The Illinois legislature recently amended the Illinois Condominium Property Act with several changes designed to protect unit owners. Some of these changes are quite significant and will go into effect beginning on January 1, 2018.
On February 3, 2016, the First District Appellate Court of Illinois issued an opinion in Stobe v. 842-848 West Bradley Place Condominium Association, a case involving a challenge to a condominium board rule imposing a 30% cap on leasing in the building. This opinion is of particular significance, as it is the first time in more than 20 years that the Illinois Appellate Court has spoken on this important topic of restrictions of leasing in condominiums.
Effective January 1, 2015, Section 18.4 of the Illinois Condominium Property Act will finally be amended to allow association boards to deliver notice of meetings or board action via email.
Condominium associations are not-for-profit corporations, and like for-profit corporations, management decisions are made by a duly elected board of directors. However, unlike in a typical corporate board, condominium board members serve on a voluntarily basis, and often have busy schedules or full-time jobs that prohibit them from devoting the majority of their time to association board business.