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Since 2003 my assessment has been increased from 3 to 7%. When

we got a new managment...
Since 2003 my assessment has been increased from 3 to 7%. When we got a new managment company in 2006, the assessment was increase to 17%. The owners were not notified. My question is two fold: is it legal to increase once assessments by 17% and is it legal to increase the assessment w/o notifiying the owners. The management co. told me the increase was included in the meeting notes and that the meeting notes are considered a legal document.

Also, I feel the board is stealing from the reserves. How would I go about to prove this? The reason I say this is that since 2003 every year our assessment increases with no improvements on our property. As a matter of fact it has been over a decade since the board has made any improvements to the property. I'm very suspect of the board. I live in DuPage County. Downers Grove, IL My email address [email protected] Thank you.
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Answered in 12 minutes by:
11/15/2010
Jane Doe Deer
Category: Real Estate Law
Satisfied Customers: 3,896
Experience: Attorney since 1986; Plain English explanations of Landlord/Tenant & Purchase/Sale
Verified

Thank you for contacting Just Answer. I look forward to assisting you.

 

While we write back and forth, please keep in mind that I do not know what you already know or don't know, or with what you need help, unless you tell me. Sometimes I'm unable to read your entire question until AFTER I write back to you.

 

Although it's usually five minutes, sometimes there can be a delay of an hour or more in between my answers because I may be researching the answer to your question, helping other customers, or taking a break. If we are writing late at night, I may have to go to sleep and resume helping you the following morning.

 

I need the following information before I can answer your question:

 

Can you please tell me if this is an HOA or a Condo Association? (Different rules may apply).

 

How many owners are there, approximately?

 

Do you have CCR's, Articles of Incorporation, Bylaws, and perhaps any other additional rules?

 

I'll look forward to hearing from you,

 

Jane Doe Deer

 

 

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Customer reply replied 7 years ago
There are 92 condo units. We have by-laws. I do not know if we have HOA or condo association. I thought HOA and condo association were the same thing. We have a condo board who is elected by the condo owners and we also have a Management Co. Oak and Dale Properties located in Hinsdale, IL. I hope this helps. Thank you.

Hi - sorry, need to know just a little bit more.

 

Can you look through your bylaws, and see if you can find a section that says who (the Board or the members) have the authority to raise assessments, and let me know?

 

Usually, in my experience, anyway, increases in assessments must be voted on by the members. It should say in your Bylaws.

 

My best,

 

Jane

 

PS: Condominium Law, for you to bookmark: http://www.ilga.gov/legislation/ilcs/ilcs3.asp?ActID=2200&ChapAct=765%26nbsp%3BILCS%26nbsp%3B605%2F&ChapterID=62&ChapterName=PROPERTY&ActName=Condominium+Property+Act.

 

 

 



Edited by Jane Doe Deer on 11/16/2010 at 3:54 AM EST
Jane Doe Deer
Category: Real Estate Law
Satisfied Customers: 3,896
Experience: Attorney since 1986; Plain English explanations of Landlord/Tenant & Purchase/Sale
Verified
Jane Doe Deer and 87 other Real Estate Law Specialists are ready to help you
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Customer reply replied 7 years ago
I will review the by-laws and get back to you tomorrow. Whether it be the board members or the management company, I still feel the owners should have been contacted and notified of the substantial increase in assessments. Again I would like to know if this is legal. What bothers me is that since 2003, my assessesments have increased - 3%, 5%, 7%, etc. and I wonder why this is? There has been no improvements to the interior or exterior property. Two months ago, I attended a board meeting and I had to beg to have them paint the interior walls of my building. I also requested that our doors be updated and I was turned down because if we updated the doors we would have to get fires doors and that would cost $$$$. I'm thinking to myself - so what??? We need to upgrade. And especiall for safety purposes. I have had it with this board and management company. There is no transparency, no full disclosure from these folks. Thank you for your assistance. I will try to get an answer to you by tomorrow evening as I have a board meeting to attend tonight! One error, there are 142 units, not 94. There are three buildings - 2 buildings with 24 units each and one tower building with 94 units.

OK, thanks.

 

Jane

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Jane Doe Deer
Jane Doe Deer
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Category: Real Estate Law
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Experience: Attorney since 1986; Plain English explanations of Landlord/Tenant & Purchase/Sale

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