Small HOA strapped by HB22-1137
Some homeowners do not pay their Dues or noncompliance fines. Our HOA assessment dues are only $25 annually. We have no common areas no maintenance performed by the HOA. 146 homeowners. Our Bylaws, Declaration of Covenants and Reasonable Governance Policy are concerned only with Compliance to the Covenants and Architectual guidelines. We have a self-governed volunteer board, monthly board meetings and a members Annual meeting. With the passing of HB13-1276 and now HB22-1137 the governing policies cannot be rewritten in a way that our HOA has any way of collecting past due assessments. Owing $25 dollars for the year the rules are still two 30 day cure periods and a 6month payment plan. Collection agencies will not start a claim until the past due is $300. That equates to many years of delinquent payments before collecting is possible. The same with noncompliant fines which are few and far between. For us they are too small of an amount to be collected, Yet are needed in our check book to pay for the huge amount of USPS mailings that are required in the new rules for multiple and ongoing contacts with the homeowner members about dues and meetings. Is there something the board is not aware of in our situation? They have communicated this to the members, and even legal council does not have an answer. We continue to need updating to Colorado State requirements without knowing what to do.
Thank you for visiting the community engagement tool for the HOA Homeowners’ Rights Task Force.
Pursuant to HB23-1105, this project has now concluded. On behalf of the Department of Regulatory Agencies and the Division of Real Estate, thank you for your interest and participation.