Can Unit Owners Completely Opt Out of Account Statements?
Dennis,
I have not been getting a monthly account statement since last year, neither postal mailed or emailed.
We are a condominium association with greater than fifty units, we are assessed monthly (but could pay ahead if desired, which I have not), and we normally receive a mailed statement or a digital/PDF statement via email (if we opted in to receive the statement that way, which I did).
Before the property manager or board of directors places blame at my feet for “doing something wrong” or “hitting a button by mistake” does ARS 33-1256 M ever provide for a unit owner to completely “opt out” of receiving account statements?
Our community portal was recently “upgraded” and the toggle button option for Statements reads “Inactive” – there is not an “active” option.
Nonetheless, I didn’t change or modify my eStatement preferences, my email and address remain the same, I am not in collections or arrears, so is it soley my responsibility to ensure receiving statements?
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PJ,
The law requires the association to provide paper account statement for every billing period. The law also allows homeowners to opt out of receiving paper statement and receive those statements via email. There is no option in law that allows any homeowner to opt out of receiving the account statement at all. For the record I opposed this legislation with everything that I had . This was nothing but a mandatory subsidy to management companies by allowing them to charge every association for this mandatory requirement that was drafted and pushed by AACM directly. They had the sponsor and pushed their money making scheme. The problem is there was a revolt from the actual management companies after the fact because of the work of providing monthly statements for 3 million homeowners on a monthly basis. AACM’s response was for all management companies to advise their board to change their billing program to quarterly to save cost.
The association and the management companies based on the LAC idiots from AACM cannot ignore the law and not supply monthly account ledgers for every homeowner whether they are current or not. When stupid legislators listen to stupid lobbyist than this is what homeowners and management companies get stupid laws.
Your association must provide you an account ledger statement in either paper or email version each payment period.
Dennis
Thanks for the background on the legislation that passed, your common-sense battle against it for the good of all, and your quick reply to my post.
Just to be clear, would a “historical payment report” meet the criteria of a monthly or quarterly account statement?
I just hope I’m not the only unit owner not receiving account statements by mail or email delivery. Our association is certainly being charged monthly for account statements to be sent out. But, since my board doesn’t review bank statements against monthly check register reports and reconciliation reports, and since no curretnt board member has access to our association operating/reserve bank accounts (only the property manager does) I wonder if we could potentially being charged fees for monthly statement handling that no one is actually getting.
PJ
From what you describe your association is in grave financial risk. You board has a duty to the owners to oversee manage and protect the financial assets of the association, and cannot abdicate that duty to the community management company. The individual board members if they fail to protect the assets of the community can be held personally liable for and breach of that duty. No association should ever not have current board members as signatory authority over all association accounts, and no board should ever not review and approval all financial transaction on at least a monthly basis. As you mentioned, you association is most likely billed for the billing statements and account ledger shipments every month but if the community manager is not actually providing those statement that is embezzlement of association funds and criminal. Failure of the association board to recognize this activity and put an end to it is breach of duty to the homeowners.
What you referenced would be an acceptable account ledger if no unusual charges are applied. You should be able to see your recent payments and any charges applied to your account by the association for any reason.
Dennis