Forum Archive: Posts by: jb1228

We live in a small (5 unit) co-op, and we don’t use any kind out outside management company. The only problem is this — although we’ve lived here for 3 years we have never seen any kind of financial statement other than year-end tax documents. There is 1 tenant who is in charge of keeping track of maintenace payments, bills, banking etc., and there’s no other review of any of the finances. Does this seem odd to anyone else? I get shot down whenever I suggest a more formal accounting system (i.e., monthly statements or even an outside accountant). Am I being crazy or is this a bad situation? Does anyone else have a similar arrangement?