What are the state requirements on HOA dues, such as notification of increase. Budget reports availability.

Thank you for reaching out with your questions. I'm happy to explain the state law requirements governing key aspects of homeowners' association operations.

Colorado requirements regarding HOA dues are found in C.R.S § 38-33.3-315. They are allocated according to each HOA's declaration and must be assessed against all units in the HOA. Assessment increases are published in the budget each year, and the budget can be ratified by homeowners. If homeowners do not take any action to approve the budget, it is deemed approved by the unit owners.

Regarding access to budgets and financials, your HOA must keep detailed financial records and make them available to you upon request, including annual disclosures. Beyond the annual disclosure requirements, Colorado law grants unit owners the right to examine and copy association records at any time. C.R.S. 38-33.3-317. 

Importantly, you have the right to access these records as a unit owner without having to justify why you want to see them. 

If you believe your HOA is not complying with these requirements, you may want to start by submitting a written request to the board or management company specifically referencing your rights under Colorado law. If the association continues to fail to comply, you have legal remedies available to you.

If you have additional questions or need assistance with a specific situation involving your HOA, please don't hesitate to reach out for a consultation. You can call our office at 303-688-0944 or book online.