Beware of Homeowners’ Committee Misusing Housing Maintenance Funds
There have already been similar news cases, especially with the current sharp drop in housing prices, which has enabled people with ill intent—organized groups (not necessarily outsiders, though they currently make up the majority)—to band together and exploit the system.
They secretly and swiftly form the owners' committee, taking advantage of the fact that most homeowners are not present or feel detached because the issue doesn't directly affect them. Then, they either install their own property management company or a collaborating one to hike property fees. They siphon off the housing maintenance fund through various pretexts—using substandard materials while inflating invoices, swapping out quality materials, etc. Once the scheme no longer yields profit, they withdraw, leaving behind a depleted community where facilities are too broken to repair, causing the property to rapidly decay.