Many Homeowner Associations (“HOA’s”) don’t realize that their deadline to register with the Colorado Division of Real Estate without incurring any penalties was back in March of 2011.
Pre-CCIOA communities created prior to July 1, 1992 do not need to register but it is recommended that they still do so. The cost is only $8.95 and HOA’s can register online at: DORA HOA Registration.
HOA’s need to register contact information. Then the HOA must create an HOA registration. It’s a two-step process. The management company’s information, if applicable must also be provided. The Secretary of State ID number and the recording date of the HOA’s Declaration of Covenants along with its reception number, book and page must also be provided.
Some post-CCIOA HOA’s are not required to register but most should do so. If your HOA does not collect assessments and does not have any revenue or its revenue is minimal, it may be exempt from registration. Similarly, if the HOA was created after 1992 but is not subject to CCIOA, it may be exempt. If your Board or Property Manager require assistance, a lawyer should be contacted to answer any questions or assist with registration. An HOA can suffer penalties for not properly registering.