HOA Reserve Studies

Jerry Orten was quoted in a May 2015 article in the Orten Cavanagh & Holmes LLC on HOA reserves.  Jerry said:

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Ouch! 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 owners or residents must be careful to avoid overreaching when requesting information relative to an individual’s disability or condition. If a condition is readily apparent, and – especially in instances where an animal is clearly qualified as a service animal – continuing to interrogate owners or residents regarding proof of their condition or need for the animal could result potential liability under state and federal fair housing laws. Likewise, requiring residents with support or service animals to comply with unduly burdensome or overly restrictive rules could also result in additional risk to the association or the board.

CCIOA Public Policies that Supersede Restrictive Covenants

Colorado statutes, in the Common Interest Ownership Act, supersede many restrictive covenants.

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Insurance Requirements for Licensed Managers

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 named as an additional insured on the Association’s fidelity policy. The state will accept a community’s D&O policy in lieu of an E&O policy, so long as the policy meets the coverage limits outlined in the statute and the CAM rules.Managers should watch for future changes to the rules related to the rule making hearing set for July 22, 2015.

Obtaining a Provisional CAM License if you Fail the Exam

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:

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Denver

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Denver, CO 80202
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Colorado Springs, CO 80903
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