This one happened right under my nose here in the Denver area. The Denver vicinity, as some of you know, is home to one of the biggest HOA embezzling cases in the country. A management company stole homeowners blind in a largely minority community. But these homeowners were smart enough to catch this jerk. The bitterness, though, never really goes away.
Now there’s another incident, this one in the same part of town. David W. Martin, PMG Enterprises Inc., has had to surrender his state license to manage Homeowners Associations. He may be the first to do so under Colorado’s new licensing law. The law isn’t perfect. It has very few teeth and some appointed state officials who are really out of their league.
For the record, here’s a link to the story in the Denver Business Journal.
Opps, there goes the argument that PROPERTY MANAGERS should be licensed. Proof enough the license didn’t help the homeowners in the HOA one bit. They still got ripped off by the thief that was paid to be their property manager. Yep, HOAs are a thieve’s paradise!
Licensing of any profession is so much about prevention of crime and malfeasance, as it is an image builder for the profession. It gives the appearance of setting standards.
One advantage is that, if licensing is required, and revoked for wrongdoing, at least that prevents future clients from being harmed.
It’s not the answer to all HOA woes, but it doesn’t do any harm either.
Giving is license to a property manager is about the equivalent of putting lipstick on a pig.
It may look good but that’s about it. This story is proof the license was worthless. More than anything it probably gave those who hired this scumbag a false sense of trust.
Not to mention licensing will come from the Realtors or CAI. What does that do besides put more money in their coffers so they can gain more control over the homeowners with their control over the legislators.
It makes zero sense to me.
Florida has required licensed managers for several years, and look at the trouble in the Sunshine State! It has not helped prevent problems.
What makes zero sense to me is to continue to allow HOA management companies to work without a license that can be subject to fines, suspension and revocation…and impliment substantial regulations – those of which are currently lacking due to CAI’s involvement with legislators. One state will do it right one day. Then the embezzlers will no longer be able to do HOA management ever, anywhere.