Many owners of Chicago condos are aware of the potential need for emergency repairs. Chicago is a city of tough weather, including long, brutal winters. Such things as roof repair and the like are common. However, some owners of Chicago real estate may not be aware that the Condominium Act allows the board of any condo association to make emergency repairs without notifying the unit owners—even if the repairs are going to cost them more than the standard monthly assessment fee.
While the Condominium Act requires a board to give unit owners 10 to 30 days advance notice of a board meeting to espouse a specific assessment, it does not necessitate prior announcement of certain other expenses. According to a recent online Q&A with Mark Pearlstein of the Chicago Tribune, under the Condominium Act, the board is not required to obtain approval of the owners for emergency repairs. Nor do the owners of the condos have the right to question the repairs. This is true as long as the repairs are deemed immediately necessary to maintain the structural integrity of the building’s common elements or it is considered pertinent under law.
Even though Chicago condo owners can’t dispute the repairs if they are of an emergency nature or obligatory by law, they do have the right to challenge the project if it will cause an assessment increase above 15% from the year prior or if it costs more than 5% of the entire budget. Of course, it is always in the condo owner’s best interest to remain proactive and fully understand all rights and responsibilities.
For the sake of the condo owner’s sanity and safety, it is best to be prepared for these unforeseen events in advance. According to the website Illinois.gov, one of the best preventative measures is homeowner’s insurance. Even though this may seem obvious to some, there are additional steps that can be taken to further prevent issues:
- Keeping inventory on personal property. Documenting all serial and model numbers for higher-priced items, holding onto receipts and keeping this information in a safe place outside of your home will make claim handling easier, if it is ever necessary.
- Make photocopies of insurance policy. The state of Illinois suggests making photocopies and keeping them in a safe place outside of the home with other important paperwork.
- Always keep insurance company’s contact information handy in case it’s needed.
- Basic homeowner’s insurance policies do not cover flood, earthquake or mine subsidence damages but can be added to the insurance policy for an additional premium. This additional coverage could prove to be extremely helpful, considering Chicago’s snowy and rainy weather.
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