Association boards must establish reasonable reserves

Q. To the best of my knowledge, our association has never had a reserve study done. The buildings are more than 30 years old. I am concerned we are not saving enough in reserves to try and prevent having another special assessment.    Read the Q&A……………


Related Articles

Boards can file assessed valuation challenges for all owners

Q. I live in a condominium. Many of the owners want to have the county’s assessed valuation of our individual

Chicago (IL) Condo Owners Seek Relief from Fitness Club’s Music, Exercise Class Volume

A condominium association representing 10 residential units and the seven owners who live directly above Sproing Fitness in Chicago’s Old

Attempt to remove Prospect Heights condo board unsuccessful (IL)

An attempt by condo owners in the Prospect Heights River Trails Condominium Assocation to remove their board of directors failed.