HOA Center

The Colorado General Assembly Legislative Session adjourned on May 9, 2023. During the session, many new bills directly or indirectly affecting real estate and the practice of real estate were passed and became law. Understanding these laws, whether you are a real estate professional or simply an interested member of the public, may be helpful. The Division of Real Estate has prepared the following legislative summaries to aid you in better understanding the latest changes. Final language of these acts and other information about the Colorado General Assembly can be found on the Colorado General Assembly’s website at: https://leg.colorado.gov/

Venga y únase con Amanda López y Nick Altmann del Centro de Recursos de Información de la Asociación de Propietarios de Viviendas, para una presentación en Español sobre una descripción general de las asociaciones de propietarios en Colorado (HOA) y qué esperar antes de comprar una propiedad en una asociación de propietarios HOA. 

Viernes, 19 de mayo de 2023, a la 1:00 PM

The Division of Real Estate is pleased to announce that Nick Altmann is the new HOA Information Officer and will be leading the HOA Information and Resource Center.

The Division of Real Estate would like to announce that David L. Donnelly is the new HOA Information Officer and will be heading up the HOA Information and Resource Center starting at the beginning of April.

In our recent article titled “Water Damage: Who’s Responsible?”, we discuss the issues involved in determining responsibility when water damage occurs in a unit within a homeowners association. Another consideration when dealing with water damage in an HOA is who is responsible for the insurance deductible. Generally, if damage to an insured property is less than the amount of the insurance deductible, then the insured would likely not file a claim, as there would be no insurance payout. However, for many associations, the cost of water damage frequently exceeds the amount of the insured’s deductible. When that occurs, the parties involved need to know who will be responsible for paying the deductible. 

If you’ve been following this year’s legislative session, you’ve undoubtedly heard of HB21-1310. Its stated purpose is to provide additional protections for homeowner’s freedom of expression in an HOA under the Colorado Common Interest Ownership Act (“CCIOA”).

Determining responsibility for water damage that occurs in a unit within a homeowners association is not always a simple process. There are several considerations to be had and whether or not a party was negligent or irresponsible isn’t always the first question to ask.

The effort and resources it takes to effectively govern a homeowners association requires collaboration and cooperation from more than one person. As such, the use of committees in community associations can be a very useful tool for accomplishing the goals of the association. However, in order to be most effective, committees should be well formed with specific purposes and guidelines for their operation.