DAVIDSON COUNTY, Tenn. (WTVF) — Multiple homeowner associations across Middle Tennessee are reporting tens of thousands of dollars missing from their accounts after severing ties with Gasser Property Management, prompting calls for increased oversight and transparency in the industry.
Following our initial reporting on Gasser Property Management, several communities have launched their own financial investigations, with some discovering significant shortfalls in their HOA accounts.
At a recent community meeting organized by Carothers Farms homeowners, residents from multiple neighborhoods gathered to share information and collaborate on solutions after questioning whether their HOA dues were being properly managed.
"From my perspective, there's a significant harm that has been done to us," one homeowner said.
The Carothers Farms community's builder, Regent Homes, which still oversees their homeowners board, fired Gasser Property Management after learning the company was in serious financial trouble.
"Were you keeping track of what Gasser was doing, and he said no, we trusted him," another resident shared.
Homeowners hoped to get answers from Regent or Gasser representatives at the meeting, but instead found themselves joined by residents from other affected communities across the area.
"And we found out we don't have our money," another attendee said.
The common thread among attendees: they all live in communities working to sever ties with Gasser Property Management.
"We actually found out about this whole mess from your original article," one homeowner said. "And I would love to see what the rest of the community is doing."
After firing Gasser Property Management, Stone Creek Park Homeowners Association President Alyson White says investigating their financials has consumed enormous time and energy.
"It has been a nightmare trying to piece together what we have, what we don't have, where our money is, getting our money, do we have insurance, is it covered, do we not, what do we do from here," White said.
Stone Creek struggled to contact Gasser to locate their bank accounts. When they finally gained access, they discovered more than $50,000 missing from their account.
When asked whether there needs to be more state regulations and oversight on property management companies, White responded emphatically: "Absolutely. Absolutely."
Stone Creek filed a police report regarding the missing funds. Metro Police confirmed their fraud division has an open investigation into Gasser Property Management. This marks the third law enforcement agency to confirm an investigation into the company, joining Mount Juliet and Brentwood Police departments.
Amanda Roberts wants to hear from homeowners dealing with property management issues. Your story could help protect other communities. Contact her at Amanda.Roberts@NewsChannel5.com
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.
