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. 

Unlicensed HOA Manager? Watch out!

Beware

Community Association Managers and HOAs beware! Nearly 6 months after community association managers were required to be licensed, the State is taking action against individuals and management companies that have yet to meet the requirements of the new law.

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Happy Holidays from Orten Cavanagh & Holmes!

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It’s such a joy doing business with you!  We sincerely thank you for the opportunity to serve you and your communities.  We wish you a joyful holiday season and much success in the New Year!

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Colorado Springs Begins to Adopt a Construction Defect Ordinance

Colorado Springs is taking construction defects to a municipal level.  In council chambers filled with builder-advocate groups, Council members recently voted unanimously on the first reading of this ordinance.  The ordinance seeks to restrict the rights of homeowners to hold builders accountable for defective construction. If the ordinance is approved by a final vote set to occur on December 8, the ability to bring claims in the Springs under municipal law will be limited.

City Regulation of Short Term Lodging

San Francisco and Washington D.C. have proposed regulation of short term lodging offered by internet providers, like AirBnB.  In response, that company has renewed its pledge of cooperation with cities.  The company has also asserted that the hotel industry “threatens the economic lifeline of home sharing.”

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