the management company we just got rid of delivered our monthly financials around the 25th of the month. Our new company has them out to us between the 6th-9th of the month.

that was just one complaint against our former company.

some others were: losing $250,000 in flip taxes--blaming the bank then finally admitting that they sent the flip taxes back to the sellers of the apartments. all but $27,000 has been recovered (one person is playing hardball and the mgt company will have to make it up).

after they were informed that they were being let go they stopped paying bills and caused a lot of ill will with vendors and contractors; because they had a board member in their back pocket they knew they were going to be terminated and promptly resigned which meant we had to keep them for 60 days instead of 30 and they demanded that extra month management fee or they would hold our records hostage.

we also found a binder with a "partnership" proposal for an outside security company to take over the security function from our in house security force.

SO THE ADVICE WAS CORRECT...DON'T ASSUME YOUR MANAGEMENT COMPANY HAS THE BEST INTERESTS OF YOUR BUILDING ...MAKE SURE YOU COMPLETELY RESEARCH (AND SPEAK TO BOARD MEMBERS FROM OTHE BUILDINGS MANAGED BY THEM) ANY COMPANY THAT YOU INTEND TO HIRE. IT WAS A COSTLY LESSON FOR US.