HOAs, condominium complexes, cooperatives and other similar organizations face a litany of complex issues. For example, a single owner refusing to pay assessments may end up costing all of the other owners (via their association’s financial issues). It can take years for matters to be remediated, and in that time, financial consequences mount. It is why condo attorneys are such a vital part of the day to day operations of any such properties.
What They Can Do
First and foremost, is the fact that attorney specializing in homeowners associations, condos, and the rest is always going to represent the corporate entity that is the HOA or Board. The job of the board or leadership is to manage and direct the community. Often, a legal matter can quickly and easily derail or cause a board to lose its focus. Whether it has to do with pursuing a collection or creating (updating) procedures, policies, contracts, governing documents and so on, a lack of knowledge can mean lots of wasted time and resources. The role of attorneys is to alleviate the challenges and answer questions, ensuring the best results.
Don’t Emphasize Price…Emphasize Expertise and Experience
It is also significant to note that most attorneys specializing in condos and other similar organizations work to ensure the most cost-effectiveness possible. Structuring fees to best serve the client and meet their needs. As one legal expert has said, many boards “choose legal counsel based solely upon price rather than service. A higher hourly rate usually comes with a greater level of experience, and may be well justified… A more experienced Law Firm/Lawyer may be able to do the same work in less time which translates into cost savings for your community – even at a higher hourly rate.”
Specialization is Significant
When seeking attorneys for HOAs and condos, it is important to look for those that specialize in this area. Visiting their website might show you an array of useful publications and even seminars available for boards and others running HOAs and condo associations. This proves they are passionate about helping those in need. If you find you must look for condo attorneys in Chicago, you can start and end the search with Keough Moody. With decades of experience and specialization in condominiums, HOAs and not-for-profit entities, they have the kind of services and support vital to your success.
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