ILLINOIS – Condo, HOA owners dissatisfied with ‘carefree’ life

LOOP NORTH NEWS:  Condo, HOA owners dissatisfied with ‘carefree’ life
By Don DeBat
January 16, 2017

 A new national survey by the Coalition for Community Housing Policy in the Public Interest has found that 81 percent of community association residents surveyed feel that “lack of transparency” and “poor communication” are major problems of HOA and condo life.

65.9 percent are “very dissatisfied” and 15.1 percent are “dissatisfied” because of transparency and communication issues.

A whopping 72.6 percent of condo and HOA owners surveyed said they were generally “very dissatisfied” (51.2 percent) or “dissatisfied” (21.4 percent) with the whole concept of community association living. And, 60.8 percent of survey respondents urged that community associations should have more government oversight and regulation.

Chicago currently has about 12,235 condo and homeowner associations containing approximately 305,000 residential units, according to a comprehensive directory, the 2016 Association Evaluation Report on Illinois Condominiums and Homeowner Associations. Association Evaluation, LLC, is a Chicago-based real estate technology firm that rates the livability and stability of condo and homeowner associations. Read more:

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