Hillcrest - HOA Management Blog

HOA Taxes

Your Guide To HOA Tax Returns And Tax Filing In Illinois

An HOA tax return is something every association should understand, whether large or small. Filing correctly will help boards avoid penalties and maintain the association's good standing with the IRS and the state. Board members need to know what forms to use, when to file, and how rules fit into the process.   What is an HOA Tax Return? An HOA tax return is a federal and state filing that reports an association’s taxable income to the appropriate tax authorities.…
Denise
September 23, 2025
HOA Finance

HOA Financial Reports: Is The HOA Board Required To Make This Yearly?

An HOA financial report is more than just a set of numbers. It is a tool that can help board members maintain transparency and accountability. Preparing and sharing financial statements is not only a best practice but also a big part of fulfilling the board’s legal and fiduciary responsibilities.   What is an HOA Financial Report? When people ask, “What is HOA financial reporting?” they often picture a stack of spreadsheets. In reality, it is the process of recording, summarizing,…
Denise
September 23, 2025
HOA Laws

Breaking Down The Illinois Electric Vehicle Charging Act

The Illinois Electric Vehicle Charging Act opens the door for cleaner transportation across residential communities. As more residents switch to electric cars, homeowners associations must adjust their rules. This law ensures that residents can charge their vehicles at home without facing unfair roadblocks.   What is the Illinois Electric Vehicle Charging Act? The Illinois Electric Vehicle Charging Act, a state law, took effect in 2024. It supports the growth of electric vehicle (EV) infrastructure in residential areas. The law applies to…
Denise
August 27, 2025
HOA Fees and Assessments

When And Why Condo Special Assessments Are Issued?

Condo special assessments are legal and, sometimes, necessary. Still, they can also come as an unwelcome surprise to many unit owners, especially considering they are an added expense. By understanding what these assessments are, when they are issued, and why they are needed, unit owners can better prepare themselves.   What are Condo Special Assessments? A condominium special assessment is an extra fee that a condo association charges to unit owners. They are in addition to the regular condo dues.…
Denise
August 22, 2025
HOA Fees and Assessments

Why Are Condominium Association Fees Higher Than HOA Fees?

Condominium association fees can cause a lot of confusion among buyers, especially since they tend to be higher than HOA fees. This difference boils down to what these fees cover and how these associations operate.   What are Condo Fees? Condominium association fees are fees that unit owners pay to their condo community. These fees cover shared expenses within the association. Owners pay them monthly, quarterly, or yearly. While exact expenses can vary from one condo to another, condo fees…
Denise
August 19, 2025
HOA Board

What Is Conflict Of Interest In HOA And COA Boards?

A conflict of interest in HOA and COA boards can cause serious problems when left unaddressed. It can affect board decisions, create tension in the community, and even lead to legal trouble. That is why all board members need to understand what it is and how to avoid it.   What is a Conflict of Interest in HOA? A conflict of interest occurs when personal and professional interests clash. For HOA boards, it happens when a board member's personal interests…
Denise
August 8, 2025
HOA Maintenance

HOA Tree Policy In Chicago: Who’s Responsible For Maintenance?

The HOA tree policy plays a critical role in preserving the green spaces of neighborhoods. Trees provide beauty, value, and shade, but they also require regular care. In an HOA community, the question of who maintains them can often create confusion.   What is an HOA Tree Policy? An HOA tree policy outlines the rules for maintaining, trimming, removing, and planting trees within a community. This policy helps prevent disputes, protects property, and ensures that tree-related maintenance is done safely…
Denise
August 4, 2025
Technology in HOA

Are You Legally Required To Put Up A HOA Website?

An HOA website is a useful tool that facilitates the operations and management of a homeowners association. With a website, HOAs can streamline complex processes, provide easy access to residents, and lighten the workload of board members. Whether an HOA is required to have one depends on a couple of factors.   Is an HOA Website Required in Illinois? In today's technology-forward age, having a website is almost a must. Brands and companies must create and maintain websites to increase…
Denise
July 24, 2025
HOA Deliquency

HOA Foreclosure Explained: Can The HOA Really Take Homes?

Many homeowners don't realize that unpaid dues and assessments can lead to HOA foreclosure. While rare, it is a legal tool that associations may use to recover delinquent balances. The process can vary by state, but in many cases, an HOA can take legal steps to seize the home.   What is HOA Foreclosure? A homeowners association foreclosure is a legal action an HOA takes to recover unpaid fees, assessments, and fines. When a homeowner fails to pay, the HOA…
Denise
July 14, 2025
HOA Collections

What Triggers A Lien In Homeowners Association? Common Causes Explained

A lien in homeowners association cases usually begins with a financial dispute. When a homeowner falls behind on dues or other charges, the HOA can file a lien against the property. This legal tool can help secure the debt and grant the HOA the right to collect it. When left unresolved, the lien can even lead to foreclosure.   What is a Lien in Homeowners Association? A lien in homeowners association terms refers to a legal claim placed against a…
Denise
July 3, 2025