By January 1, 2025 over 32 million small companies must report their beneficial owners to the Treasury Department. Failure to report creates substantial criminal and civil liabilities for the company and its beneficial owners. The question has arisen, do homeowner associations have to report under the Corporate Transparency Act (CTA)? The State of Colorado seems […]
The Colorado General Assembly passed HB22-1137 increasing HOA Board requirements before filing lawsuits and limiting interest on delinquent accounts. We have mixed emotions about this law. On one hand, we have seen some heavy-handed HOA boards and lawyers taking advantage of the previous law. On the other hand, the pendulum has swung far the other […]
There is a lot of conversation at the Colorado State level surrounding taxation of vacation rentals. As of right now, three bills may be presented. First, HB22-1117 has been presented as an opportunity for county governments to introduce lodging taxes at a county level. These taxes would be dedicated to tourism marketing and workforce housing. […]
When damage occurs in condominiums or townhomes, one of the main questions is whose insurance is left holding the bag. Does the homeowner’s insurance pay? Or does the Homeowners Association’s? An Association’s responsibilities are laid out in their Covenants, Conditions, and Restrictions (“CC&Rs” or “Declaration”). However, when it comes to allocating insurance responsibilities between homeowners […]
Short term rentals are defined generally as a rental that lasts for less than 30 consecutive days. Airbnb and VRBO are just a few of the many companies who are trying to profit off homeowners renting empty rooms or empty homes to vacationers. While that may seem like an appealing way to make money for […]
As we approach the Fourth of July, you and many of your neighbors are probably planning to fly the American flag. However, if you live in a community governed by a homeowners association, this benign act of patriotism may be against the rules. In fact, a quick Google search reveals pages full of news articles […]
How much can your HOA Board do without owner approval? When the HOA Board takes steps that can cost the owners money, like adopting an enforcement policy, owners get concerned. Enforcement policy usually involves fines and fees for non-compliance with the HOA covenants. Don’t all the owners get a say on that important of a […]
Can my neighbor leave their trash cans outside? Can I build a shed for tools? Can my neighbor install that huge, ugly new fence? Nothing is more uncertain than whether a specific action by a homeowner violates a common interest community covenant running with the land. Homeowner association covenant enforcement is a tricky business. Many […]
Congratulations! You have been “elected” to serve on your Homeowner Association (HOA) Board. So, what does that mean? What are your responsibilities? What should you do? The typical HOA Board is made up of four officers: President, Vice-President, Treasurer, and Secretary. The President typically prepares the meeting agenda, presides over meetings, appoints committees, execute contracts, […]