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EllenS1 (Florida)
Posts: 1,148
Posted:
With the economy the way it is hoas and condos should insist on a board member signing checks rather than the management company. While there may be many fine management companies we now have some that are raiding funds that belong to hoas and condos. I have recently learned of a major management company that has stolen HUGE amounts from the properties they are, or have, managed. I don't know why it hasn't hit the news yet. Another good idea is to see what insurance the management companies have and don't just look at the policy that is provided but call the insurance company to make certain they are covered.

It is very easy to get a CAM license and with real estate sales going down there are many who are attracted to getting a CAM license.
AnnaD2 (Florida)
Posts: 960
Posted:
Hi Ellen! Good to hear from you again and comforting to know you're still staying on top of Association/Condo business!

Please e-mail me. I think you know my e-mail address. I'm very ,VERY curious which management company you're refering to. Our previous management company was HUGE and I found thousands of dollars in discrepancies for money's that "disappeared" while they were in charge! It seems to be a wide-spread problem.

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