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Property managers refuse owners request for condo financial records


Question:

Somebody is telling a lie! The New Jersey Condominium Act, N.J.S.A. 46:8B-14(g) states that the association, acting through its officers or governing board, shall be responsible for the "maintenance of accounting records in accordance with generally accepted accounting principles, open to inspection by unit owners at reasonable times". These accounting records shall include (1) a record of all receipts and expenditures; and (2) an account for each unit setting forth any shares of common expenses or o thr charges due, the due dates thereof, the present balance due, and any interest in common surplus. Further, 46:8B-16(d) states in part that "Upon investigation, the commissioner shall have the power to order the compliance of the association with such a request."

As a unit owner, I have asked the Board's management company and the Association's attorney an opportunity to inspect these records. The Property Management Company from direction of the Board has refused me an opportunity to inspect those records. When I turn to the association's attorney has also refused me an opportunity to inspect those records. When I asked the state to investigate this issue they advised me that based on their investigation the property manager and the association attorney have advised that they have provided me with an opportunity to few those records. That is not true and the State of NJ has advised me that since an attorney would not lie to the state and a property manager also would not lie to the state because both could lose their licenses. The State has advised me my case is closed since of the three entities one of them is lying and it must me me. I have not seen or had the opportunity to review those records per NJ State Law, but State refuses to help me. Other than litigation how to I get a view of these financials? Thank you. N.J.S.A. 46:8B-14(g)


Answers (28)

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