Property Management Company Sued for 2nd Time in NY


Choosing the right company to deliver the kind of property management Miami Dade trusts is an important decision that can have serious consequences. For the second time in the last decade, a property management company is in hot water for defrauding clients by leasing dilapidated properties and bilking them out of thousands of dollars. The case is a cautionary tale for when dealing with property management companies Miami, FL turns to for handling their rental properties.
The State of New York is suing Vision Property Management and its CEO, Alex Szkaradek, for allegedly operating an illegal lending business using predatory subprime home loans just a few years after similar accusations arose in Wisconsin. 
GIC Asset Management is a proven community leader providing commercial property management Miami relies on for complete, reliable services based on a culture founded on core values of trust and honesty.

Financial Regulators Crack Down on Unlawful Mortgage Lending

It is never a good idea to attempt to defraud clients who depend on honest, fair business property dealings. To be accused of doing it a second time and in a state that actively regulates the mortgage industry takes a special brand of hubris. That is what New York is alleging Vision Property Management has done.
It is especially important to guard against these kinds of companies and to look to GIC Asset Management for the type of reputable property management Miami has trusted for years.
The New York Department of Financial Services and New York Attorney General Letitia James are accusing Vision Property Management of running an "illegal, unlicensed mortgage-lending business profiting from predatory subprime home loans at the expense of some of the most vulnerable New Yorkers." The state is claiming that the management company defrauded dozens of clients by leasing rundown, distressed properties with high-cost interest rates, and making the clients pay for repair and renovation costs on top of it.

Customers Tricked into Subprime Loans

The lawsuit claims that Vision Property Management used the romantic notion of the American Dream to trick clients into signing subprime loans without fully disclosing the properties' horrific conditions and a large amount of repairs that were needed to be completed.
According to the state, the company skirted consumer protections and regulations to trap the most vulnerable potential homebuyers, including the elderly, those who are disabled, or those living on fixed incomes. High-cost subprime loans were made for essentially inhabitable homes that needed thousands of dollars of work to make it livable.
To make matters worse, the state alleges that the company would routinely evict clients after they had invested money in repairs without the foreclosure protections they are entitled to receive.

GIC Providing Honest Services for Property Management Miami Dade Trusts

At GIC Asset Management, industry specialists offer reputable, fair services for local and international property management Miami trusts to get treated with honesty, integrity, and within the laws and regulations that are designed protect buyers and leasers from the kind of predatory practices displayed by Vision Property Management and others like them.
Contact GIC Asset Management today for complete information on the wide range of services for property management Miami Dade has relied on for many years.

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