Preparing the annual budget for a condo or HOA isn't quite like figuring out a budget for a couple, or even a large family. The board of a multifamily building or association has to consider all the angles—past, current, and future—when for…
The first of the month rolls around and it’s time to pay the bills that keep your building operational. Repairs might need to be made, staff salaries paid, maintenance done to keep all the common elements running, and supplies reordered. Th…
Finding a good neighbor—it’s what we all hope for when we move into a new building or community. The same is true for commercial properties in residential buildings. Making a good match, one that benefits both the commercial tenants and un…
Amenities can be a major selling point for any co-op or condo. You don't have to be Jillian Michaels these days to have a spa or full gym at home. Naturally, they add to the property value of the building as a whole, as well as to the indiv…
Q. My condo unit seems to have developed a pretty substantial water leak. I cannot find the origin of it but I know it’s a definite problem. How do I know whether I am responsible for the water leak or whether it is located inside the wal…
It’s a fact of life: with big purchases come big reams of paperwork. For co-op shareholders and condominium unit owners, that can mean hundreds of pages of documents outlining everything from the financial status of their residential commun…
The experience of co-op and condo board members can often feel like a juggling act. There are varied interests in the community that want different things. There's legal counsel, financial advisers, and managers who try to offer the best pr…
Q I live in a very small building community in suburban Chicago and our condo board has turned over our building to a manager who is running the condo as he sees fit without any input from the board or from residents. He seems to be runni…
Q This seems to be a perennial problem for anyone living in a multifamily community. Our upstairs neighbors always have loud noises coming from their unit—sometimes it emanates from the television or it could be coming from music and vide…
In a city like Chicago, where even the most profligate among us may shed a tear or two at hotel room prices, the homesharing trend has grown by leaps and bounds, with more co-op and condo owners than ever renting out their units to short-s…