Simplified Self-Management
A Practical Guide with How-To's & Forms |  |
An essential resource of best practices
for Boards of condominium and
community associations in Illinois
· 17 Step-By-Step How-To Instructions detailing Condo Protocols in 8 categories (*Recommended Best Practices also for Townhome & Homeowner Associations) · Over 70 Fully Customizable Electronic Forms & Templates (Microsoft® Word, Microsoft® Excel & Acrobat® Reader Compatible) · Best Practice Protocols for Compliance with the ICPA and other regulations · Guidance from Experienced & Responsive Condo Management Consultants · Periodic Updates for pertinent law changes or new How-To's & Forms Learn how to get your "house" in order by proactively managing the Administrative, Financial and Physical aspects to end Board burnout and protect your investment in the following categories:
May be purchased as Package or by individual category
Get Free Sample How-To's & Forms, Review Table of Contents, Press Release & Learn More
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END-OF-YEAR &
SEASONAL TIPS...
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 | | Click on the photo to read published articles AAI wrote or were quoted in and to hear us on broadcasted Radio Shows. |
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 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 research for proposals required. This will help your Association manage with a proactive vs. reactive approach!
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 Feldmann
Founder/Project Manager
773.348.0742
Angela Falzone
Property Consultant
847.685.0710
 | | Shirley Feldmann & Angela Falzone |
Click on the photo above to learn more about Who We Are and our credentials.
© 2012 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 2012 from Shirley Feldmann, Angela Falzone and Association Advocates Inc.! We understand this has been a tough few years for community associations and, now more than ever, it is important for associations to be diligent about financial and management protocols. In this issue, you'll learn the updated facts on a new law, the Community Association Manager's Licensing Act (CAM) including how Illinois community associations are affected, what boards need to know, who needs to get a manager's license, applicable exemptions, and how to apply for a license if you are a manager. Also in this issue are helpful tips to encourage effective communication between Boards and Management. There are also important End-of-Year and Seasonal Tips to help you stay in compliance with applicable laws. Since 2002, Association Advocates has serviced over 140 client associations ranging in size from 3 to 700 units, management companies, Realtors® 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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Property Manager Licensing...
How It Affects Illinois Associations
 | | Click on above for IDFPR website. |
Manager's Licensing in the State of Illinois is here, at last. In discussions and planning for more than five years, the Community Association Manager's Licensing Act (CAM) became law in July 2010. After more than 15 months of work by the Department of Financial and Professional Regulations (IDFPR) and a 7-person Board of Directors, including our very own Angela Falzone, the Rules governing CAM came into effect on October 1, 2011.
Based on these Rules, anyone wishing to manage in the community association management industry must have a license by October 1, 2012. The biggest benefit of CAM to homeowners is a minimum education requirement for property managers to ensure that community associations are being provided with correct guidance based on the Illinois Condominium Property Act (ICPA) and other applicable community association laws. It also will provide a disciplinary avenue for boards and homeowners to file complaints against managers not in compliance.
Many exemptions exist with CAM, so it is a bit confusing. For example, many Realtors® incorrectly believe that simply having their brokers license allows them to manage community association properties. This is not correct. Some exemptions do apply; however, a real estate license does NOT exempt the holder from requiring a manager's license and, under various circumstances, he/she must still take the test, pay the fee and apply for the manager's license before being allowed to work as a community association manager.
Some of the language in CAM has not been developed into Rules and are still being considered in Springfield. These include the fees that were to be paid by all associations in the State of Illinois estimated to be $50 annually plus $1 for each unit in the association (exemption for properties under 10 units). Once reviewed, the enforcement of this policy became unclear. Until a more precise process can be determined, this part of CAM remains in limbo.
Angela Falzone, Property Consultant with Association Advocates and Board Member for CAM, has provided the attached article detailing exemptions for Realtors®, Managers and Associations and clarifying some of the questions that still exist with CAM. Click on the logo above to link to the CAM website, which includes the complete CAM Act, full set of Rules and application to apply for a manager's license. You may also contact the IDFPR for further questions or to file complaints.
"The Facts About Community Association Manager's Licensing" by Angela Falzone, CAM License #261.000039 |
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Developing Relationships To Manage Effectively
Relationships take time and they are worth working on. They require mutual trust, respect, teamwork, communicati on, professionalism, follow-through and realistic expectations. This is important amongst board members, as well as, between the Board and Management, and the Board/Management and Owners. A fine tuned board and manager team are like a puzzle that easily puts itself together. If one piece is missing, everything is thrown off. A functional board and management develops confidence and trust in the owners who are counting on you to do what is best for them. It also makes the job of the manager and board members easier and more satisfying. And, owners must respect the process and not inappropriately lash out at their volunteer boards. It goes both ways. People tend to work harder when they feel respected and appreciated.
Boards that are unhappy with Management and may want to throw in the towel without working on the relationship may be doing themselves and their associations a disservice. It is often best to communicate your dissatisfaction to the manager and/or their supervisor, set realistic short-term goals and see if they are met. If not, and you feel you have gone up the food chain to seek resolution to no avail, then perhaps it may be time to make a change.
Performing a management search correctly takes time and diligence. Just like a marriage, not everyone is designed to be a perfect match. The process should include determining the criteria for service, comparing applicant firms on an apples-to-apples basis, and negotiating a contract to include all service expectations. Clear communication and realistic goal setting right from the start will help to get all parties off on the right track hopefully for a long and mutually-rewarding relationship.
Elena Lugo, Director of Marketing & Operations with Wolin-Levin, has provided the below article with tips on how to effectively work with your management company.
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Decrease Liability & Increase
 | | Click on photo to learn more About Us/Services. |
Efficiency
What makes AAI different? We provide customized training designed for your Association's specific needs, prompt responses 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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