MY FRIEND OWNS A COMPANY

By Darlys Walker

Published December 18, 2013

 

The subject of utilizing Board Members and their company, or their friends company is one that comes up on a regular basis. There is no law that prohibits this practice, yet there are guidelines that must be followed.

 

Is it good business practice? As a Management Firm, I was recently asked why we don’t offer “Buying Power Savings” to our Associations? My response was simple; we do, when we can get our Boards to use the vendors on our lists.

 

Unfortunately, other Management Firms have created a very bad taste for many Associations regarding this practice, as they secretly have ownership in these vendors and by portraying ”Bank Saving” they have really only been self serving by double dipping and the Associations have received sub-par service or products. And not a lot of savings at that! In addition, it seems that every Board Member has a friend who can do it faster, cheaper and better! But that is never really the case!

 

The Board can use anyone to perform a service, as long as the protocol set forth in the state statute and bylaws are followed and they are using sound judgment in their decision-making. A Board should never make the decision to use someone simply because they are who they are or who they know. But instead, consider what is in the best interest of the community as a whole!


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About HOA & Condo Blog

 

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 estate

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. 

  


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   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.

   

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