As the COVID-19 vaccine rolls out across the country, board members are noticing that many vaccinated residents no longer want to wear masks.
Even while more people receive the vaccine, CDC guidelines remain the same, including hand washing, social distancing, and mask wearing.
Therefore, vaccinated residents still need to take precautions by wearing a mask in public spaces and not gathering in large groups.
Vaccinated residents who refuse to wear face coverings are also calling for amenities to reopen, which could expose associations to liability.
If associations choose to reopen their amenities, they must adhere to local, state, and federal guidelines in addition to determining the cost of extra precautions for reopening.
Boards should continue to communicate the importance of masks and social distancing in public areas of their buildings.
Learn more and find helpful templates for communicating with residents here.
As of October 4, 2021, the Illinois Eviction Moratorium has ended.
This means that residential tenants can once again be evicted from their units. Additionally, a “covered person” is no longer protected from evictions and landlords are no longer required to send the IL declaration prior to filing an eviction lawsuit.
Learn more here.
The IL Condo Act requires that condominium associations provide for a "reasonable reserves" in their annual budgets. These are funds that are collected in additon to regular operating income that associations accumulate, ideally, in a segregated bank account.
Saving for large repair and replacement projects over time is critical - this helps associations to avoid large, unexpected Special Assessments that may create an unnecessary burden on owners. If you are still unclear on what qualifies as a Reserve expense, however, and when the association should draw on those accumulated funds, this video is for you!
Follow along with Bryan Farley, RS of Association Reserves in this informative explanatory video on Reserve Expenses vs Operating Expenses.
Watch it here.
As COVID-19 continues to impact in person activities, many condominium associations may need to conduct their upcoming board meeting, budget approval meeting or board election virtually. Conducting virtual meetings requires preparation.
Here are ten best practices to help board members, property managers, and community association leaders limit distractions during virtual meetings.
Learn more here.
HausFS has begun preparing 2022 Draft Budget Packages for our clients.
Here are some items to keep in mind as you plan for 2022:
Remember:
Need guidance in preparing your budget? View our Educational Video "Budgeting Made Easy". (Available to CCR Board Member Subscribers.)