In a white paper issued by the Colorado HOA Forum, this group sets forth six issues for which it is seeking legislative sponsors. The six issues verbatim are:
1. Prohibit/limit transfer fees on HOA and other community property home sales.
2. Require HOA special assessments over a specific dollar amount in HOAs with an annual income over a specific amount to be approved by 50 percent of
3. Require all HOA real estate transactions to include certification by the home buyer and real estate agent/broker that the following have been completed:
a. Read and understand the HOA’s governing documents that explain the controls, covenants, and restrictions.
b. Obtained from the HOA a statement of any active and planned special assessments and the monetary amount associated with
c. The realtor/broker informs the buyer of the number of homes under foreclosure in the HOA.
d. Obtain an agreement letter from the HOA concerning any repairs or maintenance work to be completed by the HOA within
six months after the home sale that have been identified as the responsibility of the HOA and not the home buyer. Such
issues have been identified in the home inspection report as needing to be addressed.
e. Understanding of the home rental policy in the HOA and how many rentals exists in the HOA.
f. HOA financial statement and specific analysis as the adequacy of HOA reserve funds.
g. The amount of monthly HOA dues.
h. The total number of units in the HOA and the number in arrears on HOA dues.
4. Limit fees, administrative charges, interest charges, and other collection costs on HOA debt that is less than six months in arrears to $25 per month plus overhead
charges to cover mailing costs. This also pertains to HOA debt that is being repaid under the payment plan mandated by HB1276. This is a modification to HB1276.
5. Modify the HOA registration process to include a requirement that all person serving on HOA Boards certify they have read their own governing documents and (to
be determined) information on the State’s HOA Office and Information Resource Center’s website concerning State HOA law, how to conduct meetings and elections, open access records requirements and dispute resolution. This is a modification of HB1134.
6. Implement out of court dispute resolution process for most HOA homeowner complaints modeled after the Virginia system. HOA homeowner complaints in this
process would be for damages under $7500, not felony in nature, and/or related to non-compliance with State HOA laws or a homeowner’s own governing
While these issues may seem far reaching, many of them having been floating around the legislative arena, and having an organized advocacy group may be what is needed to see even more legislation coming our way.