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Property Manager charging owners a fee to see financials

Posted on Wed, Dec 09, 2009 @ 05:52 AM
  
  
  
  

Our property management company that manages our HOA, indicated that a homeowner, who wishes to view any financial/payable reports, can do so with a fee charged by the management company. To avoid this fee, can a homeowner request these documents from a board member? Does the board member have the right to reject a homeowner's request?

What rights do homeowners have regarding requests to view financial and payable records from an HOA board? If a homeowner requests to see the financial/payables reports from the HOA board, is this within the law?

Please advise. Thank you.

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COMMENTS

In Massachusetts, a condopminium owner would be permittd to view financial and payable records at reasoanble times at the place where the rcords are kept at no charge other than the charge for photocopies. 
 
 
 
Stephen Marcus 
 
Marcus Errico Emmer & Brooks 
 
Braintree, Massachusetts 
 
781.843.5000

posted @ Wednesday, December 09, 2009 6:48 AM by Stephen Marcus


Whoa - Nellie! Same here in Washington State that no charge can charged to a corporate member wishing to view records other than the cost of the copies! Check it out where you are. I'd be surprised if it was different.

posted @ Wednesday, December 09, 2009 12:30 PM by Sherry Valentine


It is the same in Michigan. We can charge a reasonble fee for copies, but any member can see the records during normal business hours. We only request that they make an appointment so we can get the records ready.  
 
In Michigan, many documents for both homeowners and condominiums state that the Association must send out a yearly financial statement with the format and content determined and prepared by the Association.

posted @ Wednesday, December 09, 2009 1:37 PM by Joe Schuirmann


In Florida, any unit owner may request records and the Association must make the records available. A reasonable fee for copies may be charged. If you are reviewing official records of the association, then no fee may be charged. 
 
 
 
If your Manager is not a full time manager and/or employee of hte Association, perhaps your management company's contract allows them to charge the association for handling records requests outside of their normal business hours. However that fee would be charged to the Association, not the owner making the request.

posted @ Wednesday, December 09, 2009 4:25 PM by Joyce Nord


The mananger says the "Industry Standard" cost per copy is $5 per page and you must pay for all pages even though you need only one or 2 pages.

posted @ Sunday, September 05, 2010 11:50 AM by Jim Trezek


$5.oo per page???? really??? Sounds pricey. That would not be permitted in Massachusetts-just photocopy charge so maybe 10 cents or 25 cents per page. 
 
 
 
Stephen Marcus 
 
Marcus Errico 
 
781.843.5000 
 
 
 
 
 

posted @ Sunday, September 05, 2010 3:40 PM by Stephen Marcus


We own a condo in Massachusetts. I have been trying to determine the total annual cost of our Property Management company and was told by our Board that I will need to get the info from the company! The company advised me that the best they can do is give me a General Ledger report (at $.10 / page) and let me wade though it to find what I need. Their accounting system does not allow them to zero in on the fees we have paid over a given period of time. And, what's worse is our Board does not keep track of expenditures they approve and when. 
I hasten to add that our management company will research their data for the requested information at $95 per hour!

posted @ Sunday, August 14, 2011 1:40 PM by Bob Sullivan


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