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By CondoAssociation.com • September 22, 2017

Fired property manager too slow to transition our account

My HOA has in the process of replacing our old management company. The board had the HOA lawyers draft and send a 60 day termination notice. when the management company received the notice our manager had told the board that she would be leaving the company at the end of the month. After she left, and after the first 30 days, the management company found the termination notice. Our new company struggled to get any info over the next 30 day's. Now we are 22 days past the 60 day notice, and we have not received any financials or monies. The president of the old management company said that the operating money would be wire transferred by today, but I have not heard if this was completed. The old company also terminated all automatic bill pay's as of 2-2-12, and we are now receiving late notices from vendor like Xcel energy, but since we have not received the operating money we can not pay our bills. My question is "is there any recourse for HOA's against property management companies, when the hold our information hostage?"

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