All you need to know about HOA
The homeowners association is the cornerstone of a planned residential community. It brings continuity and order to the community, it preserves the architectural integrity and it maintains the common elements. Properly run, the association promotes the concept of “community” and protects the neighborhood’s property values. In many cases, it collectively makes available recreational and other facilities that might not otherwise be affordable or available to homeowners and residents on an individual basis.
If you live in a newer suburban community or planned unit development, you — like some 63 million other Americans, according to the Community Associations Institute — are probably a member of a homeowners association. It’s also a good bet that you haven’t given your HOA much thought until you have a problem.
Since HOAs make and enforce the community rules, it’s smart to understand what you can do if you can’t or don’t want to follow them.
In addition to the annual Secretary of State Registration, HOAs are required to register annually with the Colorado Division of Real Estate. An HOA who fails to register timely, renew or pay the required fee may be precluded from imposing or enforcing a lien for assessments.
Colorado HB 13-1134 (2013) mandates that all common interest communities register with the HOA Information and Resource Center, including those which were created before July 1, 1992.* This requirement became effective August 7, 2013.
*Common interest communities which were created prior to July 1, 1992, are commonly referred to as Pre-CCIOA communities. “CCIOA” is the Colorado Common Interest Ownership Act, which became effective on July 1, 1992.
Every HOA must renew their registration annually.