Posts Tagged ‘property management’


Mar. 2015

Colorado Common Interest Community Managers Must Be Licensed By 7/1/2015!


Colorado common interest community managers will be required by law to be licensed by the Division of Real Estate as of July 1.

Posted By: Rob McGough

HB 13-1277, recently codified at C.R.S. §12-61-1001, et seq. and effective January 1, 2015, requires that persons responsible for the management of commercial common interest communities (residential and commercial) be now licensed by the Colorado Division of Real Estate. Per the statute, such licensure is required by July 1, 2015. Due to backlash from the real estate community, the Colorado House introduced HB 15-40, which would do away with the licensure requirements for CEO’s and executives

Who Must Be Licensed

The Community Association Manager Licensing Statute institutes new licensure requirements for “any person, firm, partnership, limited liability company, association, or corporation,” including

(I) the chief executive officer of a business entity that employs individuals or contracts with other business entities to perform community association management services, and

(II) any executive of a business entity who has direct supervision or oversight of an individual who performs community association management services,

who perform more than one of the community association management practices in consideration of compensation by fee, commission, salary, or anything else of value or with the intention of receiving or collecting such compensation, engages in or offers or attempts to engage in community management in Colorado. C.R.S. §12-61-1001(4)(a)

“Community association management” is defined by the statute as:

(a) Receiving, depositing, controlling, or disbursing funds of the common interest community, preparing budgets, or preparing other financial documents;

(b) Assisting in the creation and implementation of a reserve program for the replacement of capital assets;

(c) Assisting in the provision of notice or conduct of meetings of board members or unit owners;

(d) Contracting for or coordinating maintenance of property and facilities of the common interest community;

(e) Conducting property inspections, administering applications for architectural review, and keeping records of violations of the governing documents of the common interest community; and

(f) Performing other services relating to the day-to-day operation of the common interest community.

C.R.S. §12-61-1001(3).

Managers of commercial common interest communities are not specifically exempt from the community association manager program licensure requirements. See Community Association Manager (CAM) Program FAQs, available at http://cdn.colorado.gov/cs/Satellite/DORA-DRE/CBON/DORA/1251655510774 (“The community association manager licensing statute encompasses the licensure of professional managers that manage various types of common interest communities, including, but not limited to residential, mixed-use, commercial, timeshare and condo hotel communities”).

Education and Examination Requirements

  • Fingerprint-based Criminal History Background Check:

Prior to submitting an application, each applicant must submit a set of fingerprints to the Colorado Bureau of Investigation (CBI) for the purpose of conducting a Colorado and national fingerprint-based criminal history background check utilizing records of CBI and the FBI.

  •  Pre-Licensing Credentials:

The Division of Real Estate has developed a 24 hour course content outline to be used by third party education providers; to include occupational schools, trade associations, and other exempt providers. After successful completion of the Division created 24 hour course, an applicant for licensure will have satisfied the education requirements. This course is an alternative to holding one of the credentials identified in statute and therefore, is not a requirement for anyone holding a CMCA, AMS, or PCAM credential.

  •  Approved Education Providers:

VAN EDUCATION CENTER, LLC

5345 Arapahoe Ave., Ste. 7

Boulder, CO 80303

(800) 455-8348

http://www.vaned.com/index.cfm/fa/cam/fa2/course

Colorado Real Estate School

4155 E. Jewell Ave., Ste. 400

Denver, CO 80222

(303) 363-9882

http://creschool.com/

CAM-HOA-LICENSING-COURSE COMMUNITY ASSOCIATION INSTITUTE (CAI)*

6402 Arlington Blvd., Suite 500

Falls Church, VA 22042

(CAMICB optional credentialed version which includes the additional 8 hours of state specific education requirements)

(888) 224-4321

http://www.caionline.org/events/managers/pmdp/Pages/M100.aspx

*An applicant wanting to sit for the state examination who doesn’t hold a recognized credential may do so by successfully completing the “Colorado Edition” of the M-100 course which incorporates an additional 8 hours of state specific education. The course provider completion certificate will specify “Colorado Edition.”

REAL ESTATE TRAINING CENTER OF COLORADO, INC.

3110 S. Wadsworth Blvd., Suite 102

Lakewood, CO 80227

(303) 421-9078

http://www.realestatetrainingcenter.us

AMERICAN REAL ESTATE COLLEGE

7651 W. 41st Ave., Ste. 202

Wheat Ridge, CO 80033

(303) 426-6443

http://www.americanrealestatecollege.com

INSTITUTE OF REAL ESTATE MANAGEMENT (IREM)*

13377 Race Street

Thornton, CO 80241

(303) 940-9442

http://www.iremdenver.org

*Applicants holding a Certified Property Management (CPM) designation conferred by the Institute of Real Estate Management (IREM) AND successfully completing course #5246 – Governance and Documents for Owners Associations and course # 5245 – Colorado Laws and Rules administered through Van Education Center will satisfy the qualifying education requirements. Not applicable for any candidates who obtained their CPM through the “Fast Track” method.