Home Properties - Treatment of Residents - Possible Lawsuit
Chatham Hill Apartments in Chatham Hill, NJ is one of the properties owned by HME. In December 2008, there was a devastating fire in one of the buildings where 16 apartments were affected and some residents lost everything.
It was not the fault of any of the residents and evidence points to serious negligence of HME. Speaking with several residents and former residents, there has been a history of poor treatment of residents and repairs that were either sloppy or didn't get done.
Chatham Officials even found VIOLATIONS, fining HME some couple thousand dollars, and also gave them a warning.
There was talk then of a LAWSUIT by residents who were majorly affected, but now it is heating up and there were investigators at the property last week.
The posting here of a current resident describes well what's going there:
Home Properties has a tremendous resource of insurance to take care of any fire loss. There seem to be complaints that some of the properties are not up to standards. But that is what HME does. They buy properties that are distressed which this one was ie built in 1967, and bring them back up to good standing. This company was very successful with this business model here in Rochester NY. And I have no idea why stocks move up or down or what HME is worth, I do know that they have good management and a good business model.