Bay Area HOAs - Is anyone else tired of their....

Started by TonyA1 • 5 replies • 1006 views

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TonyA1 (California)
Posts: 3

Posted:

HOA board members or management group. I would love to hear your stories. Ours was so bad that a member ran off with the reserve funds and left the HOA with no money. We had to start again from scratch.

JosephW (Michigan)
Posts: 882

Posted:

There were probably about a dozen embezzlements over the past year, a mix of managers and board members/officers. Not a huge number in the grand scheme of things, but definitely an increase in terms of occurrences and dollars missing. One more reason every association should have an outside, independent auditor looking over everyone's shoulders. Bad economic times means more people looking for help, legal or not.

Joe

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TonyA1 (California)
Posts: 3

Posted:

Ya, this was just before we moved in and the guy is rumored to still rent in the community. I found that California law is pretty weak if as far as HOAs go and if you don't have a good management group or members, well.....

Love to hear from some others out there!

AnnaD2 (Florida)
Posts: 960

Posted:

Tony---I'm going to make a guess here, but you're not a board member are you? What exactly is the intent of your question? Is there something specific you want to find out from us to pass on to your neighbors? We could give you pages and pages of horror stories that we've all lived through and experienced, as being officers and directors on our own boards. But we're here to assist others in current situations who need advise and opinions. Is there any way we can help you without "reliving" our own previous problems?

SusanW1 (Michigan)
Posts: 5,202

Posted:

Tony - you said:
"Ours was so bad that a member ran off with the reserve funds and left the HOA with no money."

HOW did that happen?

Everyone posting on this site works offers ideas and experience so that an incident such as yours could not happen. Please state the facts of the case for us.

Maybe we can learn from HOW he did that.

GlenL (Ohio)
Posts: 5,491

Posted:

Quote:

Posted By TonyA1 on 01/04/2009 1:48 PM
Ya, this was just before we moved in and the guy is rumored to still rent in the community. I found that California law is pretty weak if as far as HOAs go and if you don't have a good management group or members, well.....

Love to hear from some others out there!

Actually Tony CA is one of the stricter states in regulating HOA's and Condo's. After the theft why did the HOA have to start over? Did the HOA have no insurance to cover the theft?

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