'Balance Forward'

Started by LeoZ • 4 replies • 1626 views

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LeoZ (New Jersey)
Posts: 3

Posted:

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: 882

Posted:

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

Posted:

Thanks, Joseph

I'll try that.

JoeW1 (New York)
Posts: 728

Posted:

Quote:

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

Posted:

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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