Letter to the Board of Directors of Aquarius by Z. and Z. Bluband     September 22, 2015

September 22nd, 2015

To:      Board of Directors (BOD)

          Aquarius Condominium Association

From: Zakhary and Zinaida Bluband, owners unit 902N

On September 21st, 2015, we received a delinquency letter from the Association Accounting.  Since the nature of delinquency was not explained, we figured the amount represented the monthly maintenance fee plus the monthly installment fee for the 1st special assessment that is not due until the 15 of each month.

Together with the many other owners, we received this type of the letter in June.  These letters were sent to the wrong people.

This time, the letter dated September 17, is not only annoying, but removes any faith in the reliability of the services provided by the accounting firm and the BOD role in the process of collecting actual delinquencies.

Our monthly maintenance fee is automatically paid by the Bank to the Aquarius account on the 5th of each month and we have a bank transaction records to prove it. Our monthly installment of the 1st assessment (due date on 15^th), was paid on September 14th and we have copy of the check with the office stamp dated September 14.

Sharma & Associates, Inc.  contract requires the firm to issue monthly late letters in accordance with the Association Policy.  What kind of policy did the BOD provided to this firm?   Why do they send late letter dated September 17th (obviously prepared few days before September 17) for the payment that is not due till September 15th?  Does anybody know what is going on?  The section 5 e) of the Aquarius by-laws states that ” the treasurer shall have custody of all of the property of the Association, including funds, securities, and evidence of indebtedness .”  We expect the association Treasurer to perform this obligation and to insure that the evidence of indebtedness  is  applied to the correct indebtedness and the accounting firm follows the Association policy in this regard.  The fact that the late letters have been sent to the wrong people for the payments that have been timely paid, makes us question the trustworthiness of the collection process used by the BOD.

We already know that the late letters have been sent to the wrong parties, we do not know if they have been sent to the real delinquent owners.  The Memo posted by the BOD states that as of September 1st, 2015 there are 25 delinquent units.

Considering that there are delinquencies for the  maintenance fee,  1st special assessment and by now 3 payments for the 2nd special assessment, it is not clear what 25 units  delinquencies mean. Is it for the 2nd, assessment?  If yes, is it for June, July or September? Is it for all assessments and maintenance fees.  This number is absolutely meaningless, unless the details are explained.

We request the BOD to investigate the current policies and procedures used by Sharma & Associates, Inc., and to address in writing all current problems with the collection process and the late letters addressed to the wrong owners.

We also request this letter to be placed on the Aquarius Website.

Zakhary and Zina Bluband (signatures)

Related post:

• Collection Procedures Established by the BOD    (August 2015)

.o0o.

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