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Updated about 7 years ago,
Do I need an Attorney for E&O Claim against Property Management?
Two years ago I bought a Condo in Chicago. The property management company that represents the Condo Association said I could furnish it and rent it monthly as a corporate rental, which I have done.
Now they state I must Cease and Desist as it is in violation of the Association's governing documents.
I don't mind following their rules. However, the cost for me to sell the furniture at fire sale rates, plus lost income during this phase (plus had to turn away and refund a corporate rental for a month), plus the losses incurred as a result of having to accept a lower income model is significant.
Had they properly represented the association and conveyed the rules appropriately, I never would have bought the condo.
I assume the property management company has E&O insurance, but I don't really know.
What is my recourse?