You may remember that about two years ago, a Miami Dade Grand Jury was convened to investigate condominiums and the DBPR. The findings were scary. The Grand Jury found condo crime was rampant and that The Department of Business and Professional Regulation was not part of the solution, but rather part of the problem.
Now, we learn that a Broward Grand Jury has been convened for the past few months. After hearing from over 100 witnesses the Grand Jury has made the following findings:
- There has not been one case in Broward County in at least 10 years of a Board member diverting condominium contracts to a business owned by a Board member or a board member’s family;
- There is no evidence of any Broward County board member or manager being arrested for stealing association funds;
- 7% of all condominium owners in Broward believe that purchasing a condominium unit in their community was “the wisest investment of their lives.”
- Stories of fighting between boards and the unit owners are widely exaggerated and in the overwhelming majority of condos and HOAs, there is tranquility, peace and harmony in the community.
- Over 92% of owners believe that the management company and the association’s attorney do not act to protect the interests of the board and instead act in the best interest of the community.
- Most unit owners believe their monthly assessments are too low and should be raised in order that Boards and management “have more money to play with at their discretion.”
- The condo and HOA election system is transparent and “certainly more trustworthy than any real official Broward County election.”
- Board members work hard and should receive salaries commensurate with those of senior officials at publicly traded corporations.
- 3% of all unit owners believe that their Board members are doing a wonderful job and are deserving of re-election.
- 6% of Board members believe that unit owners are generally in their corner and appreciate all of the hard work they put in each and every year. And finally…..
- I wish 100% of you that read this blog today a happy APRIL FOOL’S DAY.