Management rents all common space to his own affiliated companies

Questions › Category: Property Management › Management rents all common space to his own affiliated companies
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judyksp asked 2 months ago
What can we do if the following is happening:
  1. management rents all common space at an extremely low price to his own affiliated companies and refuses to allow anyone else to rent the spaces at reasonable rental rates? on top of this, our JMB has to maintain these common space using the funds we, homeowners, pay for maintenance and sinking fund. Is this considered a misuse of authority? 
  2. we are unable to get minutes of any meetings and proper accounts of all expenses from our JMB. Is this correct?
 
2 Answers
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JMB Support Staff answered 2 months ago
1. if you all have such issues, recommend you all join in the committee and then redo the whole procedures. 

2. you all can complain to the COB, by law the meeting minutes have to be displayed in the notice board after the committee meeting. 
judyksp replied 2 months ago

We are not able to join the committee because all the members are from themselves. They are the developers as well and own the biggest share units, so when it comes to voting, we always lose out and cannot get any actual homeowner to be a committee member.

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JMB Support Staff answered 2 months ago
hello, i am so sorry for what you have experienced. This is the real complicated issues which have to resolve by your owners group.  As long as law complied, nothing can be done unless the owner is unite and getting greater majority shares than the other party. 
judyksp replied 2 months ago

Thanks for your reply.

It is a very complicated issue and sad to hear that the law does not actually protect owners but rather the developer in this case just because he has the money to ensure that he will always get the majority shares.

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