Built in the mid-1980's, Preston Village (aka Village on Preston) is a condominium development in Far North Dallas just southwest of the intersection of Frankford Rd. and Preston Rd.
This condo development includes single-family detached zero lot line homes (Patio Homes) on the West side of Windflower Way and four-plex structures with carports on the East side of Windflower Way (Garden), as well as true single family homes built a little later ("Village X").?
This development is comprised of three separate homeowner associations:
- Garden Homes
- Patio Homes
- Village Ten
In 1992, owners in the Patio homes took total control by consolidating all three HOAs under a Master Association called Preston Village Master Association, Inc. Each entity, (Village, Garden, Patio, Village Ten, and the Master Association) has a set of documents, rules and regulations and bylaws.
Since 1992, the Board of Directors of the Master Association has been controlled by owners of the single family homes. Rarely have they allowed owners of the four-plex condos on the Board....for good reason.
By their design, upon taking control of each HOA via a "Master Assoctiation", most of the monthly dues are paid
to the Master Assoctiation that (in theory) pays all expenses according to a formula that is in favor of the Patio owners.
More importantly, the 1992 takeover by the Master Association allows the Board to commingle monthly and special assessments into one bank account. Of course, the greedy and power-hungry Board uses this to their own benefit by paying in full for all repairs to the Patio homes while slapping the Garden condos with repeated Special Assessments year after year.
Since most of the Board members have held onto their positions for many years through elections that do not follow the bylaws of the HOA (rigged), they continue to steal money from the other sub HOAs without fear of being caught.
In Texas, even the Atty General will not investigate HOAs....you must sue them to bring them to justice. Even when you sue, the HOA's insurance company covers any settlement.
Of course, insurance won't cover the HOA if the Board commits a crime!
Therefore, Preston Village HOA may not survive the multi-million dollar lawsuit now pending against it in Collin County District Court as of January 2013. If you are an owner in this HOA or looking to purchase a home here, you are urged to perform due diligence to protect yourself from the fraud and corruption.