House Bill 24-1337
Concerning the rights of a unit owner in a common interest community in relation to the collection of amounts owed by the unit owner to the common interest community.
In common interest communities for real property, current law allows a unit owners' association (association) to require, without starting a legal proceeding, a unit owner to reimburse the association for collection costs, attorney fees, or other costs resulting from the owner failing to timely pay assessments or other money owed. The bill limits the reimbursement amount for attorney fees to $5,000 or 50% of the original money owed.