Several months ago, I created our
HOA after the building developer went bankrupt. His 2 units (of 4 total) were taken over by his bank. The building is located in IL. Although I am the named 'president', I am also doing the work of the treasurer, (the other owner), as well as doing the work of the secretary. My neighbor, the 'treasurer', believes that this is a landlord situation and that I am the landlord. I deal with everything related to the building, as well as with the
property management company that the bank hired to represent its 2 units. Since I am doing everything alone and spending an enormous amount of time and effort, I would like to know if I can ask for compensation for doing all the work. We have a
small condo association so I am not looking for much, $50-75 per month. Assuming approval from the treasurer/neighbor, the only other member of the association, is this allowable and legal? Lastly, the management company that the bank has hired had been pressuring me to hire THEM FOR $200 per month. Isn't this a conflict of interest, since they represent the bank? Thanks for all the advice
