Small HOA in S. Jersey is mismanaged and misuse of funds

[RM Kanz]

Hi, We are investment owners of a townhouse in South Jersey, which is a part of an 8 unit HOA (4 side by sides). We purchased about a year and half ago, fixed it up and have tenants in the property. The HOA board is in shambles, the treasurer had multiple strokes and for many times cannot hold a pen to write checks. The president and vice president, decided on their own to pay a painter 9000 to paint 2 of the buildings without notice or approval of any of the other units. The VP wanted to paint his building b/c he was trying to sell it. He painted it and sold it. The painters did not complete the work, there was also an outstanding letter from the insurance company which stated that stucco needed to be repaired, so now those units need to be repaired and repainted. Of course they paid the painters in full.

This is their way.  They pay everyone in full prior to any work being done because they do not feel like dealing with it. Now there is a tree which roots are coming out of the ground behind my unit and they are giving me a hard time saying we have other priorities.  

They are trying to push a new president in and keep the old president (who was there during all of the old misuse) as the treasurer!  There are only 8 units and they have convinced at least 4 to go along with them.  I cannot see how they do not see or care where their money went, however everyone only has their own interests in mind and only want to get their units painted (which cannot be done until the spring anyway).

We have been going back and forth via email, in which it is becoming very clear to me that they are all in cahoots with each other and there is some serious misuse of fund before.  I have asked for the financial records. but I need ideas on what other recourse there is. 

I am trying to get in there as treasurer b/c at this point I do not trust anyone with this.  I am just worried that we are being steamrolled.

Thanks,