Now more than ever, associations must spend money wisely and plan ahead to ensure that their reserves are properly funded. Proper reserve funding will allow board of directors to properly maintain the associations and maximize the real estate values of the homeowners. Duties and obligations of board members One of the fundamental obligations of board […]
Tag Archives: condominiums
condominiums
Condoboss(CB): Tell me a little about yourself. Why are you passionate about the community association industry? Tell me about your background in serving the industry. Nik Clark(NK): Superior Reserve Engineering and Consulting is a new company, but we are industry veterans. Between the 2 founding partners, [I] and Justin J. Maier PE RS, we have […]
1. Statistics show there is high percentage of associations who plan their budget only one year in advance. Is your association part of that group? Best run associations have a 5 year capital plan, which allows for better planning, better budgeting and lesser reliance on special assessments to fund capital improvements and replacements. This results in less […]
Now that the fall season is upon us, that can only mean one thing. Old Man Winter is right around the corner! And the good news is that many associations have enjoyed savings over the past few years due to the mild winters that we have experienced around the Chicago area. The question is are […]
Saturday, October 12, 2013 at the Westin Chicago North Shore in Wheeling Attention board members, homeowners and vendors serving the IL community association industry! Come join me at the ACTHA North Expo on October 12, 2013. Here is the link to register online now: https://events.r20.constantcontact.com/register/eventReg?llr=rmhmmecab&oeidk=a07e7tlfprle2f3dee8 General conference information: Expo Trade Show if FREE! Exhibitor Showcase Presentations are FREE! Parking […]
Attention board members, homeowners and vendors serving the IL community association industry! Come join me at the ACTHA South Expo on September 28, 2013. Here is the link to register now: https://events.r20.constantcontact.com/register/eventReg?llr=rmhmmecab&oeidk=a07e7eermto07264079 There is no charge to attend the Expo Trade Show or the Exhibitor Showcase Presentations. The price to attend the educational programs is: $25 […]
CAI is the largest national organization dedicated to improving community association living. If you are a community association board member or homeowner or a vendor serving community associations, you should check out this organization. https://www.caionline.org/
Contributed and written by: Anthony W. Dister, Vice PresidentCOMMUNITY ADVANTAGE of Barrington Bank and Trust, a Wintrust Company I am sure you have all heard that Banks are not lending money and that financing is very difficultto obtain these days; however, this is not the case for well run community associations. Rather theseloans, if underwritten […]
Overspending Example #2: A 15 unit condo association is proactively advised by the management company to take on a $5,000 tuckpointing project in order to address some tuckpointing areas that have deteriorated. The suggestion is made by management to proactively maintain the building and minimize the possibility of water intrusion. The board ignores the recommendation […]
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