Back in 2013, HB-1276 was adopted in the Colorado legislature, which required an overhaul of Collection Policies and pre-collection procedures. That change took effect on January 1, 2014. Now that it’s been 7 years and several new laws that impact Associations later, it’s easy to lose track of the details. We’ve seen a trend ofGo to Article
Last week, we posted a blog about the Top 3 Best Collection Remedies You Should Have In Your Governing Documents. Unfortunately, there are often some limitations in many association’s governing documents that should be removed for more effective collections. Here are our top 3: Low caps on late fees: The purpose of late fees isGo to Article
Acceleration: In case you missed our earlier newsletter article, acceleration can be a very useful tool early in the year. If allowed by your governing documents, accelerating allows you to call due now all the assessments due for the rest of the year. This is only an option if your governing documents allow for it,Go to Article
Earlier today, the Colorado legislature voted in favor of SB21-002, a bill that impacts Associations’ ability to collect unpaid assessments. That bill is headed to Governor Polis and is expected to be signed into law shortly. So what does this mean for you and your Association’s delinquencies? Luckily, it doesn’t change much. At the endGo to Article
