Homeowners Can Support Better Education and Oversight of Property Management Companies

HB24-1078, is a bill recently introduced to establish standards for Property Management Companies and to make it unlawful for a business entity to perform property management duties without a license. If interested in telling your story about your experiences with your property management company, you can write, and/or testify before the Members of the House Transportation, Housing and Local Government Committee. Links are provided below.

If the bill passes, on and after July 1, 2025, HOA management companies will be required to demonstrate compliance with insurance requirements as specified by DORA. The company would be required to designate an individual as the business entity's controlling manager who is responsible for the management activities of the business entity and of its employees. The entity would be responsible for paying a fee based on a schedule of fees determined by DORA and the company must obtain criminal history records for its manager and each individual that performs community association management on behalf of the business.

DORA would be required to establish by rule, education requirements for the managers and any employees of a licensed entity who perform management on behalf of the licensed entity. The bill also sets forth grounds for disciplining a licensed entity and directs DORA to establish a points-based disciplinary system based on the level of violation.

To sign up to remotely, in person or by a written letter, go to https://leg.colorado.gov/

Then click on the Committee Heading and then the Public Testimony Options link. You should be able to follow the prompts. The bill is HB24-1078, the Committee of jurisdiction is The House Transportation, Housing and Local Government. The hearing is scheduled for Feb. 14 at 1:30 pm. Be prepared to spend the afternoon listening to others as well.

The full language can be printed from this link:https://leg.colorado.gov/content/transportation-housing-local-government-10

You can also view the pictures of the Legislators serving on the Committee and write committee members individually at: https://leg.colorado.gov/committees/transportation-housing-local-government/2024-regular-session

Homeowners have the opportunity to have their voices heard by taking action.