Chicago Recycling Ordinance Update

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Written by Alexa Jackson

Category: What We're Thinking About Lately...

Published: 26 January 2017

An update has been made to the Chicago Residential and Commercial Recycling Ordinance. Beginning January 1, 2017, the ordinance mandates source separated recycling as the required collection method. If inspected, locations will have 30 days to come in compliance before being issued a ticket. The updated penalty for non-compliance for first-time offenders is $500-1,000, second offense is $1000-2,500 and third or more offenses is $2500-5,000.  

If your condominium building does not already have recycling services in place, it's time to contact your waste removal provider to add this required service.

IRS extends due date for 2016 condominium association tax returns

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Written by Lauren Peddinghaus

Category: What We're Thinking About Lately...

Published: 24 January 2017

Beginning with the 2016 tax year, condominium associations have an extra month to file their income tax returns.

Form 1120-H (or 1120, if appropriate for your association) is due on April 18, 2017 for associations operating on a calendar year. If your fiscal year does not end on 12/31/16, your return is due on the 15th day of the 4th month after the end of your fiscal year.

Haus Financial Services offers tax return preparation with our Basic Service Package and Annual Compliance Package. Please contact us if you need help with your tax compliance.

Chicago Shared Cost Sidewalk Program saves condo owners money

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Written by Alexa Jackson

Category: What We're Thinking About Lately...

Published: 20 December 2016

Every year the city of Chicago sets money aside to partner with property owners and repair their damaged sidewalks. Your condo association can get its sidewalks fixed at a discount. The Shared Cost Sidewalk Program charges much less than a private contractor would, and elderly and disabled property owners may qualify for additional discounts. This year, the city will begin accepting applications via 311 or the city’s website at midnight on Tuesday, January 10.  Demand for the program is always very high, so if you are interested, be sure to apply right away.

If you are unable to participate in the program, problematic sidewalks can be reported at any time to the 47^th Ward Office of 311. 

HUD urges condo board members to step in during discriminatory conflicts

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Written by Alexa Jackson

Category: What We're Thinking About Lately...

Published: 13 December 2016

Owners will often ask the board of directors to help them resolve disputes with neighbors. The board is sometimes required to step in when any violation of rules or regulations have occurred. However, the board will usually try to avoid being involved, and will recommend those involved resolve the conflict among themselves.

A new rule adopted by the US Department of Housing and Urban Development made it mandatory for associations to resolve disputes if it involves any discriminatory conduct by owners/occupants.

Prohibited discriminatory acts, per the Fair Housing Act, involve negative treatment of others based on race, color, religion, sex, handicap, familial status or national origin, which are often called protected classes. Any association that allows or engages in these acts is liable for its conduct.

Since associations can now be held responsible for the actions of third parties, they must be more willing to step in during disputes and take sides in arguments where discriminatory conduct is evident.

To learn more, click here.