Frequently Asked Questions
What is a "management company," what do they do, and how do I reach them?
Managing a Community Association can be challenging. It involves various tasks such as collecting assessments, overseeing major capital projects, addressing minor repairs and maintenance issues, paying bills, monitoring rules, and identifying potential violations. These responsibilities can be overwhelming for the Board.
The Board hires a full-time managing agent to handle the daily activities of the Association. At RCM, we strive to make the Board’s responsibilities as effortless as possible.
Our Community Association Managers serve as facilitators, providing industry insights to the Board to help them make informed decisions that benefit the community as a whole. While our Management Contract outlines specific duties, we also manage contractors and employees hired by the Board to ensure that work is completed on time and within budget. In addition, we handle daily resident communication to alleviate the burden from the Board.
Community Association Managers are trained and educated to handle the details of managing a community. While they work under the direction of the Board, the Board should not feel the need to micromanage them. Once the Board gives direction, the management team is fully capable of handling the details and communicating any issues back to the Board. It’s important to remember that Board members are volunteers and should not work beyond what they are paid for.
You can reach us in a few different ways as shown below:
Call us at (847) 874-7300
Email us at info@retrocmweb.com
What is a homeowners’ association?
How do Associations benefit their members?
Homeowners typically receive recurring benefits from homeowner associations, including an increase in home value. This is achieved through the collection of monthly or annual dues.
Increase in home value.
By collecting monthly or annual dues and establishing Rules and Regulations, the Association can effectively maintain the common areas and protect the value of each property. The main objective of the association is to prevent any individual or group from having a negative impact on the market value of homes in the neighborhood. This approach is adopted by most communities.
Most communities offer their owner numerous amenities.
Many residential communities provide various amenities such as tennis courts, golf courses, swimming pools, and gated entrances for added security. These facilities are available for use by community residents and serve as an excellent opportunity to socialize with neighbors.
What Are Governing Documents?
Governing Documents define the legal structure and operation of the Community Association. The typical Governing Documents are:
Recorded plat or plan (to show the precise location of units, lots and/or common area)
Declaration, Covenants, Conditions & Restrictions (CC&Rs), master deed, proprietary lease, or occupancy agreement (note that the master deed, proprietary lease, and occupancy agreement only apply to cooperatives)
Articles of Incorporation
Bylaws
Board Resolutions (Rules and Regulations)
Illinois Condominium Property Act
Governing Documents are essential for operating a Community Association. It is crucial to review and use them collectively as not all documents address every issue. Bylaws and board resolutions must align with the Declaration, which generally takes precedence in case of any conflicts. However, resolving any discrepancies will depend on specific factual and legal issues. It’s worth noting that the Illinois Condominium Property Act supersedes any inconsistencies in your documents.