| Published Articles |
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.
· "Efficient Self-Management In Three Easy Steps"
As published in ACTHA NEWS, 9/2011 issue.
· "Handling thankless job of
a board member"
As published in the Chicago Tribune, 8/26/11.· "Paying It Forward-Collecting Arrears" As published in the Chicagoland Cooperator, 6/2011. · "The Paper Trail-
Understanding Your Governing Documents" As published in the Chicagoland Cooperator, 6/2011.
· "Managing Expectations-
Defining The Manager's Role"
As published in the Chicagoland Cooperator, 2/2011.
· "Prioritizing Projects-Tough Times
Call For Hard Decisions"
As published in the Chicagoland Cooperator, 2/2011.
· "Pressing Issues For Associations in 2011"
As published in the Chicago Tribune, 1/13/11.
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SEASONAL TIPS...
FALL & PROACTIVE WINTER PREP
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Click on the photo above to review testimonials from clients and industry professionals.
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Foreclosures or Vacant Units:If your Association is unfortunate enough to have an unoccupied unit, be sure to work with the unit owner, bank or Realtor to ensure that minimum heat settings are in place when the cold arrives to prevent burst pipes and water damage. Contact your attorney, as needed, if cooperation is not provided and the Board needs to take control of the situation to protect the property. Don't wait until the temperature dips below freezing as it could take some time to research an appropriate contact person who may have the authority to assist you.Winter Reminders:Notices should be sent out to remind vacationing owners to set their thermostats to a safe level to prevent pipes from freezing in their absence, which could possibly cause serious damage that they could be held responsible. In addition, if gone for long periods, ice makers should be shut off to prevent clogging and flooding. And, with the switch from cooling to heating, this is a good time to replace batteries in carbon monoxide detectors and smoke alarms. Contact the appropriate professional for guidance, when applicable. Snow Removal:Be sure your snow removal contract and/or protocols are in place (i.e., who will shovel) prior to the first snow fall or you will be left out in the cold. Place plastic buckets of the proper salting materials for your property (i.e., salt, calcium chloride, etc.) with lids and scoops at each entry door, garage and/or gated parking areas. Request that all owners be considerate when entering/leaving the property to spread materials to prevent icy spots and slippage between snow removal visits.Landscaping:While yanking out your end-of-the-season annuals and putting down your mulch, this is a good time to do an inventory of what plants did not survive the summer and may require replacement. Check with your landscaper or garden center to determine if now is a good time to replace dead bushes and/or sod or if specific plants may be best to wait for Spring. This will also help you with next year's budgeting.
Window Washing & Carpet Cleaning:
Fall is a good time to schedule your last window washing of the year and carpet cleaning prior to the holidays, so your common areas will look nice when your owners entertain.
Sprinklers, Water Spigots & Pipes:
Sprinklers and outdoor water spigots should be turned off and drained prior to freezing temps. Inspect any uninsulated pipes in lower levels and take precautionary measures to prevent frozen pipes.
Holiday Preparations:
Time to review or create Rules regarding holiday decorations. Live trees should be carried through the property inside tree bags to prevent debris. Specific dates should be included to ensure decorations aren't installed too early or stay up too long after the applicable holiday. Safety must be a top priority. And, protocols for holiday parties will prevent inconvenience to others.
Rubbish Rebates:
If your Association is in the City of Chicago and has more than 4 units, be sure to contact your Alderman's office to apply annually for the Condo Refuse Rebate. The deadline is usually the last City Council meeting of the year or you could be missing out on a sizable reimbursement to your Association. (see AAI Spring 2007 Newsletter archive issue for further details)
Annual Calendar:
Fall is a good time to review your Reserve Study, not only for budgeting purposes, but also to consider implementing the recommended maintenance projects for the upcoming year. Be sure to include these in your Annual Calendar and start getting proposals, so you will be ready to implement the projects come Spring. For larger projects, a loan may be considered as a viable financing option.
Don't have an Annual Calendar and/or are unfamiliar with the above protocols? Then perhaps our Services will benefit you!
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Shirley FeldmannFounder/Project Manager773.348.0742Angela FalzoneProperty Consultant 847.685.0710 | | Shirley Feldmann and Angela Falzone |
Click on the above photo to learn
about our credentials.
© 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!
Association Advocates Inc. is celebrating the start of our 10th year helping homeowners protect their investment! We have served over 140 client associations-ranging in size from 3 to 700 units-developers and management companies. Thanks to all for your support and referrals! Please let us know how we can be of service to help protect the value of your home and investment.
In this issue, you'll learn about how to verify your financial accuracy through audits and the proper adoption and enforcement of rules and regulations. Also save the date to learn the basics from our interactive Simplified Self-Management program in our seminar on Oct. 19th being held in Oak Park.
As you may be aware, Angela Falzone was appointed to the Illinois Community Association Manager Licensing and Disciplinary Board of the Illinois Department of Financial and Professional Regulation, which is intended for the regulation of managers of community associations as per Statute 225 ILCS 427. She will be providing an update on where the process stands at the upcoming ACTHA Expos on Oct. 1st in Deerfield and Oct. 15th in Tinley Park (see details below).
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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Protecting Your Association Through Financial Controls
 More and more, we read in the news about stolen or misappropriated funds within community associations. Whether from a developer paying for construction expenses from association funds or a management company accidentally charging the wrong association or a rogue board member with a gambling problem or poor record keeping, lost funds negatively impact the entire ownership. It can result in unpaid bills, shut off of utilities, legal action and emergency special assessments to make up the shortfall.
Preventing intentional fraud or unintentional financial mismanagement can be easily avoided by implementing proper financial controls. Whether self or professionally managed, monthly financial statements should be generated and EVERY board member should review them thoroughly to provide for proper checks and balances. This is not just the job of the Treasurer. Confirmation that a bill was not paid twice, was the same amount approved in the proposal and/or for services that your association does not have are all red flags to look for. Any withdrawal from reserves should require a minimum of two board signatures and all bank signature cards should be reviewed and updated annually. An audit is an excellent way to ensure that proper financial procedures are in place and should not only be considered when fraud is suspected. A review or compilation provide less expensive levels of analysis. Sometimes the best management companies or board members can make unintentional mistakes due to a simple coding error or typo. Determine the objective of what information you would like to learn and explain this to a licensed CPA familiar with community association accounting practices. They will help you understand which level of financial analysis will provide the type of report that will meet your specific needs. The more organized the materials are that you provide, the more accurate and cost effective of the end report.
Mark Cantey, CPA and principal of Cantey & Associates, has provided us with the below article explaining the types of audits, what is needed, and benefits of having an audit done. You may also click on the above link to learn more about his credentials.
"What is an audit and when should an Association consider having one? by Mark Cantey
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ACTHA Trade Show & Expos
Community Association Managers Are You Legal? (Seminar)
 ACTHA North Expo
Sat., Oct. 1st
Deerfield Hyatt
9:30 am - 10:30 am
ACTHA South Expo
Sat., Oct. 15th
Tinley Park Convention Ctr.
12 pm - 1 pm
Angela Falzone will be providing an update on the manager's licensing requirements and will speaking at the above times in conjunction with Mark Pearlstein, principal with Levenfeld Pearlstein, at the North Expo; and, Robert Prince, attorney with Tressler, at the South Expo.
ACTHA Members: $20; Non-Members: $45
Attend for FREE as our guest! Must be registered by mail or on-line one week before event date. Click on the link below to get the free pass from our website. If you miss the deadline, you may attend at member rate.
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Rules & Regulations... Creating Harmony and Order
 Living in a community association isn't always easy. With different personalities, ages, backgrounds and needs of individual owners, problems are bound to occur at some point.
To ensure a harmonious community environment, all associations are governed by the Illinois Condominium Property Act (ICPA) and/or Illinois Common Interest Community Association Act (CICAA), state and municipal codes, and each association's declaration and bylaws. These documents outline the specific process in which the association must run and include language for the board to promulgate Rules & Regulations to more clearly define their intent.
Unfortunately, many boards of smaller associations believe rules are not necessary. They point out that with only 5 or 10 units, everyone gets along and they don't want to create a hostile environment. That is, until they have to play judge and jury to warring factions within the association. Or even worse, wait until someone gets injured or have an insurance claim rejected because the board was deemed negligent for not enforcing specific aspects of the governing documents.
Rather than cause restrictions on how residents live, Rules & Regulations offer insight and guidance on how owners should act and how the board should react when situations occur. Without these guidelines, boards are left to ambiguous and inconsistent decision making, which can often be translated into discrimination or negligence. And, without clear instructions, owners are left without direction in conflicting situations. The end result can be chaos, disharmony and even lawsuits.
Charles VanderVennet, from the Law Office of Charles T. VanderVennet P.C., offers the following guidelines on proper adoption and enforcement methods for fair and binding protocols. You may also click on the above graphic to learn more about his credentials. |
"The Five Strategic Steps To Efficient Self-Management"
Hosted by The Village of Oak Park
Housing Programs Division
Wednesday, October 19th: 7 pm - 9 pm
 Oak Park Village Hall 123 Madison St. Oak Park, IL
Free Seminar
Learn some of the basic principals from:
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
This session will provide practical hands-on advice for condo associations that manage themselves, as well as, associations working with management to know what your management company should be doing for you. This free seminar is open to residents and non-residents. RSVPs are encouraged to ensure enough handouts are available, but walk-ins are welcome.
Learn more.... Events & Seminars |
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Decrease Liability & Increase Efficiency
 | | Click on photo 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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