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As the State of Colorado is dealing with the effects and ramifications of the spread of the COVID-19 virus, we must all acknowledge the day-to-day living taking place in our communities. The economic impact of this situation is significant, as we are seeing many people that live in our communities being laid off from their employment, being downsized, having their work hours reduced, or having their small businesses temporarily closed. As a result, many of our citizens and neighbors may not be able to meet their HOA obligations when it comes to paying their assessments and fines.
The Colorado HOA Information and Resource Center is recommending that association boards assess good governance policies that continue to advance your organization and members by considering a moratorium for collection activities, late fees, liens, and foreclosures during this unprecedented time. This not only follows the spirit of Governor Jared Polis’s March 20th Executive Order D 2020 012, Limiting Evictions, Foreclosures, and Public Utility Disconnections, but will allow for our neighbors to take care of their basic health and food necessities until this national emergency is under control, our small businesses can reopen, and our neighbors can return to work.
The Colorado Common Interest Ownership Act (CCIOA) in section 38-33.3-316.3, C.R.S. (Collections - limitations) sets forth the allowance of a payment plan for a homeowner that may be delinquent in their association dues. Please consider working with any homeowner that may be in this situation in negotiating a good-faith and workable plan taking into consideration their financial circumstances given the economic impacts or COVID-19.
It is understandable that HOAs still need to follow their operating processes; however, this is an opportunity for HOAs to show their understanding, compassion, and empathy for our fellow Colorado neighbors in these trying times.
Please visit the HOA Information and Resource Center’s resource pages for HOA board member information and in understanding one’s rights and obligations of living in an HOA.
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