Conflicts of Interest

By Darlys Walker

Published March 20, 2013

 

Eric is absolutely correct. Now that elections are over and new Boards are in place, Complaints are abundant! However there is one complaint that he forgot to mention....

 

Recently, I was contacted by two separate Associations concerned that "Bulk Investors", with majority ownership, were controlling the outcome of elections. By voting themselves and one of their employees on to the Board, all while hand picking the other candidates to be elected!

 

Further to this, both "Bulk Owners" voted to waive reserves and lowered the budgets. Can you say conflict of interest? After all, these actions affect their purse strings.

 

This begs the question; Can Homeowners take any action against the "Bulk Owners"? The answer is probably no. But, I'm not an attorney and therefore suggested both of these individuals seek legal counsel. At the very least, I would think the Homeowners would be able to make a case against them for not fulfilling their fiduciary responsibility to the Association.

 

Have you experienced this? Were you able to take corrective action? I would love to hear from you!


 
All fields are mandatory!

Select your rating:           

 

 

characters left

Powered by Citricle

Darlys Walker

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.  

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

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


loading