ATTENTION RAMBLEWOOD EAST HOMEOWNERS
LAST UPDATED 01/17/2016
Ramblewood East Condominium Dispute
The purpose of this website is to spread awareness of growing concerns that are shared among owners and residents of Ramblewood East Condominium. This website was create by individual homeowners, and is not the official Ramblewood East Condominium Association's website, nor does it claim to represent the association as a whole. Many concerned residents have initiated retaining a lawyer to represent the best interests of the Ramblewood East Community, and a thorough investigation in currently being undertaken.
This website is for the general population of Ramblewood East Condominium residents containing general information about the current board members' actions. The attorney retained to represent the concerned unit owners is under the belief that the current board is involved in fraudulent and illegal activity. When the attorney retained to represent the unit owners requested financial documents from the board, they refused to produce the relevant documentation and instead used the association's attorney to withhold information. It is our belief that the current Board is trying to hide something, otherwise they would not hesitate to provide unit owners with the information requested. Whatever the case may be, this lack of transparency and authoritative control is not welcomed here in our community. In addition, there have been multiple complaints filed with the Department of Business and Professional Regulation (DBPR) that are pending further investigation.
State laws that regulate condominium developments generally are geared toward serving the best interests of smaller developments consisting of less than 100 units. A typical elected board of homeowner volunteers may within their capacity govern developments of this size. A typical elected board (currently 7 people) would easily be overwhelmed working on a volunteer basis to govern a community the size of Ramblewood East. This lack of managerial capacity has the potential to lead to mismanagement while opening the door for corruption and fraudulent activity. (PLEASE SEE FINANCIAL SECTION ABOVE)
THE RENTAL PROGRAM IS LOSING MONEY AND OPENS THE DOOR FOR THE BOARD MEMBERS TO FINANCIALLY BENEFIT FROM IT, AS HUNDREDS OF THOUSANDS OF DOLLARS HAVE BEEN VANISHING BETWEEN THE RENOVATION COSTS AND REPAIRS OF THE UNITS WITHOUT ANY COPY OF RECEIPTS, CONTRACTS FOR REMODELING, OR TRANSPARENT BOOKEEPING.
Page 15 of the Financial Statements provided by the current board show the total expenses for the rental program as $463,790.00. This amount includes 2014 real estate taxes of $110,113.00, $151,304.00 for A/C repair and maintenance and $215,361 for rehab. According the public record, as readily verifiable on the Broward County Tax Appraiser website, the total 2014 real estate taxes for the units currently owner by the RAMBLEWOOD EAST rental program amounts to $153,951.84 (only 151 of 155 units could be identified in our calculation). In addition, there is no information about the rental program paying monthly maintenance into the operating account for the units owned, as we homeowners do each month. The total amount of maintenance for the units in the rental program alone, would be about $600,000.00. Given these numbers alone, and without even taking into account a variety of other expenses that were not reported such as: maintenance for the rental apartments, office expense, salary for employees and office work for the rental apartments, all of which, to our understanding, appeared to be claimed on Ramblewood east homeowners association's expenses and not on the rental program's expenses, it appears that this is a means to manipulate the accounting to show that the rental program is profitable. The rental program's expenses only for maintenance, property tax, and renovation, would exceed $1.1 million. The current board claims to be making $1,053,359.00 in rental income. Without having to look very far into the numbers reported, it is evident that the rental program is losing money.
Further, the amount of our money being used to "maintain" and renovate these units, is far beyond anything reasonable. Outsourcing the appliance, A/C, plumbing, and electrical maintenance and repair including parts and labor to a maintenance contracting company such as Pride or Total, would cost about $250 per unit, equaling $37,500 for 150 units per year. However, the current board reported to have spent over $150,000.00 for the A/C alone. It is extremely unlikely that every unit required a replacement A/C unit. Additionally, there are items on page 15 of the financial statement where potentially costly and vital items are intentionally left blank, making it unclear and impossible to calculate the total expenses for the rental program.
Actions Currently Being Taken: