Condo Living Made Easy

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

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.

Spring Maintenance

Details: Written by Alexa Jackson; Category: What We're Thinking About Lately...; Published: 25 May 2022

Spring is finally upon us!

For community associations, spring signals that its time for a number of seasonal maintenance projects that vary depending on the particular property. For some associations, this maintenance may only require the removal of winter debris. For others, spring maintenance might include cleaning and prepping swimming pools, tennis courts, and playgrounds; power-washing the facade; or even repainting the entire exterior.

No matter the length of your spring maintenance checklist, a well-coordinated schedule is key to streamlining the process.

Check out this article to learn what maintenance items you might want to consider for your association.

What to Consider Before Purchasing a Condo Unit

Details: Written by Alexa Jackson; Category: What We're Thinking About Lately...; Published: 19 May 2022

Condominum associations are often one of the more affordable living options in many areas of Chicago. Condos allow residents to focus on the maintenance of their own unit without worrying about larger maintenance issues, such as snow removal, landscaping, etc.

That said, purchasing a condo is a major investment in many respects. In addition to the monetary investment of an initial down payment and mortgage, there are also significant financial and legal implications involved.

To learn more, check out this article filled with answers to frequently asked questions from recent condo purchasers and those exploring the market.

Implementing Rental Restrictions in Your Condominium Association

Details: Written by Lauren Schrader; Category: What We're Thinking About Lately...; Published: 12 May 2022

We have been processing a large number of sales recently at Haus Financial Services, and in the process we are finding that many clients are unclear about how rental restrictions are handled in a condominium association. Board members are stating restrictions that do not exist in their governing documents, and therefore are not legally enforceable against unit owners.

It's important for buyers to be properly educated about any rental restrictions when they are considering a purchase in your builidng, and it's important for the board to understand how those restrictions must be implemented. Attempting to infringe on an owner's right to rent their unit without the proper documentation in place can cause major legal headaches for your association.

The best way to impose rental restrictions is via an amendment to your Declaration. This requires a super majority vote of at least 2/3 of your owners. The amendment document must be drafted by an attorney and properly recorded. Because the process of adopting an amendment is fairly involved, it is considered the most valid and legally enforceable way to enact rental restrictions.

If the association's Declaration is silent on the matter of rentals, the board may impose restrictions via Rules & Regulations, which are more easily adopted and also more easily changed. However, Rules & Regulations do not carry the same weight as an amendment and therefore are not considered the best way to legally enforce restrictions.

For more information on this topic, see this article.