Newspaper Folha de São Paulo has determined that the three largest building management companies in the city – Lello (1,068 buildings), Itambé (380) and Hubert (348) – show stability. Only Oma, fourth in the ranking, managing 300 buildings, show negative indices: default increased 5% in January, 12% in February, and 17% in March.

“People won’t default in their maintenance payment because of the low penalty, but they would if they don’t have ay money and there were no effective means of collection”, says Braga, of Itambé.

“Nobody wants to be famous for being insolvent in the building they live”, declares attorney Flávio Gonzaga, a partner with Machado, Meyer, Sendacz e Opice Advogados.

Sources:   Folha de São Paulo April 6, 2003 p.Imóveis 1
Date of insertion:   08/04/2003 - 15:47:14