One of the more confusing concepts in HOA world is insurance and knowing when to submit a claim. All too often associations get in trouble for failing to submit claims and requiring an owner to pay for damages out of pocket instead of using insurance proceeds. In this article, we will discuss how to determineGo to Resource
Is finding a parking space in your community challenging? Condominium and townhome-style communities often have open parking lots which may include individually assigned parking spaces and/or parking spaces which are available on a first-come, first-served basis. Such communities commonly adopt parking rules that aim to increase safety, improve the flow of traffic, and maximize parkingGo to Resource
When a property is set for a closing, the title company handling the closing will request a status letter from the management company or board. The status letter contains quite a bit of information, including telling the title company how much of the profits from the sale should be withheld to pay the balance dueGo to Resource
The Corporate Transparency Act (“CTA”) has caused panic and confusion among the HOA industry. Both managers, board members, and others in the industry are wondering what it means for them and how they can comply with the requirements. The CTA is a federal law requiring corporations and other businesses to report their “beneficial ownership” informationGo to Resource
Pursuant to C.R.S. §38-33.3-209.5 of the Colorado Common Interest Ownership Act, an association is required to adopt nine policies. We can draft all nine required policies for a fixed fee. Please contact us at 303.432.9999 or [email protected] with any questions on the below, or other legal needs for your association.