Property Upsurge Redux!

C.S. from New Haven County writes:

Dear Mister Condo,

I would love to respond to the gentleman that asked about upsurge properties. (https://askmistercondo.com/is-it-a-good-idea-to-replace-all-condo-board-members/) They, as investors, want a recall of the entire board so they can take over the HOA complex. This happened to us here in California. We just had the vote last night.  Luckily, they did not have enough votes to oust the board.  They own 45 units here. My advice is to beware.

Mister Condo replies:

C.S., thanks for the words of wisdom. I have heard mixed reports about Property Upsurge, almost exclusively from the West Coast. I was surprised to learn of their interest in a Connecticut condominium. There is nothing illegal or unethical about buying and selling condominiums as investment vehicles. However, posing as a property management firm and then taking steps to undermine the authority of the Board for the company’s own personal gain is questionable and may be illegal. I am not an attorney but I think Connecticut’s Common Interest Ownership Act (CIOA) and new Property Management Licensure laws would make such actions illegal in Connecticut. At the very least it would be unethical behavior that would be reported to the state’s Attorney General who could take punitive actions. Perhaps our friends in California need to put similar safeguards into place to protect their common interest unit owners. Professional property management can be useful and important to running a great common interest property. Vulture-like investment practices and manipulation of the Board or elections for self-profit is frowned upon and not welcome anywhere. Thanks for the correspondence, C.S.. All the best!