NASHVILLE, Tenn. (WTVF) — Homeowners in communities formerly managed by Gasser Property Management are conducting their own investigations into alleged financial mismanagement as the Tennessee Bureau of Investigation continues its criminal probe into the company and its owner.
After discovering what they describe as a "wider web of money mismanagement," residents are digging through financial statements and finding losses that may exceed $500,000, according to conservative estimates from Carothers Farms homeowners.
"I just want to see justice served," Terry Taylor, one homeowner, said.
The financial impact has forced some communities to take drastic measures. In Carothers Farms, the homeowners association board raised dues by approximately 24% to cover alleged losses created by Gasser Property Management.
"I went from $263 to $309," one resident said, describing the increase as "taxation without representation."
Some homeowners are paying their increased dues "under protest," writing the phrase in memo lines of their checks while continuing to pay to avoid late fees or liens on their homes.
"We have no power, the laws do not protect us, and so we're in a pretty tough fight here," Dave Whisler, another resident, said.
Approximately 100 neighbors pooled money to hire an attorney who drafted a letter to their HOA board, Gasser Property Management, and others, requesting financial documents and answers about what happened to their accounts.
"We identified a number of things that look suspicious - transfers to other HOAs, payments to entities, large dollar amount payments to entities that appeared to be related parties, things that just look questionable overall," one homeowner said.
The TBI is calling community members to document their losses, understand the timeline, and identify all players involved as they investigate Gasser Property Management and its owner, Emery Gasser, for potential criminal charges.
"Are you encouraged by a TBI investigation? We're encouraged but not overly optimistic," Whisler said.
Homeowners are learning that HOA account losses will ultimately be paid through their bank accounts - money they already contributed once before. Their only recourse now appears to be an expensive legal process.
"We're simply individuals who bound together collectively to donate money to get a lawyer," Whisler explained.
The TBI confirmed their criminal investigation into Gasser Property Management and owner Emery Gasser is ongoing. Gasser has not been charged with any crime.
Several vendors are also reportedly impacted, waiting for hundreds of thousands of dollars in payments from the company.
Have you been affected by Gasser Property Management or have concerns about your property management company? Email Amanda Roberts at Amanda.Roberts@NewsChannel5.com with your story.
This story was reported on-air by Amanda Roberts and has been converted to this platform with the assistance of AI. Our editorial team verifies all reporting on all platforms for fairness and accuracy.
