Under Illinois law, condominium and homeowners associations (HOAs) may take possession of a unit when an owner falls behind on assessments. Once in possession, the association can either:
Collect rent directly from any existing tenant, or
Lease the unit independently to a new tenant.
In either case, the rental income can be applied toward the outstanding assessment balance.
Your Association Could Be Left Holding the Bag
By law, new buyers are typically only responsible for the last six months of unpaid assessments.
Signed the lease
Completed all paperwork
Paid move-in fees and deposits
Independent from board and building politics, we bring a clear, results-focused approach to every assignment:
30+ Years of Specialized Leasing Expertise – Proven track record in navigating even the toughest rental markets.
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Seamless Partnership with Your Property Manager – We complement their role, never compete with it.
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