HB 24-1078 brings back a version of Colorado’s previous manager licensure requirement, applying this time to community association management companies, despite the previous requirement being allowed to sunset back in 2019 by Governor Polis. Governor Polis issued a veto statement explaining his thoughts on manager licensing and noted, “the data we have reviewed does not demonstrate that regulating community association managers has had the intended effect of reducing harm to consumers.” Governor Polis also noted that homeowners have been negatively impacted by licensing as the cost of regulation was passed on to them through higher assessments.
Currently, only six states in the country have a form of state-mandated community association manager licensing programs, several of which have considered letting these licensing programs sunset. Instead of creating a new manager licensure program supported by taxpayer funds, we encourage self-regulation and national certification.
Licensing requirements create unnecessary barriers to entry and do not provide consumer protections, especially for immigrants with work authorization, individuals with criminal records, low-income, unemployed, and dislocated workers, as well as veterans and military spouses. It is already the best practice of community association boards to secure a fidelity bond for insurance protections for losses that they incur because of fraudulent acts by community association managers.
Colorado has taken great steps forward to promote a fair and open market for community association management, HB 24-1078 would take the state backward and use up valuable taxpayer funds. Tell the House Committee on Finance to OPPOSE HB 24-1078!
| Want to participate in this hearing either virtually or in person? Visit this link and follow the instructions on screen to sign up to speak during House Committee on Finance hearing on March 7th: https://www2.leg.state.co.us/CLICS/CLICS2024A/commsumm.nsf/signIn.xsp |
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