This company is the WORST, most HORRIBLE den of thieves I ever encountered in my life. Enough said. Hopefully you never find yourself dealing with them.
I have the unfortunate luck of having them manage my Condominium in North Bergen. Here is what they did to us:
The co-owner, Kim Smith, is a very RUDE, two faced lying thief. Her scam is to give special favors and breaks for the Board members (who in the case of my building are bought off on the cheap), than have the companies she controls, Landscaping, Snow Removal, Fire Protection, and Attorneys overcharge for services and spread the condo owners money around. They manipulate the voting so that these Board members can not be removed from power.
For example. There was a leak in the roof that created some small ceiling damage in a top floor apartment. Naturally, Preferred sends the company to fix the ceiling. They are suppose to have insurance, but they never do. This contractor while fixing the ceiling set off a sprinkler head. Water poured throughout the entire building, creating $155,000 in damage, displacing 3 families for over a month. And since the contractor had no insurance, our building insurance suffered the loss. And here is the real slide of hand. Preferred did not get any bids for the work, they just sent there usual contractor! So who's to say the sprinkler head wasn't setoff purposely, so that Preferreds contractor can make $155,000 and they split up the money???
Preferred was paying there Landscaper friend $500 a month to maintain the landscaping. That was news to me because either the Landscaping was Horrible, or I would see other condo owners out there with rakes trying to make it look decent. When the bills were checked, Preferred paid over $10,000 to the Landscaper and the guy didn't do his job at all! When asked to sue him or send a letter to get our money back Preferred just IGNORED the request!
Snow removal is the same thing. They send there company who overcharges, building is over budget and owners get a $4000 Assessment! This is the same company who failed to salt the front of our building properly, resulting in a slip and fall lawsuit. Our building settled for $90,000 and our insurance took another loss! And do you think the contractor was sued? Nope! Preferred threw us under the bus and never revealed the contractor. And they hired this contractor again to continue doing our snow removal. Why? Because he is part of the scam, and Preferred could care less if someone falls and we get sued. As long as they make there kickback!
Attorneys. They have one attorney in Hackensack who they use. He charges your Association and does whatever Preferred says, not what is in the best intrest of the building association who is paying him. INCLUDING threatening owners who question Preferred!! Than the bills get paid by our Association, because Kim at Preferred has our checkbook!!
The list goes on and on.
Preferred also manages CityView condo in North Bergen, and last year a child fell out of a 3rd floor window because there weren't any window guards installed. Preferred failed to ensure they were installed as per state law! Google it!
They have been sued numerous times for failing to do there jobs and people getting hurt. How can they still be in business? You just have to shake your head and wonder...
BE WARNED. Stay clear of this Management company. Your building is just a giant ATM machine to them! read more