Troubles Force Oaseas Resorts to Close

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PANAMA CITY BEACH - A condominium management company has unexpectedly shut its doors, with nothing more than an e-mail to the condo owners they represent. Oaseas Resorts manages hundreds of condo units at almost a dozen Panama City Beach and South Walton resort properties. The condo owners aren't too pleased by the prospects of losing thousands of dollars each.

The peak summer rental season is winding down. That usually means thousands of dollars in John Meier's pocket but Tuesday night he received an email from his rental management company, Oaseas Resorts, saying the firm will be closing due to "management issues and economic conditions, including cash flow."

It also says that "Oaseas Resorts will be ceasing operations."

Owners say they haven't received rent payments for June or July, and they want some answers.

"So it absolutely infuriates me that somebody is holding or has removed thousands and thousands of dollars from my family's pocket," said Meier.

Other owners agree and want to see action taken.

"I hope that Oaseas would do the right thing and pay us for those months. We trusted them with our property," said condo owner Jean Clower.

Oaseas Management members tell NewsChannel 7 they didn't anticipate this situation.

"We knew the economic conditions and so forth and other things were causing pain, but everybody thought it would work. Then it got to the point that it was wiser for us to start to close it down," said Thomas Duggan.

As far as financial obligations to the owners, Duggan says he isn't sure of anything right now. "I don't know. I need to let the processes take it place. I need to let the accounting people do their job. I need to let people get to the bottom of it."

That's not good enough for some of the owners.

"I've just traveled 400 miles to get here today {Wednesday} so I could get some answers to those kinds of questions and today {Wednesday} I've received no kind of answers," said Meier.

Some, like Meir are now considering legal action against Oaseas Resorts.

Oaseas Management says it has talked with other management groups like Resort Collections to help accommodate visitors who had planned to rent one of the Oaseas properties.

The first of the criminal complaints was filed Thursday.

You can find a copy of the criminal complaint form below. Print the form. Fill it out and email it to Sgt. Talamatez ( You can go to the
Panama City Beach Police Department's website and click on Oaseas Complaint Form.

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