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Forums > Homeowner Association > HOA Discussions
Subject: 'Balance Forward'
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Author Messages
LeoZ
(New Jersey)

Posts:3
09/04/2007 6:53 PM  
The NJ condo development I live in changed management companies several months ago. The new management company began sending monthly statements. The statement contained a "Balance Forward" amount. I contacted the accounting department asking for a specific description of that amount. I did not receive a callback. I sent email to the company and receive a response from the president. He referred me to the accounting department. I have received 5 more monthly statements and, with each one, the Balance Forward changes.

I'd appreciate any advice on how to get the information I am requesting.

Thanks
JosephW
(Michigan)

Posts:879
09/05/2007 11:36 AM  
Start by giving a copy of the statements and your queries to the association Treasurer, with a formal request to the board to clarify the accounting and to issue a directive to management to respond to your questions.

Joe
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LeoZ
(New Jersey)

Posts:3
09/05/2007 3:19 PM  
Thanks, Joseph

I'll try that.
JoeW1
(New York)

Posts:728
09/05/2007 6:58 PM  
Posted By LeoZ on 09/04/2007 6:53 PM
The NJ condo development I live in changed management companies several months ago. The new management company began sending monthly statements. The statement contained a "Balance Forward" amount. I contacted the accounting department asking for a specific description of that amount. I did not receive a callback. I sent email to the company and receive a response from the president. He referred me to the accounting department. I have received 5 more monthly statements and, with each one, the Balance Forward changes.

I'd appreciate any advice on how to get the information I am requesting.

Thanks




LeoZ - You get a bill each month with the amount you need to pay. Balance forward means you owe something? According to your post I read it that you have had this balance now 5 months. do you pay the entire payment due amount each time? Call the management company and speak to a person, ask for the Property Manager of your association, be firm and request you get this resolved immediately. Follow it up with an email written as a letter as to your understanding of the resolution and also sent the letter certified mail return receipt requested.

JoeW1
NNJ
GloriaM
(North Carolina)

Posts:829
09/07/2007 4:03 PM  
Leo:

It could also be you are incurring late fees on the balance owed as well. Only your MC can give you the details.
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Forums > Homeowner Association > HOA Discussions > 'Balance Forward'


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