Condo Living Made Easy

Presented by Haus Financial Services, LLC - Elevating Small Condo Management.

Is your condo association receiving estimated water bills?

Details: Written by Lauren Schrader; Category: What We're Thinking About Lately...; Published: 21 June 2022

The City of Chicago issues water bills on a bi-monthly basis. Sometimes, estimated readings are used to calculate water usage when an actual reading has not been taken.

When the city doesn't take an actual meter reading for a long time, however, you could find that you are overpaying for water or worse, underpaying and subject to a large bill sometime in the future. This can create major cash flow problems for your association.

Check your bills for estimated readings and contact the city to arrange for an actual reading if necessary. You shouldn't be paying for any more (or less) water than you are actually using.

Condo Safety State Legislative Mid-Year Update

Details: Written by Alexa Jackson; Category: What We're Thinking About Lately...; Published: 14 June 2022

Nearly 20 state legislatures have considered bills in response to the partial collapse of Champlain Towers South in Surfside, Florida last year.

Following the collapse, CAI (Community Associations Institute) convened three specialized task forces to explore changes to laws and best practices for the community association housing model that could help prevent a similar tragedy.

Last week, the Florida legislature unanimously passed the Building Safety Act for condominium and cooperative associations. The legislation includes a framework largely based on CAI’s recommendations. Associations will have two years to comply with these requirements.

Learn more about the legislation's framework and a summary of how other states addressed condominium safety concerns in 2022 here.

Getting Smart About Condo Living

Details: Written by Alexa Jackson; Category: What We're Thinking About Lately...; Published: 07 June 2022

First-time condo buyers are often surprised and confused by the way their new building or HOA operates.

In a condo, you can’t depend on the landlord for everything as you might in a rental, nor can you do whatever you'd like without any prior approval, as you would in a single-family home.

Confusion often stems from areas like monthly assessments, shared vs. owned elements, board responsibilities, etc.

To learn more about orienting new condo owners, check out this article.

Mental Health and Community Associations

Details: Written by Alexa Jackson; Category: What We're Thinking About Lately...; Published: 01 June 2022

Community association board members and managers will work with people from all walks of life, including residents who are living with behavioral or mental health issues.

While some residents may openly discuss their struggles and/or specific diagnosis, other residents' struggles may go undiagnosed and undisclosed, making it harder for the board or management to understand the situation.

Regardless of the scenario, all residents deserve to be treated with dignity and respect. If associations fail to treat a resident with the appropriate care, they may find themselves liable for damages.

Check out this article to learn how community administrators can appropriately address and support residents living with behavioral or mental health issues.