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Are any communities you manage experiencing issues with CertainTeed fiber cement siding installed prior to September 30, 2013? If so, you may be eligible for a settlement. A class action lawsuit was filed against CertainTeed and settled for $103.9 million, with an effective settlement date of August 11, 2014. This date is important. Class action […]
Why Update Your Reserve Study? The simple fact is, things change. Just to mention a few, the condition of the property elements on which the reserve study is based change. The association’s financial situation and reserve fund balance change. Board members and property managers change. The condition of the property elements are always changing whether […]
How do you decide what type of siding to use on your home? Cost, esthetics, maintenance, and durability all are items to be considered when deciding on the exterior cladding for your home. One option that has become increasingly popular is fiber cement siding. This type of cladding comes with a 30-50 year warranty; however, […]
Quite commonly an association board will see the reserve study as an added expense and/or necessary evil; however, it is important that they understand the cost benefit analysis of a reserve study. Reserve studies easily pay for themselves and often several times over. The cost benefit of a reserve study is quite simply the fact […]
Retaining walls are useful structures that form a transition between areas of different elevation. Retaining walls allow steep, unusable slopes to be avoided. A retaining wall will make use of the vertical forces from the wall itself and any soil above the wall’s footing to resist the lateral forces from the soil being retained. This […]
Any building or home can suffer from water intrusion resulting in varying degrees of damage. Undiscovered leaks can cause damage to the interior and exterior walls, wood rot, and has the potential to create very costly repairs if the issues are not addressed promptly. For example, water can enter into a building through improperly sealed […]
Several townhome and condominium associations in the Chicagoland area are in need of significant funding to complete EIFS repairs. Apparently the associations did not know how costly it is to maintain and repair EIFS and when the time came to finally per- form the repairs they were caught short and did not have nearly enough […]
How much will your real estate investment cost to maintain five years from now? Ten years from now? Fifteen or twenty years from now? Whether you own a commercial building or a two bedroom condominium, at some point the roof needs replaced, the façade will need tuck pointing or the air conditioner will reach the […]
As most people, know lead paint was used in many homes that were built prior to 1978. Homes with this condition are abundant throughout the Chicagoland area, many of which are townhomes and condominiums. These homes are at the age or approaching the age where several different types of renovation projects are most likely necessary, […]
It’s expected that the buildings we live in and manage will provide a comfortable shelter from the elements. The main building components that provide this shelter can be seen from the outside of the ??? building and the wall cladding and roofing. However, some building components cannot be seen by visual inspection alone 92.2012 and […]