It is unfortunate that some condo or homeowner association owners have reported misconduct on behalf of the board presidents or directors. Misconduct, including various types of fraud, can be something like a vendor trying to get contracts from an association or a director stealing association funds. Who is to stop them? While community associations seem to be a corporation, they do not have an investigatory department or anything related to catch fraud-like activity. Unfortunately, finding evidence of such activity is up to the condo and homeowners.
If you live in a condo community, you do however, have some options. In Florida, for example, you may file a complaint with the Division of Florida Condominiums, Timeshares, and Moblie Homes. In more severe circumstances, you may want to call your local police. Whichever route is chosen, you will need to show positive proof to file a complaint.
Here are a few ways that can help you find the proof needed to build your case:
-Ask questions
-Review the association's records- make an appointment if necessary
-Request and perhaps pay for copies
-Read through all statements, reports, receipts
This may sound like a lot to place in the hands of a condo owner, not to mention the time involved in gathering evidence. However, it is the only way to take action on any misconduct or fraud taken by your condo association's board and/or directors.
Should condo and homeowner associations be investigated regularly for fraud-like activity? Is it worth the extra resources-possibly coming out of your pocket?
Let us know what you think.
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