What you Should Know Before you Buy in a Condominium 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 more.  The HOA is likely administered by a board of directors—volunteer homeowners elected by their fellow residents to set budgets and policy.  

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Division of Real Estate Publishes Emergency Rules

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.

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Manager Licensure Clean-Up Bill Signed Into Law

Governor Hickenlooper signed House Bill 1343 into law.  HB 1343 clarifies who is required to be licensed as a Community Association Manager.  Specifically, HB 1343 states:

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Provisional and Apprentice Licenses Proposed

A provisional license for managers has been proposed to be allowed through December 31, 2015.  An apprentice license is also proposed.

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Take Heed of New Licensing Requirements for 2015

The Department of Regulatory Agencies Real Estate Division is putting new licensing requirements into effect for 2015.  Community association managers and those who have a vested interest in homeowner associations, cooperatives and condominiums will need to take heed of the new license requirements.  Read Jerry's full article as appeared in the Colorado Real Estate Journal.

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