From Capitol Hill/Legislation

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As I discussed fully in a blog posting on March 21, 2011, for a condominium association to obtain HUD certification for purchasers of units in that association to obtain FHA-backed loans, one of the requirements is that at least 50% of the units in the project must be owner-occupied. Simply put, that means associations must have a mechanism to regulate the rental of units. Ironically, HUD also had in place guidance that would have disqualified any association with rental restrictions in the association’s governing documents.Continue Reading HUD Approval of Some Leasing Restrictions Made Permanent

If you serve on the board of directors or are a manager of a condominium association, you know that obtaining approval from HUD for FHA-backed loans really enhances the ability of owners to sell their units in your community. 

As I mentioned in myJune 30th blog posting, HUD launched the new Condominium Project Approval and Processing Guide (“Guide”) which outlines the criteria that condo associations must comply with in order for these communities to be certified by HUD to be eligible for purchasers of units to obtain FHA-backed loans. One of the many items that HUD reviews when analyzing an association’s submission, is whether the association has levied a special assessment. Here is the provision of the Guide that addresses special assessments: Continue Reading Special Assessments Proving Problematic for FHA Approval

On June 30th, we announced in a blog posting that the U.S. Department of Housing and Urban Development (“HUD”) had just released the new Condominium Project Approval and Processing Guide (“Guide”). The Guide consolidates the processes and requirements that condominium associations must comply with in order to receive FHA certification. In addition, the Guide also…

Late last week, Aaron Acker and I co-presented a legislative update session at the Colorado Bar Association course Advanced HOA Issues: Communities in Distress. Aaron, the HOA Information Officer with the Colorado Division of Real Estate (“Division”), focused on the role of the Division relating to homeowners’ associations (“HOAs”) and provided a synopsis of the types of HOA-related complaints his office is receiving. Here’s an overview of what Aaron shared with the attendees:Continue Reading HOA Information Officer Gives Synopsis of Complaints at CBA Course

We have been hearing a lot of buzz out in the HOA world about the new Americans with Disabilities Act (“ADA”) regulations relating to pool accessibility standards. Many associations are confused about whether these new standards apply to their communities, what exactly the pool accessibility standards require and when modifications to pools and spas must be made. For our HOA friends out there, here’s what you need to know:Continue Reading New ADA Pool Accessibility Standards: What HOAs Need to Know

At long last, today is the final day of the 2011 Colorado Legislative Session. All in all, it was a good session for HOAs in Colorado. Unfortunately, the HOA registration clean-up bill (“SB 253”) was derailed by the House Majority Leader at the 11th hour.

SB 253, backed by CAI’s Colorado Legislative Action Committee (“CLAC”), was introduced to clean-up and clarify provisions of HB 10-1278 which last year created the HOA Information and Resource Center and HOA Registration – both of which are under the auspices of the Colorado Division of Real Estate. As fully discussed in our April 21st blog posting, SB 253 was intended to provide clarity and protection for HOAs from unnecessary litigation and potential legal exposure relating to the statutorily flawed registration requirement. Continue Reading HOA Registration Clean-Up Bill Dead