Increased HOA Registration Fee for 2012 In Effect
In my November 30th blog posting, I reminded HOA boards and managers to put the renewal of their HOA’s registration with the Colorado Division of Real Estate (“Division”) on their 2012 To Do List. In that posting, I noted that we suspected the registration fee would be significantly increased to cover the costs of operating the program.
The Division posted on the HOA Information and Resource Center webpage that the registration fee has been increased to $43.00. In addition, the processing fee will be increased to just below $1.50. Pursuant to statute, the registration fee cannot exceed a $50.00 statutory cap and must be set at a level that estimates the direct and indirect costs anticipated to operate the HOA Information and Resource Center. Frankly, the current fee is more in alignment with where we thought the original fee would be set.
As a reminder, your initial registration is good for a period of one year. That means, according to the HOA Frequently Asked Questions published by the HOA Information and Resource Center, you must renew the registration for your HOA within one calendar year of the initial registration date.