-in instructions are emailed to registrants at least 24 hours before the date of the Webinar.
Fee: $20/ACTHA Members; $50/Non-Members
(Note: AAI clients/former clients will receive ACTHA member rate.)
Learn more.... Events & Seminars |
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Decrease Liability &
Increase Efficiency
| | Click on photo above to learn more About Us/Services. |
What makes AAI different? We provide customized training designed for your Association's specific needs, prompt responsiveness and practical information to help empower the Board to increase efficiency and decrease risk.
Can you afford our services? Can you afford not to have them? Your home is most likely one of your biggest investments. We can help your Board save time, money and frustration while protecting the value of your property in today's very competitive market.
Whether self or professionally managed, and regardless of the size of your property, if your Association doesn't understand how to stay in compliance with all applicable laws and protocols, then our services will benefit you.
Below are just a few ways we can help you...
· Simplified Self-Management--A Practical Guide With How-To's & Forms
· Association Allies... Partners for simplified self-management
· Board & Self-Management Training
· Developer Turnovers & Start-Up Protocols
· Management Coaching Retainers
· Project Facilitation & Loan Management
· Management Searches, Mediation & Transitions
· Refresher Courses for AAI alumni clients
We can help you learn how to manage your Association like a well-run business to increase efficiency and decrease risk. Call us today!Learn more... Scope of Services
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Shirley Feldmann
Founder/Project Manager
773.348.0742
Angela Falzone
Property Consultant
847.685.0710
 | | Shirley Feldmann & Angela Falzone |
Click on the photo to learn more about Who We Are and our credentials. |
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