The new board is at leastcommunicating with the owners. Major problems have been found in parking structures and the grounds. No money available to fix them they write. According to Zillow units here decreased in value last month. Unheard of in California. Mine fell 1800$. Less units available to buy yet nothing is closing since early summer. Weird.

Ouch! Sounds like you will have special assessments to pay for those items needing repair. Hope your auditors find the money hidden by the previous board, otherwise you'll have to sue them & go after their personal assets.

Update: New board started out fine but is losing steam. Too many senior citizens.Complex too big (292 units) and sprawling for 5 oldies to manage. Lordon mgmt is back to old tricks. Totally ignoring residents issues and hoping they get tired of calling. Pets are out of control with feces all over the place that stink up the grounds and barking at all hours that echo throughout the complex. Units are selling but must be in A1 condition to sell. No major issues have been taken care of at Lakeridge which I know will lead to a special assessment in the early summer. My guess is 5 grand.

Gee, your old management company was NOT fired?! I would have thought that was a priority for addressing half, if not all, of the problems. BTW, were the two reserve fund accounts ever found, and what happened to the money? Hopefully you can sell before the special assessments are implemented this Summer. I wish you good luck. Keep me informed?Ÿ‘Œ