Why You Should Avoid Working with a Delaware LLC HOA Management Company
When the time comes for your neighborhood’s board of directors to elect a new Tampa homeowners association management company for assistance with accounting, records retention, administrative support, and more, it’s important that you understand exactly who you’re working with. At Wise Property Management, we’ve been serving homeowners associations (HOAs) in the Tampa Bay area since 1981. Our family-owned and operated company values transparency and treats clients with respect and care. Unfortunately, not all Tampa HOA management companies subscribe to the same ethical values.
In this article, we will discuss an important red flag that all neighborhoods should be aware of when shopping for Tampa homeowners association management services: the Delaware LLC. Working with a company that is licensed under a Delaware LLC can prove frustrating for both your board of directors and residents, so it’s important that you entrust your neighborhood to a transparent company with values, a company like Wise Property Management.
The Confidentiality Problem
Business owners often create a Delaware LLC to preserve their confidentiality. Unlike most states, which require an LLC to file articles of organization or a certificate of formation, Delaware doesn’t require the business owner to make the names and addresses of their members or managers available for public viewing. This is beneficial for the business owner, but it can lead to extremely frustrating circumstances for residents in your neighborhood.
Whenever a significant issue arises requiring high-level assistance, it can be nearly impossible to get in touch with a Delaware LLC since the identity of the “big boss” is ultimately a mystery. For instance, if a resident moves out and collects their security deposit refund, but the management company misspells the name of the resident, they won’t be able to cash in their refund. When they return to the neighborhood to get the issue sorted out, the on-site team may not be able to do anything. Now, your former resident is posting 1-star reviews online because the confidentiality of the Delaware LLC is making the process of getting a refund overly complicated.
Putting the Business Before the Consumer
Another drawback of partnering with a Delaware LLC for Tampa homeowners association management services is the fact that Delaware law tends to prop up corporations by offering them freedom of contract and supporting LLC oral operating agreements. Along with the Court of Chancery, a unique court with the sole purpose of adjudicating business disputes, these benefits allow businesses that are licensed under a Delaware LLC to protect themselves from a variety of claims and disputes.
Are you ready to work with a Tampa homeowners association management company that makes life easier for you and your board members and improves the value of your property? If so, submit our proposal request form today!
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Couldn’t have asked for better service. It’s NEVER this easy dealing with property management companies. Great Job! Thanks so much!
Cody Glass from the accounting department was very helpful and professional with a lot of courtesy to help me to understand and set up a new payment process.
I work with Wise on a regular basis, as the nature of our business requires quick turn around times. They are kind and helpful when you need something.
I have always received great service from Wise. Any time I need help someone always answers the phone and directs me to the right department.
My name is George Florence, I am the Board President of Villas of Northdale, and I have been a Board member for 5 years now. We have had perfect help from Wise Property Management.
Wise Property Management is the quintessential image of a professional, organized, comprehensive, deligent and knowledgeable Property Management company.
Kristy D., South Pointe HOA Vice President.
I have been working with Jeanie Hunter of Wise Property for several years now. She has handled all our Tampa Villas South association issues promptly and with great efficiency.
Ken C., Tampa Villas South HOA Vice President.
Very easy to work with and everyone is friendly. We have worked with them for a very long time and love the experience. They take pride in their work and truly enjoy what they do.