Cook County 2020 First Installment Tax Bills

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Written by Alexa Jackson

Category: What We're Thinking About Lately...

Published: 31 January 2021

The Cook County Treasurer will be releasing 2020 first installment property tax bills soon. Payment will be due March 2, 2021. 

First installments are estimated tax bills, equal to 55% of last years total tax. Any change in your 2020 tax bill will be reflected in the second installment tax bill. If you have a 2020 appeal pending, you must still pay this bill. 

If you have a new PIN for the 2020 tax year, your first installment tax bill will be $0 and all 2020 taxes will be payable in the second installment tax bill. 

Amendment Basics for Condo Boards

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Written by Lauren Peddinghaus

Category: What We're Thinking About Lately...

Published: 26 January 2021

Some of the most common issues that plague condominium associations include pets, renting and smoking. These are all matters that can be addressed uniformly via either Rules & Regulations or an amendment to your governing documents (Declaration or Bylaws).

Here are a few important points to consider when contemplating a change to your Rules & Regulations versus an amendment to your Declaration or Bylaws.

• An amendment is a legal process that requires an affirmative owner vote (at least 2/3 but no more than ¾), notification to mortgagees (lenders) and recording of documents.
• Amendments should be prepared and recorded by an attorney to ensure that they do not conflict with laws and statutes that supersede them (such as federal and state laws).
• Amendments are harder to challenge because they require a super majority vote. By default, the courts consider them to be reasonable provided the proper steps were taken to adopt them.
• Rules & Regulations do not require an owner vote – they can be adopted by board vote at a properly noticed board meeting, open to all owners.
• Owners must be given at least 10 days’ notification of the meeting, accompanied by a copy of the proposed Rules & Regulations.
• Rules & Regulations can be changed by the board at any time, subject to the procedures outlined above.

Both amendments and Rules & Regulations can effectively reduce conflict and promote harmonious living in your condo building. Knowing the differences between them can help you to decide which option is best suited to your association.

See our Educational Videos on Rules & Regulations with a CCR membership.

Is a Loan an Option for Your Condo Association?

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Written by Lauren Peddinghaus

Category: What We're Thinking About Lately...

Published: 20 January 2021

Thanks to changes in the IL Condo Act, board members can approve a loan to the associaiton for large capital repair projects without the need for an owner vote.

If your association has been putting off major projects because you don't have the funds to cover the expense, and you are concerned about issuing a large Special Assessment to owners at this time, a loan may be an option for you.

This is an option that is available even to small condo buildings, provided you have your documentation and finances in order. If you'd like to explore this option and are unsure of where to start, HausFS is available to help you navigate the process. Big projects, when not addressed, only cost more as time goes by!

Minimize Smoking in Condo Units with Leasing Restrictions

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Written by Lauren Peddinghaus

Category: What We're Thinking About Lately...

Published: 12 January 2021

Smoking is still a very hot topic for condo boards. Smoke of any kind can easily travel between units and through common elements, creating health issues for all owners.

If your association is experiencing issues with smoke, the best course of action is to attempt to amend your Declaration to prohibit smoking in units as well as common areas. This measure requires a 2/3 vote of the unit owners, at minimum, to pass. If you cannot garner the necessary votes for an amendment, there are other steps the board can take to mimimize the the nuisance. 

The associaton's Rules & Regulations can be passed by the board without an owner vote. These rules can prohibit smoking in common areas and impose fines for violations. The board can also require any lease in the building to contain a "No Smoking" clause to address rented units. Owners are required by the IL Condo act to provide a copy of any lease to the board, which allows for the review of this required clause. Again, the board can impose fines for violation of this requirement and for any smoking that occurs in rented units.

Every measure adds up. Continue to poll your owners for support of a smoking ban in the builidng and take smaller steps until you can accomplish this.