Community Association Manager "CAM" licensing effective July 1, 2015
DENVER (July 1, 2015) – Beginning July 1, anyone who engages in certain defined activities of a “Community Association Manager” relating to the management of a common interest community is required to obtain a license issued by the Division of Real Estate.
The Community Association Manager Practice Act was the result of legislation passed by the Colorado General Assembly and signed into law by Governor Hickenlooper in 2013. Community association managers (“CAMs”) generally perform duties that include inspecting the community for maintenance needs and compliance with community association approved standards, supervising maintenance activities, securing bids for the provision of services, interacting with homeowners as a representative of the community association, noticing and attending board meetings, preparing and presenting financial statements at board meetings, and providing advice to board members.
Only individuals holding a pre-licensing credential, successfully passing the state mandated test, completing a fingerprint-based criminal history background check and meeting the insurance requirements of having in effect both errors and omissions and crime fidelity insurance policies will be issued a license. Additionally, licensed CAMs will be required to obtain continuing professional education before renewing their license.
For any common interest community who has a management agreement in place to pay a fee for the services of a CAM, and the CAM who is subject to licensure has not obtained a license by July 1, pursuant to section 38-33.3-402, C.R.S. the management agreement is void and unenforceable for any period in which the CAM does not have a valid license.
The Division of Real Estate encourages all common interest communities to verify that their manager is properly licensed.
The Division of Real Estate (DRE) is the licensing, regulation and enforcement agency for the real estate broker, appraiser, community association manager and mortgage loan originator industries.
The Department of Regulatory Agencies (DORA) is dedicated to preserving the integrity of the marketplace and is committed to promoting a fair and competitive business environment in Colorado. Consumer protection is our mission. Visit www.dora.colorado.gov for more information or call 303-894-7855 / toll free 1-800-886-7675.