Introduction:
For HOAs, planning and budgeting for future maintenance and replacement costs is essential. Due to the condo collapse at Surfside in Florida there is a national focus on the integrity of buildings and the need for reserve studies and proper asset management. Lenders are starting to require such reports...
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Elevators may be the most complicated and expensive asset in your building. Fix your contract, know the basics and minimize legal risks before your community finds itself out of order.
The passenger elevators in a 90-year-old, 62-unit, 16-story condominium complex in Chicago were so small and vintage...
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Q. Our condominium association last raised our assessments in 2010, which left us with a small surplus above our annual expenses to fund our reserve account. With no assessment increases since then, but increasing expenses, we are no longer able to meet our operating...
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Many communities have some sort of stormwater management system – a lake, pond, wetland or dry retention basin – designed and constructed during initial development. These stormwater systems help filter pollutants and manage the water runoff into surrounding streams, rivers, lakes, bays, the ocean or other waterways.
Some stormwater...
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