Posted By: Christopher M. Unger
Practice Area: Homeowners Associations
On March 4, 2015 the Colorado Department of Regulatory Agencies (“DORA”) created new laws regarding Colorado Community Association managers. These new laws go into effect on April 1, 2015. The new laws relate directly to the licensing requirements for community managers.
Under the new law, anyone who serves as community manager for a Community Association must be licensed with DORA. This includes individuals who serve in this capacity, as well as corporations, partnerships, firms, or associations who serve as a community manager.
The new law defines who is considered to be a community manager. A community manager is someone who is hired by the community to oversee operations of the community. Some of the duties of a community manager might include day-to-day operations of the community, conducting investigations of community rule violations, accounting of the funds of the community, et cetera.
There are some exceptions to these licensing requirements. They include:
- Any person or company who is not compensated for their service as community manager,
- Any public official,
- Any receiver, trustee, administrator, or conservator acting under proper authority, or
- Any attorney in connection with their representation of the Community Association.
This is only a sampling of the more common exemptions. The law does make exemptions for other, less common situations.
Anyone required to be licensed must be fully licensed by July 1, 2015. To become licensed you must comply with the following requirements. You must meet the required education requirements or complete 24 hours of alternative course work. You must pass the state examination given at various testing centers. You must submit to a Colorado Bureau of Investigation background check. Finally, you must complete all required forms and applications.
This new law will have far reaching implications across the state of Colorado. As such, it is important for Community Associations and association managers to be well versed in the new law and its requirements. The team at Mountain West Business Law, P.C. routinely assists Community Associations with their legal compliance and understanding changes in the law.
For more information, visit: Department of Regulatory Agencies - Division of Real Estate, Community Association Manager Licensing Rules