Summer in the Chicago area brings more than sunshine and days at the lake – it also brings rising temperatures, increased energy demand, and higher utility bills. For condominium associations, prolonged heat waves can strain building systems, increase operating expenses, and create challenges for both board members and residents.
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As condominium communities prepare for Independence Day celebrations, now is a great time for both board members and unit owners to review their community's grilling and fire safety policies.
Recent events involving Premier Property Solutions have highlighted an important lesson for condominium boards: management companies should help manage community funds, but they should never have sole control over them.
Summer is the perfect time for condo association boards to take a closer look at their finances before budget season begins. A mid-year financial review can help identify potential issues early and ensure the association remains on track for the rest of the year.