Twin Arch Crossing Gets Screwed With ...

Twin Arch Crossing Gets Screwed With Admin Charges By MTM!

Posted in the Mount Airy Forum

HOA Expense Watch

Damascus, MD

#1 Feb 10, 2010
Twin Arch Crossing residents are being asked to pay administrative costs that go directly into the pocket of Michael Potter of MTM Management.
These are charges that residents need not pay and that they can receive copies of documents free of these costs directly from their HOA Secretary or Board member.
Don't let your Board get away with passing this responsibility off!
Ask MTM to reveal how much they make from other HOAs on these Admin Charges.
Question: Does MTM report these miscellaneous income to the IRS??
ASPnet

Damascus, MD

#2 Apr 2, 2010
HOA Expense Watch wrote:
Twin Arch Crossing residents are being asked to pay administrative costs that go directly into the pocket of Michael Potter of MTM Management.
These are charges that residents need not pay and that they can receive copies of documents free of these costs directly from their HOA Secretary or Board member.
Don't let your Board get away with passing this responsibility off!
Ask MTM to reveal how much they make from other HOAs on these Admin Charges.
Question: Does MTM report these miscellaneous income to the IRS??
Checkout Mike Potter's personal tax on Twin Arch Crossing residents at
http://www.twinarchcrossing.com/Documents/MTM...

Note his $75 legal document fee; his Condo resale certificate $75 fee and if you need it in a hurry. No problem. That's another $50! Thank you.
trestlestreet

Denver, CO

#3 Apr 14, 2010
How do we get away from paying this?
LeesburgRez

Ashburn, VA

#4 Apr 17, 2010
We've had similar experience. The HOA Board should stop this. These are simple papers to pull together. This guy sounds like he is building a little slush fund for himself. I wonder if he is declaring this income.

Your Board should ask MTM for a year end accounting of how much he is collecting in these miscellaneous fees. And the HOA board should have voted and approved any charges or fees collected from hoa RESIDENTS by the management company.

Mary Potter has been notorius for charging extra for email reports or any info requested.

Mary
GtownRez

Chesterfield, MO

#5 May 2, 2010
Looks like Potter of Bank Barn Court is at it again!

Terminate with this Dude ASAP is the only best advice competent community management dictates.

Ask him for an accounting of what he is collecting on a monthly and annual basis from these admin fees. Also, grill your HOA Board members as to why they either have never approved of the admin fee schedule or why they overlooked it.
No fees should be passed on to HOA residents without some Board action that pre-approved it.
Stephanie

Damascus, MD

#7 May 24, 2010
i did some research and checked with other management companies and they have a charge for this also. They indicated that by law owners are to receive the documents at settlement. Apparently these charges are not included in their management contract and are extra.
DamascusRez

Damascus, MD

#8 Jun 18, 2010
Stephanie, you have to read some of the MTM contracts. Get the real facts. MTM writes one sided contracts and any fees have to be approved by the HOA Board ahead of time. You cant pass fees on without Board approval! Not only that, but mailing some papers isn't worth $75 and more which are consistent with MTM's charges for these types of documents. An HOA officer can mail these out for free!

Do you think the management actually discloses the profit from these charges on their tax returns?

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