HOA, condo & co-op corruption and fraud roundup (Nov 2019)

Arrest handcuff fraud theft

By Deborah Goonan, Independent American Communities Debgoonan@icloud.com This month: several property managers and HOA treasurers accused of embezzlement; defendant says alcoholism played a role in his HOA thefts; sentencing of former Colorado and Virginia HOA managers and an Iowa board treasurer; owners in a Washington HOA to pay higher fees as a result of embezzlement. Colorado Former HOA Administrator gets maximum 7 years in prison for violation of public trust Earlier this month, Chief Judge Continue ReadingHOA, condo & co-op corruption and fraud roundup (Nov 2019)

HOA, condo & co-op corruption and fraud roundup (Oct. 2019)

Arrest handcuff fraud theft

By Deborah Goonan, Independent American Communities Debgoonan@icloud.com A noticeable pattern of theft this month: trusted HOA managers, treasurers embezzling money, then falsifying records to cover up their alleged crimes. Plus: one of Chicago’s condo attorneys suspended for one year. Illinois Condo attorney suspended, after he falsified financial records at his former law firm The state agency that regulates legal professionals, Attorney Registration & Disciplinary Commission (ARDC), recently suspended Michael Shifrin, of Kovitz Shifrin Nesbit. ARDC Continue ReadingHOA, condo & co-op corruption and fraud roundup (Oct. 2019)

Homeowners, tenants, and investors stuck with big HOA problems

By Deborah Goonan, Independent American Communities Debgoonan@icloud.com   When HOA-governed common interest communities are poorly managed, whether due to ignorance or malfeasance, homeowners, investors, and tenants pay the price.   NC condo owners face total loss if they cannot afford to fix Lady Marion Dam Remember the January 2019 report about sinkholes forming under Westwood Chateau Condo complex? Owners were advised to evacuate for their own safety. Following deeper investigation, thirty-two residents were forced to move Continue ReadingHomeowners, tenants, and investors stuck with big HOA problems

States enact new laws regulating short-term vacation rentals (AZ, MA, WA – 2019)

By Deborah Goonan, Independent American Communities City and town governments have been regulating short-term and vacation rentals for several years, especially with the growing popularity of online rental platforms such as Airbnb, HomeAway, VRBO, and others. The battle over short-term rentals is controversial, often pitting neighborhood residents against owners and investors who earn substantial profit sharing their home. Local regulation typically results in inconsistent, piecemeal regulations from town to town. Not wanting to miss out Continue ReadingStates enact new laws regulating short-term vacation rentals (AZ, MA, WA – 2019)