ED Magedson – Founder
Eugene Burger Management Company5011 Meadowood Mall Way Suite 200 Reno, Nevada USA
Eugene Burger Management Company BJ Brown Eugene Burger Management Lowers Home Values in Reno Nevada Reno Nevada
EBMC (Eugene Burger Management Company), specifically the operation run by BJ Brown in Reno Nevada is becoming a pariah in the real estate community, and responsible for lower home values in the communities they manage.
Here's what's going on: Home Buyers in northern Nevada are clued in to the scam that is an HOA community and avoiding them, specifically those run by EBMC.
The deal is that Nevada statutes (NRS 116) higly regulate property management, but there is near zero enforcement. The Real Estate Division is a closed club of attorneys and real estate power brokers who, led by EBMC, have structured HOA's reserve funds into a well of profit for management companies and their vendors.
Reserves, assessments to increase reserve funds to record levels, offer enormous sums of money to "maintain" the community. The latest run of spending this money deals with landscaping to a desert motiff (xeriscaping) with the excuse that spending tens of thousands of dollars will offer a few hundred dollars in water savings.
EBMC will push for vendors that do the work, receive a kickback for their effort. There is one particular favorite of their's that is on a xeriscaping tear. Now, one would expect to see reduced landscaping charges as there is less grass to mow. Doesn't happen. For that fact, EBMC pushes for annual increases of nearly ten percent on their annual contract.
EBMC thrives on a co-operative board of directors, hoping for a weak-willed president or one with an agenda. This gives them the opportunity to rape the reserve assets under the guise of "wise management."
Board members sign on for this abuse as they are in the dark over the real purposes, their egos are stroked, or they receive preferential treatment by the landscaper.
Buyers are avoiding HOA communities as there now enough sellers privy to the dynamic. Many haven't talked about it in the past, as it was a bad memory or they didn't want to be liable for the problems they left the buyer. That, due to internet disclosure, has helped expose the truth.
EBMC's biggest asset is their legal department. They aggressively threaten prosecution, wrangle to get cases dismissed or shut down without disclosure. They will re-butt this report, this is a certainty.
Best thing is to remove them from your community. It will cost you. Any board that keeps EBMC as a management company is a liability to your home's equity. in the small world of Reno, Nevada, this company headed by Ms. Brown has connections with attorneys and vendors. Check out some of the horror stories people have regarding counsel Gayle Kern, an EBMC, Brown favorite.
Check it out. Do something. Or lose money.
This report was posted on Ripoff Report on 08/07/2013 07:33 PM and is a permanent record located here: http://www.ripoffreport.com/r/Eugene-Burger-Management-Company/Reno-Nevada-89502/Eugene-Burger-Management-Company-BJ-Brown-Eugene-Burger-Management-Lowers-Home-Values-in-1074009. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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