K&C Helps Associations Secure Financial Information
On January 29, 2015, Carnation Realty, a property management and real estate company located in Stow, Ohio, permanently closed its doors for business. Carnation’s closing came without any prior warning or notice; leaving dozens of community associations scrambling to immediately find new management, and secure their financial accounts, records, and other files. Through Kaman & Cusimano’s coordination with the former owner of Carnation and his legal counsel, each of the communities were soon able to verify their accounts were intact and make arrangements to transition over to another management company. News of Carnation’s closing was recently reported in the Akron Beacon Journal. The story reports that investor-owners of some single-family homes that Carnation managed from them claim money is missing. Fortunately, because of quick action by Kaman & Cusimano and their community association boards, none of the associations Carnation managed have reported any missing funds.
To read more about the Carnation story, click here: http://www.ohio.com/news/local/stow-company-that-managed-property-abruptly-shuts-down-property-owners-say-they-are-owed-money-1.576323