|Colorado HOA Forum: Homeowner Advocates
|property managers)). This includes requiring CAMs to provide home owners with a receipt for any fee.
Limit fees and administrative assessments on HOA debt
Require Realtors and HOA home buyers to be provided with the following information and certify they received and read
them prior to the sale of a home in an HOA: a copy of the HOA's governing documents; information on insurance
coverage provided via the HOA; any HOA homeowner debt or HOA liens associated with the home; a current HOA
financial statement; the amount of HOA dues; any current and/or planned special assessments; status of the
HOA reserve fund; the number of rentals and foreclosures in the HOA; rental restrictions/rules and other items identified
in our HOA Home Buyers Guide; statement on how the HOA is complying with Fair Housing and other regulations to meet
the needs of disabled residents; pet restrictions, any restrictions on the age of residents; amount and detailed list of
costs relating to any HOA transfer fees; list of is maintained by HOA and that which is the responsibility of the home
owner; and any pending litigation or law suits in which the HOA is involved.
Term limits on HOA Board members when others are willing to serve. (article on Board member temperament)
Include as part of the HOA registration process a certification that HOA Board members read their own HOA governing
documents and applicable information posted on the State's HOA Office’s web site concerning State HOA law and post
on the State HOA registration web listing the name, email address, physical address, and telephone number of the CAM
servicing the HOA and the HOA's email and physical address.
Limit the amount of special assessments an HOA Board can levy without approval of home owners and restrict the
Board's authority to use HOA funds for law suits without home owner approval.
Delinquent HOA dues for rental units will be paid directly to the HOA by the tenant/renter and such payments will be
deducted from the renter's rental payment to the landlord. The rent will be considered paid in full when the landlord
receives the net (normal rental amount less delinquent HOA dues payment) rental payment. The renter can't be evicted
for delinquency when their net payment to the landlord is received on time.