Try Getting HOA Records from this Board President

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The President of the Miller Lake homeowner’s association was arrested for threatening a group of teenagers with a gun.  The teenagers were squealing their tires and President John David Warner showed the boys his holstered weapon saying he would put bullet holes in their truck if they do it again.  Community association officers and board members have been charged with stealing or acting in inappropriate ways like this President.  This spells trouble for the HOA and imagine trying to get association records back from him. There are regular reports of Board Members from around the country acting inappropriately.  It’s not …

Board President Charged with Stealing $10k from HOA

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A former Board President got caught stealing $10,000 from his homeowners’ association, Cole’s Crossing Homeowner’s Association in Texas.  Former President Nathaniel Hurt had management reimburse him the money for security cameras that the President allegedly purchased for the community.  Trouble is, there are no cameras and now the President is being charged criminally.  The President forged invoices for the cameras which the camera company confirmed are phony.  It wasn’t until a new Board came in and started inquiring that the theft was uncovered. Read more here. With Office of the Board in place, issues like this are avoided.  Board Members can keep an …

NY Coop & Condo Board Members have to Comply with New Conflict of Interest Law and Annual Reporting

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A new law (effective January 1, 2018) was just passed unanimously by Senators throughout New York.  The law will make it more difficult for cooperative and condominium managers and boards to deal with board member conflicts of interest.  Conflicts of interest in contract making can no longer be overlooked and must be reported to condo owners and coop shareholders.  The New York Legislature is clearly pushing coops and condos to be transparent with owners and shareholders. The first new requirement is that condos and coops must give each board member a copy of the applicable law at least once annually.  For an incorporated …

Florida Condo Owners Sue Association and Management for Failure to Provide Official Records as Required

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Anthony Dewees and Lynda Tiefel are condominium owners in the Adams Street Lofts Condominium Association.  They demanded to inspect and wanted a copy of 7 years of condo financial records like invoices, itemized receipts, statements of account for each unit owner, audits, reviews and accounting statements, and contracts and bids for work.  Under Florida law, the association was required for maintaining those records and producing them for inspection and copying/downloading within 10 working days.  It’s been months since the request and no records.  So they sued under the law which allows them minimum damages of $50 per calendar day for up to 10 …

Owners’ Demand for Transparency Marches into New York HOA’s

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Throughout most of our country, the states have laws requiring community associations like condominiums, HOA’s and cooperatives to keep certain official records of the entity and make them available to stakeholder owners, members or shareholders upon request.  Some laws provide a list of the types of official records and others don’t.  Some require stakeholders to jump through hoops (like stating a good faith reason for the review) before records will be provided for review and others don’t  Some states like Florida have realized that owners own their condominium associations and have a right to review certain records whenever and wherever …

The Looming Website Requirement for Florida Communities and Other Present Requirements

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A few months ago, Florida lawmakers across the entire state unanimously voted in favor of certain changes to protect condominium unit owners.  As of July 1, 2018, all Florida condominiums with more than 150 units must have a compliant web portal for their owners to access certain legally required Official Records.  That way, owners can keep an eye on their association.  The fraud rampant in the management of Florida condominiums led to this change.  And more changes are on the way.   Once lawmakers see that the law change is economically feasible, they place the same legal requirements on smaller …

Condo Manager Steals over $350,000

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The Club at Galloway Condominium Association’s manager overpaid himself in excess of $350,000 over seven years.  He had access to all the records and the board members didn’t.  Without the records, they couldn’t oversee the association’s finances and make sure management was acting appropriately.  Read more. Office of the Board gives board members the power to oversee management.  With transparency and unfettered access to association records, the travesty in this case could have been avoided.

Treasurer/Secretary of Connecticut Condominium Caught Embezzling Over $75,000

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A condominium treasurer/secretary stole over $75,000. Amy Lausier of the Milford Manor Condo Association, embezzled in 2013, $7,810 in misappropriated funds, in 2014 there was about $16,049, in 2015 there was $30,915, in 2016 there was $16,625 and so far in 2017 there was $4,050. She was caught after the board president changed and started reviewing the financial records. Ms. Lausier was arrested but the money is going. With Office of the Board in place, this would not have happened. Owners could have required the Board to provide access to the condominium’s records including financial records which would have uncovered …

Property Management Company Owner Steals Hundreds of Thousands of Dollars

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This is a new horrible story of Steven Dym, owner of Gabriel Management in New York, who stole hundreds of thousands of dollars from associations under management. Associations did not have their own records in their control, management did. The records are gone in an apparent cover up by Dym. A lesson again for community associations who rely on their management companies to keep their records. With Office of the Board, associations instantly have their own place to do business and keep their records that are accessible whenever and wherever board members require. There are plenty of good managers out …

Arizona Property Managers Steal $200k from HOAs

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Whether its Florida, Arizona or any state, trusted advisors of community associations have to be watched.  Association records need to be available for review by board members, owners and professionals to make sure stealing like this does not happen.  This Arizona management company stole $200,000 from 8 of their HOA clients over two years. Records were not readily available or no one was able to watch.  Without insurance those associations are in deep financial trouble. Florida just passed a law that becomes effective on July 1, 2017, making certain action by board members criminal. More importantly, the law change in …