WHO HOLDS THE BOARD RESPONSIBLE FOR ACCOUNTING FOR SPECIAL ASSESSMENT FUNDS?

By Darlys Walker

Published June 15, 2016

 

South Florida seems to have some of the largest and most frequent special assessments in the state of Florida. It is unclear if the need for these is a result of lack of reserve funds due to waiver, poor maintenance/poor-management, overspending by the board or a combination of all of the above. But when these multi-million dollar assessments are passed and the money is collected, who is ensuring it is properly spent? Well you’ve heard the old saying, “It’s the fox guarding the hen house”. It’s like that. 

 

Time and time again, we find the accounting records for these huge sums of money seems to be haphazardly prepared and in some cases hundreds of thousands of dollars, if not millions, just go unaccounted for. And the more amazing thing is, no one seems to care! Don’t believe me? Here is case and point. Just visit

Is this the condo from hell? . My favorite part, when the reporter asks, “What and how these missing funds could have happened”, the CAM Managers response, “mismanagement”. 

 

Let us hear your stories of misspending by your board.

HTML Comment Box is loading comments...

 

 

  
Darlys Walker, Founder and CEO of Condominium Concepts Management, Inc. (CCM), is recognized for her straight talk, subject matter expertise, and valued insights regarding real  

state management, leasing, and HOAs. Her company serves a diverse portfolio of properties, from 16-units up to 600 as well as large mixed-use developments.  

 

   From its beginnings in 2000, CCM has become a well-respected asset manager and now works with over 100 associations with 16,000 units served by over 300 employees. Darlys and her team deliver resources and responsiveness through six regional offices - in Orlando, Miami, Jacksonville, Charleston, Nashville and Atlanta.

  

   Darlys Walker is best known for her passion and precision, understanding that the only difference that matters in today's demanding marketplace is service delivery ... doing what is promised and what is right. She knows that every community serves two masters ... the property owner/developer and the resident/homeowner. "If we are not equally responsive to both, we are not doing our job," she states.  

 

   Her clients say it best: "Darlys really knows her stuff" ... "at the top of her profession and it shows in the caliber of her clients" ... "delivers quality resources that match up well with needs and expectations that are really rigorous."  

 

   She is a licensed Real Estate Broker in four states, holds an Associate's Degree in Marketing and has earned the Accredited Real Estate Manager designation from the Georgia Institute of Real Estate Management. Also she is one of few certified as a Lead-Based Paint Abatement & Removal Trainer in Georgia.

  

   Darlys Walker and her team have been selected to manage the condominium conversion process and day-to-day operations for many of the Southeast's most high-profile condominium communities including luxury high-rises, mid-rises and garden-style homes. Most recently she has been recognized as an expert in 're-versions' of communities from condominiums to leased homes, as well as repositioning projects. A visionary and a tireless perfectionist, Darlys demonstrates hands-on leadership, working individually with each client and staff associate to achieve defined business outcomes and satisfaction.  

  

  For more information about Darlys Walker and Condominium Concepts Management, Inc. please visit www.condominiumconcepts.com.

Sign up for Email Updates
Email:  
For Email Newsletters you can trust