For months I have been asking for financials but always an excuse as to why they are not available. This is a 55 and over community which has a master budget and a sub budget. The sub-budget covers 24 condos and the master budget covers 255 single family homes. The assessments for the condos are based on the square footage of each unit. (I assume this is standard for condos?) And then the assessments for the homes are fee simple. Money is transferred from the sub budget to the master for common expenses-pool, clubhouse, front gate ect. The management company has separate contracts for both budgets. There's also two contracts for the landscape company. (we use the same one) There are line items on the master budget in which the condo owners do not get any value for--for instance pressure washing. Our assessments are sent to a PO Box in another city and the management company told me it was a bank but would not give me the name of the bank. Also I cannot get audits even though its required to be done every year. I went to the management office trying to find out why the condos assessments were increased by 18.99% but single family were increased only 6.02%. I was told there figures are different than mine and she would send them to me. But I was in her office. Also was told their financials are hard to understand because the HOA is a non profit. Condo residents are paying $125.00 to $225.00 more a month(depends on size of unit) than the homes and I am told that's just the way it is and leave it alone and enjoy the rest of my life--HUH? I've been told this is none of my business, to leave things alone ect. I will not be bullied. I'm at the point where I believe there is fraud. Its hard to believe my state government turns the other way warn it comes to these homeowner associations. I'm frustrated and need guidance. Thanks everyone for your input.
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