East Coast Property Management

About five years ago, my neighborhood decided to hire a property management company to help with the financial needs and day-​to-​day upkeep of the property. My neighborhood is small, consisting of condominiums and lofts, with many of the residents being young professionals. The neighborhood is relatively new, and most of the residents take pride in the neighborhood.
ECPM made plenty of promises regarding how they could improve the neighborhoods financial situation and how they could help the HOA run more effectively when they were first contacted. Once the contract with them was signed, they immediately increased our HOA fees by fifty bucks a month. Maintenance issues were never immediately resolved, including fixing the security gate, the equipment in the gym, and the neighborhood trash receptacle. The property manager was very difficult to get ahold of, and always made excuses as to why some things couldn’t be fixed. He never visited the property and was definitely not hands on when dealing with the community and our concerns.
We decided to use ECPM for almost two years, and then decided to hire another property management company. It was at that time that it was revealed that the neighborhood was more than 35K in the hole and had no reserves saved. Much of this was caused by a handful of people never paying their HOA fees and of course ECPM never took any action against those who were not paying.
Most of my neighbors cannot figure out what ECPM did to ever improve our neighborhood. In fact, we think that they completely ripped us off. If you are looking for a property management company, stay far away from East Coast Property Management. They are nothing but a ripoff.