HOA Recordkeeping Compliance

Let ASAP help you stay in compliance.

Colorado Regulations require all HOA’s to provide specific information in writing or on a website, including:

  • contact information for the HOA and its management company or agent.
  • financial information, including an operating budget, a list of all insurance policies and a list of all applicable assessments.
  • minutes of all meetings during the year.
  • copies of all governing documents including bylaws and declarations.
  • the result of its most recent annual financial audit or review, which must be completed at least every two years.

ASAP's HOA Account Managers are licensed in Colorado under the CMCA and have completed necessary training and examinations relating to the Colorado Manager Licensure (HB 13-1277).

In addition to our staff resources, ASAP provides technology solutions to help HOAs stay in compliance. For example, with ASAP's customized website members can view association information online, anytime.

REFERENCE MATERIALS

Colorado Common Interest Ownership Act (CCIOA) - 2011 UnannotatedHB 09-1359

HOA Recordkeeping-requirements effective 1/1/2013 - HB 1237 HOA records which must be maintained and produced; HOA records which may be withheld from production; HOA records which must be withheld from production; Procedures for requesting HOA records; Charges for assembling, copying, and producing records; and the use of membership lists. In addition to complying with new HOA records law, it’s important to update your Policies to comply with new requirements (consult your legal team to update your Policies).

HOA Manager Licensing-requirements effective 7/1/2014 - HB1277 It is unlwaful for any person to engage in, or to hold out himself, herself, or itself as qualified to engage in, the business of community association management without first having obtained a license from the state.

Community Association Institute - CAI is a national organization that provides information and education for community associations and the professionals that support them. CAI Rocky Mountain Chapter

This article is brought to you by HOA Accounting by ASAP Accounting & Payroll. ASAP makes HOA Accounting painless -  learn more at www.hoaaccounting.com

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