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Thursday, February 16, 2012

California HOA

I've owned several condos in California and never had too many problems until recently when one of my HOAs refused to provide me with financial records. I knew that was a red flag. I took them to small claims at which point they finally provided me with some of the financial records. And this is when it got even worse.

It turned out these people had been overpaying the gardener (we believe to clean their private patio), not filing taxes for over 10 years and allowing the person they assured me was a CPA (turns out he was nothing more than a tax-preparer) to not pay bills on time, bounce checks and not create or distribute the legally required financial documents while still paying him.

Cleaning up has been a mess and we have yet to find a decent property manager. Lots of consultations with an attorney, lots of CPA fees and lots of fighting. And we have yet to find a decent property management company. Any suggestions?

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