I recently worked with a client to help him find a new home after the condo he bought turned out to be problematic. Many of the brand-new units were completely infiltrated by mold. The HOA took the matters seriously, and discovered that many of the developer's condo buildings in the Emeryville area had similar problems and generally poor constructions standards. My client became very involved in the HOA and the ensuing legal battle here in Emeryville. (And he loves his new home in the China Hill district of Oakland.)
My client, Bryan Wong, used this experience in combination with his career in commerical banking to assume a new position with Banco Popular as a liaison to HOAs on the West Coast (Officially he is "the VP of Community Association Products and Services"). I recently had lunch with him and learned a lot about new, innovative ways that HOAs can be managed and funded. I didn't know about much of this, and thought I would share it with the group.
Bryan specializes in helping HOAs run effectively and smoothly. For instance, they can arrange loans and banking services so that HOAs can better manage their money and create more affordable payment plans for the dreaded special assessments. Plus, they can help with litigation should that arise, or wisely invest the HOAs holdings to help prepare them for the future.
Most condo owners I speak with just gripe about ever-escalating HOA dues and large surprise special assessments that they cannot afford. Hopefully programs like this can make life a lot easier for condo owners.
Any thoughts?
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