New Yorkers can learn a thing or two from the sunshine state. Thankfully for New Yorkers but not so great for Floridians, these things involve what not to do.
Floridians with issues: What New Yorkers can learn
Florida is having a problem with condo association fraud. According to a recent report in the Daily Business Review, 2,000 complaints of condo association fraud were registered with the state department in 2015. The large number of allegations has led lawmakers to push for reform in an effort to crack down on the practice. While Floridians navigate these issues, New Yorkers can learn from their mistakes. Some of the top lessons Floridians have learned from this fiasco include:
- Practice good record keeping. Condo boards can benefit from accurate record keeping. Having clear records of meeting minutes and finances can help to curb any allegations of fraud. Update this information regularly and make sure those who should be in the loop are kept informed of the board's actions.
- Take voting seriously. When voting for new board members occurs, make sure to check that those who cast their ballots are legitimate voters. Double check those who come to vote with a list of qualified voters. It is also wise to disregard any votes that do not follow proper protocol. This could include votes that do not have an acceptable signature or are cast by ineligible voters.
One of the top complaints for fraud involves board members "stealing" elections. This could be lucrative for the unscrupulous, as board members are in charge of how the funds gathered by the condominium association are used. The election process can be safeguarded in a number of ways, including using legal representation to conduct the election.