This is one of the most complex HOA’s we have ever managed. The complex is over 48 years old and in those 48 years, nothing has been doing to preserve or conserve the building for the future.
We first met with the Board back in 2016 when they were in search of a new property management company in the Los Angeles area. There was a lot of issues.
The transition of this HOA was not simple and by far one of the most difficult transitions that we have ever had. The HOA was 200 thousand dollars in debt to contractors, they had about 40 thousand dollars in LADWP bills, their accounts receivables at 165 thousand dollars and to make matters 2 of the buildings had a massive mainline pipe burst which caused flooding in multiple units. .
THIS WAS A TASK WE WANTED TO TAKE ON. WE WANTED TO PROVE THAT HARD WORK, DEDICATION, PERSISTENCE AND PATIENCE WOULD GIVE US SUCCESS AND STEER THE COMPLEX TOWARDS A GOAL OF RENOVATION AND MODERNIZATION THAT EVERYONE WANTED BUT HAD NO IDEA ON HOW TO ACCOMPLISH THIS TASK. WE KNEW FROM DAY ONE WE COULD DO IT IF ONLY GIVEN THE CHANCE AND FROM WHAT I SEE WE ACHIEVED IT.
David Gazarov, Co-Founder of M Group