In today's diverse condominium communities, fostering a culture of mutual respect and open dialogue is essential for harmonious living. Recognizing this need, the Community Associations Institute (CAI) introduced the Community Association Civility Pledge, a framework designed to promote civility within community associations. 

The Civility Pledge encourages associations to commit to principles that ensure respectful interactions among residents, board members, managers, and all community stakeholders. Key commitments include:

• Accountability: Encouraging individuals to take responsibility for their actions and words.
• Respectful Interactions: Promoting civil discussions, even when opinions differ.
• Open Expression: Providing opportunities for all community members to voice their views without fear of antagonization.
• Community Engagement: Urging residents to be informed, participate in meetings, and understand community guidelines.
• Guided Principles: Recommending a review of CAI’s "Rights and Responsibilities for Better Communities" as a foundational document.

There a number of benefits that associations can experience from embracing the Civility Pledge:

• Enhance Communication: Establish a foundation for productive and respectful conversations, even amidst differing viewpoints.
• Strengthen Community Bonds: Foster an environment where all residents feel valued and heard, leading to a more cohesive community.
• Promote Effective Governance: Enable boards to make well-informed decisions that reflect the collective interests of the community.

Incorporating the Civility Pledge is more than a symbolic gesture; it's a commitment to creating a thriving, inclusive, and respectful community for all residents. 

If your association is looking for financial well-being, reach out to our team at Haus Financial Services. You can also find, hire, and manage professionals for all your HOA needs on Condoly, HOA Vendor Manager. 

Condominium associations are considered corporations in the eyes of the IRS. As such, they are required to file an annual tax return (either an 1120 or 1120-H).

Condo associations showing taxable income on their federal returns are also required to file an IL-1120 with the state of Illinois.

Tax returns must be postmarked by April 15th this year. If your association has not filed a return in the past, now is the year to begin!

Need help compiling your 2024 financials and filing your tax return? Request Accounting services on Condoly to explore your options.

On January 1, 2025, Section 18.12 of the Illinois Condominium Property Act went into effect. This new section, which applies only to condominium associations, requires all condominium associations that have parking to adopt a policy that addresses how to reasonably accommodate a unit owner who is disabled and requires an accessible parking space to ensure access to the building.

What Does This Mean for Condo Associations?

If your condominium association has parking, you must establish a formal policy outlining how you will accommodate residents with disabilities who require accessible parking. The deadline for compliance is March 31, 2025.

Why This Matters

Without a clear policy, your condominium association risks violating state law and potentially facing legal challenges. More importantly, adopting an accessible parking policy demonstrates a commitment to inclusivity and ensures that all residents have equal access to their homes.

What Next Steps Should Your Association Take?

1. Review Your Current Parking Policies – Determine if you already have guidelines for accessible parking and whether they align with the new legal requirements.
2. Draft a Compliance Policy – Your policy should clearly define the process for requesting and assigning accessible parking spaces.
3. Consult a Legal Professional – If your association has not yet adopted a policy, it’s important to seek guidance to ensure compliance with Section 18.12.

If your condominium association has not yet adopted an accessible parking policy, Condoly can help you to connect with professionals today to discuss what steps need to be taken.

Ensuring compliance is not only a legal obligation but also a crucial step toward making your community more accessible for all.

The Corporate Transparency Act (CTA), enacted in 2021, aims to combat financial crimes by mandating certain entities to disclose their beneficial ownership information (BOI) to the Financial Crimes Enforcement Network (FinCEN). Initially, condominium and homeowner associations (HOAs) were uncertain about their compliance obligations under the CTA. However, recent legal developments have clarified these requirements, impacting associations nationwide.

According to an announcement by Condo Law Watch: 

“On March 2, 2025, the Treasury Department announced the suspension of the enforcement of the Corporate Transparency Act (CTA) against U.S. citizens and domestic reporting companies. The Treasury Department will be issuing proposed rules that will narrow the scope of the CTA to foreign reporting companies only.

As a result, community associations are no longer required to file BOI reports. This is a huge win for condominium and homeowners’ associations, reducing unnecessary compliance burdens”.

If you need personalized guidance or have further questions, please reach out to Chicago Condo Resource for education and condo management support. 

By staying informed and proactive, associations can navigate these regulatory changes effectively, ensuring compliance and avoiding potential penalties.

As of February 27, 2025, the Financial Crimes Enforcement Network (FinCEN) has announced a suspension of enforcement actions related to the Corporate Transparency Act (CTA).

Communication from Burke, Warren, MacKay & Serritella states:

"Reporting companies, including incorporated community associations, may continue to postpone any further CTA compliance at this time and await the new rules and deadlines. Alternatively, reporting companies may file voluntarily if they wish, but there is presently no penalty for failure to file an initial report or any updated report by March 21, 2025."

We know that FinCEN plans to issue an interim final rule by March 21, 2025, which will extend the BOI reporting deadlines. 

This development follows a series of legal challenges and changes affecting the CTA's enforcement. Previously, a federal judge in Texas had issued an injunction blocking the enforcement of the CTA, which was later lifted, reinstating the reporting requirements. Now, with FinCEN's recent announcement, compliance is once again on hold pending the release of new rules and deadlines. 

Navigating these regulatory changes can be complex, especially for small condominium associations. At Haus Financial Services, we specialize in supporting associations with up to 20 units, offering tailored financial and administrative services to ensure financial stability and legal compliance. Our expertise can help your association adapt to evolving requirements and maintain seamless operations.

For personalized assistance in managing your association's financial and compliance needs, consider reaching out to our expereinced team. Our team is dedicated to providing the support necessary to navigate these changes effectively.

Read the full FinCEN's notice.