Residents in various multi-apartment buildings in Latvia are encountering troubling situations where their home savings funds seem to vanish overnight. Dace Vārna, the chairwoman of the association 'Mājoklis', reported that over the last six months, eight community representatives have approached them over issues concerning their finances being unreturned, misused, or exploited inappropriately. This alarming trend often coincides with the replacement of building managers, leaving residents shocked when their long-saved money becomes inaccessible.

Many residents thought that switching to a smaller property manager would improve communication and management of their funds. Kristīne Šņore, a resident of a smaller Riga building, shared her experience of trying to recover her home’s savings after deciding to move from a larger management company that didn't provide adequate communication. Initially, her new property manager presented a solid plan and promised effective management, but the situation deteriorated, revealing issues with the financial integrity of the management.

This situation raises significant concerns about the security of residents' finances and the accountability of property management companies in Latvia. As community members become more aware of the risks associated with home savings mismanagement, there is a growing need for regulations and protective measures that ensure financial transparency and security to prevent further loss of residents' trust and finances in the housing management sector.