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.
A recent Illinois First District Appellate case may end the common practice of foreclosing banks not paying condominium assessments until re-sale of foreclosed property by giving a large incentive to pay assessments as quick as possible following the judicial sale.
A recent Illinois appellate court decision has actually ruled that a landlord’s 5 day notice is defective if the deadline in the notice (the 5th day) falls on a Sunday. As most landlords are aware, it must serve its non-paying tenant with a written notice before it can file an eviction lawsuit. In the residential context, and unless the lease provides for a longer time period, the notice for the non-payment of rent is 5 days, and the notice for some other default under the lease is 10 days.
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.