In the course of conducting their business, associations regularly send out delinquency notices to owners who have not timely paid their assessments. It has been our experience that some delinquency notices still do not comply with Colorado law. On January 1, 2014, significant revisions were enacted to the Colorado Common Interest Ownership Act (“CCIOA”) withGo to Resource
Collections Resources
Collecting Delinquent Assessments – Why Does it Take So Long?
It’s Tuesday night and your board is gathered around the table in the clubhouse reviewing the board packet with last month’s meeting minutes, vendor contracts to review, and the dreaded delinquency report. A collective groan escapes and your treasurer asks, “What can we do to collect on these delinquencies faster? Why does it take soGo to Resource
Collections in a Nutshell Part 2
There’s no escaping it! Delinquencies are everywhere. As delinquencies seem to increase, associations are coming more and more frustrated with the state of their collections accounts. It is precisely for this reason that boards should become familiar with the collections process and what can and can’t be done under the law. This class focuses onGo to Resource
Small Claims Court – How Best to Proceed
With the recent uptick in the economy, individuals have more disposable income, which has attributed to an increase in small claims lawsuits getting filed against associations. Small claims lawsuits fall into one of three primary categories: 1) an alleged failure to follow or enforce the governing documents; 2) an alleged failure to properly and uniformlyGo to Resource
Why Foreclosure May Be Your Best Bet
One of the greatest challenges community associations face is the collection of past due accounts. As nonprofit organizations, the cash flow provided by payment of dues and assessments is vital to the association to function and fulfill its responsibilities to the community. Nonpayment or delinquent payment of dues affect all homeowners in a community and prevent anGo to Resource