A recent announcement from the City and County of Denver suggests that Denver may be following suit with other cities by introducing a new ordinance to address construction defect reform. The proposed ordinance would place restrictions on the rights of condominium associations and HOAs to bring actions against developers and builders alleging construction defects. Although […]
3 Day Disclosures The Consumer Financial Protection Bureau has implemented a new rule requiring disclosure of HOA costs and fees in 3 business days. This includes CIC documents, transfer/record change fees, status letter fees, assessments and dues and working capital. To comply with this 3 day requirement, title companies are expected to request HOA information […]
Many Colorado cities, just like HOAs, are considering regulating short term rentals. The Colorado Springs Gazette recently reported on the impact of short term rentals in both Manitou Springs and the Springs. Manitou currently has a moratorium in place on new short term rental licenses until it enacts new rules, which it aims to do […]
Jerry Orten was quoted in a May 2015 article in the Orten Cavanagh & Holmes LLC on HOA reserves. Jerry said: “Each community should decide for themselves whether to have a reserve study, who to obtain it from, how often to update it, and how to implement it. Most HOA’s are required to have a […]
HOA Sued Again! In light of a second lawsuit recently filed against a condominium association in Aspen, managers and boards of directors should be mindful of state and federal anti-discrimination laws. The pending lawsuits stem from separate occurrences between the association and residents’ on service/support animals. Association boards and managers who receive accommodation requests from […]
Colorado statutes, in the Common Interest Ownership Act, supersede many restrictive covenants. Which ones? CCIOA allows for: U.S. Flag Military Service Flags Reasonable accommodations for modifications Emergency vehicles Clearing trees and shrubs to create defensible space Cedar shake shingle covenants are void Political Signs (in season) Xeriscaping Energy saving modifications Energy generating modifications Electric vehicle […]
Insurance requirements for community association managers (CAMs) are provided by statute and CAM “D Rules.” Licensed CAMs who are employees of a management company are required to obtain and maintain errors and omissions insurance and crime/fidelity insurance in amounts described in the rules. Licensed managers who are employed by an owner association are to be […]
Obtaining a Provisional CAM License The deadline to become licensed is quickly approaching. For those managers who have not successfully passed the CAM exam on their first try – all hope is not lost! Here is what you can do to obtain a Provisional License: Complete and submit a license application for a Provisional License […]
What you Should Know Before Buying in a Condo Community Are you in the market for a condominium? If you buy a condominium you will become a member of an owners association. The owners association (or HOA) offers to protect the value of properties in the community through maintenance services, restrictive covenants and rules and […]
On May 20, 2015, Governor Hickenlooper signed House Bill 15-1343 into law. Consequently, the Director of the Division of Real Estate published Emergency Rules, effective May 21, 2015 through September 21, 2015, specifying the application and license requirements for obtaining a Provisional License or an Apprentice License. Apprentice License HB 15-1343 allows prospective individuals interested […]
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