Condo and community association boards are to represent the community’s needs and act in their best interest. As such, they have fiduciary responsibility to be fair and transparent. One of our preferred vendors Keough & Moody, P.C., recently explained how the 2018 ruling in Boucher v. 111 East Chestnut Condominium Association, Inc. reminds us how to comply, and prevent issues. Read the below explanations of laws and expectations to determine if you need to change your board’s practices.
HOA homeowners’ insurance is essential to all HOAs. Make sure you purchase the the correct policy for your needs, as otherwise you are opening yourself up to a lawsuit.
A common challenge we address with associations is how to deal with and prevent bad renters, and condo and HOA rental caps. While it is typically not a great idea to prohibit renting altogether, you can put a rental cap into effect. There are other ways to prevent bad renters too.
This article features our three favorite fun Orland Park kid activities. These offer options for a variety of ages, and that parents will enjoy too!