HOA Official Steals $73,000 – No one was Watching

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For six years, Emily Brand had control over the Station West Homeowners Association’s money.  Owners would pay their monthly or annual common charges and Ms. Brand took their money which amounted to over $73,000.  This is another case of owners not keeping an eye on their association’s books and record and finances.

Florida just changed its law to require condominiums with 150 or more units to have certain Official Records in electronic form and available for owners to access and review privately from a web portal.  Condos have until July 1, 2018 to have the web portal and document management and access system in place.  With that in place, situations like Station West HOA would likely not have happened because owners would have had the ability to watch over their association.  Even without a legal requirement looming over them as in Florida, community associations should all over such a system in place so that the Ms. Brand’s of the world don’t steal from them.

Office of the Board is an All-in-One solution that instantly provides a web portal for owner access to required records as in Florida, as well as many other included feature designed to prevent fraud and improper conduct.

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