New House-No Bill from HOA

Hi Mary:

Have you spoken with your neighbors about the dues? They would at least be able to potentially give you a heads up as to whether or not they themselves have received anything yet. After speaking with a couple of them if you still have not heard anything from your email request, I would recommend you send your request by “Certified Return Receipt” mail so you have proof that you have asked for the information. You stated this is your first HOA and are concerned, but I would not be too concerned yet. I am assuming from some of your comments that you are potentially a single family residence HOA and for which dues are potentially annual.

In the meantime you did read your governing documents before purchasing I hope, if not be sure to take the time to sit down and become familiar with all your documentation. Also, you may want to become familiar with the state statutes and other information. The following is the website for the new Colorado Information Office and Resource Center. Under the consumer resources is a link for Colorado Common Interest Ownership Act statutes which you should also read through especially Part 3 regarding Management of the Common Interest Community.

http://www.dora.state.co.us/Real-estate/licensing/subdivisions/HOA.htm

The following is portions the statute regarding annual information to be available to homeowners:

38-33.3-209.4. Public disclosures required - identity of association - agent - manager - contact information.

(2) Within ninety days after assuming control from the declarant pursuant to section 38-33.3-303 (5), and within ninety days after the end of each fiscal year thereafter, the association shall make the following information available to unit owners upon reasonable notice in accordance with subsection (3) of this section:

(a) The date on which its fiscal year commences;

(b) Its operating budget for the current fiscal year;

(c) A list, by unit type, of the association's current assessments, including both regular and special assessments;

(d) Its annual financial statements, including any amounts held in reserve for the fiscal year immediately preceding the current annual disclosure;

(e) The results of its most recent available financial audit or review;

(f) A list of all association insurance policies, including, but not limited to, property, general liability, association director and officer professional liability, and fidelity policies. Such list shall include the company names, policy limits, policy deductibles, additional named insureds, and expiration dates of the policies listed.

(g) All the association's bylaws, articles, and rules and regulations;

(h) The minutes of the executive board and member meetings for the fiscal year immediately preceding the current annual disclosure; and

(i) The association's responsible governance policies adopted under section 38-33.3-209.5.

(3) It is the intent of this section to allow the association the widest possible latitude in methods and means of disclosure, while requiring that the information be readily available at no cost to unit owners at their convenience. Disclosure shall be accomplished by one of the following means: Posting on an internet web page with accompanying notice of the web address via first-class mail or e-mail; the maintenance of a literature table or binder at the association's principal place of business; or mail or personal delivery. The cost of such distribution shall be accounted for as a common expense liability.

You are most welcome ... we are all here to help each other whenever possible.

Hi Mary:

I am glad you would like to be more involved as so few who purchase in an HOA are willing to put forth any effort. I would like to recommend that you attend the board meetings as this will give you an idea regarding most everything within the association.

Best of luck to you and your association!!!