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What’s a Coop, Condo or HOA Board to do when it can’t get its Records from Outgoing Management? (NY)

/ Owner - April 6, 2020

When coop, condo or HOA boards rely on management to keep their books and records, getting outgoing management to turn them over to new management can be difficult. Some states like Florida have enacted laws covering transitions, but many states like New York do not have such specific laws yet. Reputable property managers handle transitions in a methodical and professional way. Although they obviously don’t like losing business, they realize that it is a part of business. We are finding, however, that far too many property managers who are either new to property management or not reputable, do not take this reasoned approach and act in a vindictive way. With the Coronavirus pandemic we are starting to see real estate brokerages who are economically challenged, trying to expand into the property management business. It is those fly-by-night management companies that board should avoid.    Read the article……………………………

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