Should MF Owners have full access to MF operating accounts?

[Karl Kauper]

Per David Lindahl ("Multi-Family Millions"), multi-family property owners should insist to their PM's that they have full access and signing authority with respect to the property's operating account. This way, if there is ever a contentious dispute between the owner and the PM, the owner can remove his/her money from the account immediately. I'm curious to hear the opinions on this from the BP community and what your own experiences have been. Currently, I personally do not have full access or signing authority with respect to my own MF's operating account. I'm fairly certain that my PM would push back on this if I asked. In case the state matters, my property is in Ohio.

[Charles Seaman]

@Karl Kauper Having full access to the operating account is the best way to go for the exact reason that David Lindahl wrote about.  Certain states will not allow for it and certain property management companies will be reluctant to provide it.  If it's a state issue, there's probably not much that you can do about it (short of investing in another state).  However, if it's a property management company issue, then you're likely better off finding a new property management company because things are already starting off on the wrong foot.