HOA Fraud

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My HOA states that there are no reserve funds to replace stairs and decks in our complex (110 units). They charged a $6000.00/each Assessment that we thought were going for repairs and replacements. 3 of the board members made repairs on their properties then sold and left and of course quit the board. The Fire dept and City of Arvada are ready to condemn the units so supports have been put in place. Now the mgmt company states 3 options. Raise our HOA Dues from $270.00 to $600.00/ month or Charge each unit $110,000.00 for repairs or that we should sell to a developer. I’ve been paying dues for more than 20 years this sounds fishy to me. Do we have any options?
ACCU Inc. – Mgmt company
Arvada Gardens Condo complex
City of Arvada Colorado

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Posted by Anonymous
Asked on March 12, 2022 12:11 pm
17 views
Public question
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I can see why you may be upset. You may look into a forensic accounting of the HOA books to see if there has been fraud in the past. You may want to overthrow the current Board and elect a new Board. HOAs are powerful in Colo. But, the board must act in a fair and proper manner and only have the power specifically delegated to the Board by the controlling documents. We represent homeowners fight bad HOAs. As you can see this gets complicated and every case is very factually specific. I recommend that you schedule a free case assessment with one of our attorneys to discuss your specific facts and options. Just call 3-3688-0944 or schedule online at https://go.oncehub.com/rhbooknow.

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Posted by donald@robinsonandhenry.com (Questions: 0, Answers: 298)
Answered on March 14, 2022 9:34 am
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