Are Condominium Management Companies honest ?

[Rodney M Kemp]

Hi Everyone,

I am new here guys. I'm from Ohio and happy to be in the warm sunshine of Phuket. We getting close to buying a rather large condo in south west coast Phuket. We have befriended a few co-owners in the project. They are tell us the Management company is "nicking" from the co-owners in a few soft ways. My question here is are these so called "Management Companies" serving the co-owners or really just themselves ? Is it rude for me to look at the condo management financials and ask questions about the vendors ? I noticed when i went to research the management company online there is very little information on them at all. No good or bad reviews. Like they don't exist. Is that normal ?

[tolsti]

the monthly financials should be posted on the notice board for all to see on or before the 15th of every month and may well show the accumulative position since the last end of financial year. 

 

There are several well, even internationally, known management companies managing buildings on Phuket,

[LivinginKata]

These management companies are financially looking after themselves. Universal rule. 

[Old Croc]

Does the condo now exist or are you buying from plans?

Big difference when risking your money.

[NYGuy816]

Depends. I think most are pretty reliable but best to do your research.
 

[DrDave]

Often times, the management company is an extension of the developer for the first few years.

In the event that the developer directly or indirectly retains a majority, or significant number of units as rentals, then the management company will be serving the interests of the developer and not necessarily the individual owners. It's not unheard of for a management company to "take a little extra" from the individual owners in order to reduce the developer's ongoing costs.

[Rodney M Kemp]

Anyone hear of a company called GreenHill Property Management ? I tried to find a website but the only thing i found was a real estate website www.greenhillphuket.com  when i looked them up in google. I find it strange a management company wouldn't have a company website.