The state legislature is considering and appears poised to pass a bill requiring HOA management companies to disclose funds they receive from third parties (i.e.: from someone other than the Association). HB 2014-1254, as rewritten, would require these disclosures.
On May 28, 2013, Governor Hickenlooper signed into law HB 2013-1276 - the HOA Collection Policy Requirements and Debt Collection Limitations bill.
Jim Phillips was prepared for many of the costs associated with selling his Aurora home in July. What he was not expecting was a $500 "transfer fee" for HOA documents required to complete the sale of the property in the Tallyn's Reach development. Phillips reluctantly signed the closing documents, then disputed the charge from his HOA's property management company. After failing to reach a resolution, he took his case to small-claims court in Arapahoe County, where he recovered much of the cost. (By John Mossman, The Denver Post) Read more