Sunday, September 05, 2010

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Condo Services

A condominium is a housing unit that exists as part of a larger multifamily development known as a common interest community. Common interest communities are those in which each unit owner owns property (such as a unit) and also shares in the ownership and management expense of property owned in common by all members. For many prospective buyers, condominiums represent an affordable housing option. For many low- and moderate-income home buyers, condominiums may be the only affordable housing option. Condominiums owned by investor owners also provide a significant amount of the rental housing in Chicago. Thousands of condominium units have been created in Chicago, especially in the last decade.

Each condominium association is governed by a board of directors, who are elected from among the members of the association, or unit owners. For larger associations, the board may hire a management company to handle day-to-day care and maintenance of the association and its property. Smaller associations will generally self-manage, meaning the unit owners will be responsible for handling the management of the property and the association. And whether large or small, it is in the self-interest of each unit owner to have a thorough understanding of the rights and responsibilities of boards and owners.

Lakeside is the only non-profit organizations in the Chicago region to provide education and technical assistance services to condominium owners and boards. Our goal is to help condominium associations foster strong and inclusive communities and to ensure that common interest communities remain an affordable and viable option for low- and moderate-income households.

Services include group workshops offered throughout the city, webinars, technical assistance, and fee-for-service training.

Group workshops: Lakeside offers workshops several times per month on a range of different topics. Each workshop is led by one or more knowledgeable housing professionals, who typically provide presentations, followed by question-and-answer sessions. The workshops are all designed to improve the capacity of owners and boards to effectively self-manage, though unit owners living in professionally managed associations are always welcome. Workshops generally cost $25 per person, which includes all materials and handouts.

Webinars: To increase the accessibility of its services, Lakeside has begun offering some of its workshops in the form of online webinars. Webinars generally last 60-90 minutes and are led by experienced housing professionals. Webinars include power point presentations, with question-and-answer periods. Webinars are held occasionally, but generally once a month. Webinars cost $25 per person, which includes materials and handouts.

Technical Assistance: Sometimes, unit owners have specific questions and do not want to attend a workshop to get the answer. No problem! Our knowledgeable staff can answer most questions or find someone who can. There is generally no cost for simple technical assistance. Sometimes, if the questions are more complex or if there are more questions than can be answered in a simple email or phone conversation, Lakeside may ask the unit owner to purchase a block of technical assistance services. The cost of technical assistance services is $25 per hour, purchased in 2-hour minimum blocks. Once you have purchased time, you can use it whenever you want. Technical assistance time can also be used for 1x1 sessions with Lakeside staff at our office.

Fee-for-service training: Some association ask us to provide training, such as our popular "4 Cs: The Basics" workshop, at their buildings. Other times, an association may need help with a very specific issue, such as preparing for developer turnover or monitoring a board election. For associations with specific training needs, Lakeside offers fee-for-service.  Each training session is set up following a free consultation to evaluate your needs and whether we are the right group for you. If not, we'll tell you and we'll help you find someone who is more appropriate. The cost for fee-for-service training depends on whether you want to come to us or have us come to you. For training conducted at our office, the cost is $50 per hour, for up to 8 persons. For each person above that, we charge $25 per person. If we come to you, the cost is $75 per hour, for up to 8 persons. For each person above that, we charge $25. Depending on the training and the location, materials and/or travel charges may apply.

In addition to these services, Lakeside also maintains an online discussion board, where you can post questions and receive answers from staff and from other visitors. We have a property listing page where you can view and post free ads for units for sale or rent. We have an e-newsletter, which we use to provide updates on different topics, such as legislation impacting condominium associations and our schedule of events. And we have different information materials in a resource library, provided by the Community Associations Institute, at our office in Rogers Park. You are welcome to come and browse the selection.

There are limits to what we can provide. For example, we are not attorneys and we do not provide legal services. We also do not make direct referrals to service providers, though we do keep lists of pre-screened providers at our office. We can provide those lists to you at no charge.

If you would like more information on our community association services, please contact Julio Soriano, Community Association Specialist. You'll be glad you did!

 

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