Illinois community associations are facing several important legal and regulatory changes heading into 2027. In this educational webinar, Westward360 is joined by attorneys Ryan Shpritz and David Savitt of Kovitz Shifrin Nesbit (KSN) to discuss key updates affecting condominium and community associations.
The session covers the new requirement for associations to adopt a written collection policy by January 1, 2027, including important considerations for delinquency, late fees, payment plans, legal referrals, and collection procedures. The presenters also discuss reserve funding expectations from Fannie Mae and Freddie Mac, including the 15% reserve contribution baseline being incorporated into upcoming budgets.
Additional topics include new rental fee disclosure requirements, changes regarding emergency vehicle parking, updates to discriminatory restrictive covenants, and requirements surrounding dues allocation and owner approval.
Whether you are a board member, community association leader, or property management professional, this webinar provides practical insight into the upcoming changes and steps associations should take to prepare.
Watch the full webinar to better understand these updates and how they may impact your association.
This webinar is for educational purposes only and does not constitute legal advice.
