Colorado homeowners associations will face stricter standards on debt collections and manager licensing under legislation passed this year. That legislation was prompted, in part, by multiple ” horror stories” from the past few years regarding homeowners associations, or HOAs. “We had a $750,000 embezzlement a few years ago … what a black eye for the industry,” said Cici Kesler, president of Association & Community Management, which manages homeowners associations in the metro area.

The debt collection law requires all HOAs to set up a policy detailing basic information for homeowners. HOAs must also offer delinquent homeowners a six-month payment plan at least once before taking severe action.  Read more:http://www.denverpost.com/business/ci_23596582/new-hoa-laws-require-debt-collection-policy-licensed-managers-The-Denver-Post