Buyers can request condo boards financials

Posted on March 9, 2016 | 1 comment

Q: I purchased my condominium unit in summer 2014, however, I have since learned that the condominium association has been operating at a loss for many years. The board is unable to pay its expenses because only about half of the unit owners have been paying assessments in our small association and, thus, the board is now proposing a six-figure special assessment to pay its bills. How could I have found out about the association’s financial condition before my closing?

A: First, the condominium board has a fiduciary obligation to the unit owners to pay for incurred expenses regarding the maintenance, repair and replacement of the common elements. If regular assessments are insufficient to pay such amounts, the board is within its rights to adopt a special assessment pursuant to Section 18(a)(9) of the Condominium Act and should also aggressively pursue collection of delinquent assessment from the nonpaying unit owners.

 Second, regarding a condominium unit purchaser learning about the financial condition of a condominium association, Section 22.1 of the Condominium Act gives prospective purchasers the right to request certain documents and information. Included in those statutory disclosures are a statement from the association as what capital expenditures are anticipated by the association within the current or succeeding two fiscal years; the amount of reserve funds; and a statement of the financial condition of the association.
Read More at: http://www.chicagotribune.com/classified/realestate/ct-re-condo-adviser-0221-20160218-column.html

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Styling tips for creating a beautiful bedroom

Posted on March 9, 2016 | Leave a comment

Tip 1

As yourself how you want to feel within the space, and select colours accordingly. Colour is an emotive language, and will help dictate the mood of a space. If you want your bedroom to be a place of inspiration, select colours that are uplifting and invigorating to you. Yellow, for instance, has been proven to be a mood-lifter. If, like me, you prefer the bedroom to be a space of calm and quiet, turn the colour volume down and opt for a softer palette as opposed to bold. If you are influenced by trends, some of Pantone colors this season could be good options, with lilac being a popular choice.

Tip 2

Beautiful bedrooms often have layered beds. They can be layered in varied shades of the one colour using texture as the point of difference, or alternatively layered in colours and patterns for visual punch. I prefer a mixed bed that is curated by its owner with a mix of multiple brands as it adds a hit of personality to the room. My own bed, although harmoniously linked by colour, has five brands on it at last count. This mix has allowed the bed to shine and be the art in the room. Be brave enough to try your own combinations and be blown away with the variations you can achieve.

read more at: http://www.domain.com.au/advice/six-expert-styling-tips-for-creating-a-beautiful-bedroom-20160302-gn87m0/

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Four Ways to Help Make Your Roof Leak-Proof

Posted on March 7, 2016 | Leave a comment

Considering the record-breaking heat last summer, we understand why you might welcome the storms El Niño is sending our way. But before you start planning to spend your weekends curled up on the couch with a cup of tea, watching the rain pitter-patter on your windows, take some time to prepare your home—and in particular, your roof—for the deluge.

Of course, roof maintenance is important all the time, but this year, it’s especially critical. Experts say that homes could be more susceptible to leaks this spring because the summer’s high, dry heat caused the wood in houses to contract and open up small gaps, big enough to allow water to leak through.

And that’s why homeowners should make sure their roofs are sealed up tight before the rains come. Following are some steps to take to help you avoid leaks this spring:

Perform a thorough inspection. You should give your roof a good once-over at least annually, and twice a year if possible. It’s not as difficult as you might think: Just put a ladder up to the side of your house and check for missing or worn shingles. Take a particularly close look at spots where there’s flashing or where two different materials meet, such as the areas around chimneys, vents, and skylights. If they’re not sealed right, they’re prime spots for leaks. Homeowners with tile roofs might think they can skip this step, but they shouldn’t. Tiles can slip, chip, and crack, exposing the felt paper underneath to sun, which in turn causes wear and tear to the paper, leading to possible leaks.

read more at: http://www.calif.aaa.com/home/publications/westways/insurance/2016-roof-maintenance.html?zip=92117&stateprov=ca&city=san+diego&devicecd=PC&referer=www.aaa.com

disclaimer: for information and entertainment purposes only

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