1 minute reading time (153 words)

DORA Position on Management Company Record Retention

The state has clarified management company record retention requirements following termination of an Association’s management contract. The management company is required to retain a former client’s records that were produced or involved the management company during the management term. As the Community Association Managers Practices Act became effective January 1, 2015, management companies should retain records for existing clients from at least that date forward or any longer period required by the HOA’s records retention policy or CCIOA. Those records must be kept for 3 years after termination. The management company is not required to retain any HOA documents that are publicly recorded or documents created prior to inception of the management relationship which did not involve its participation. Post termination storage retention costs cannot be charged to the HOA unless the management contract specifically details the cost and the Association agreed. Click here to view DORA’s complete CAM Rules and Position Statements

Colorado Governor Supporting Construction Defect R...
Unlicensed HOA Manager? Watch out!

Orten Cavanagh & Holmes, LLC
Copyright © 2019 Orten Cavanagh & Holmes, LLC .
Disclaimer

Denver

1445 Market Street, Suite 350
Denver, CO 80202
Main: 720-221-9780
Fax: 720-221-9781

Colorado Springs

14 N. Sierra Madre Street, Suite A-1
Colorado Springs, CO 80903
Main: 719-457-8420
Fax 719-457-8419