Community property managers must be licensed by July 1, 2015 and must pass an exam to become licensed. Recent news reports stated the pass rate for that exam is only about 75%. On the one hand, those numbers seem to reflect a general lack of knowledge among a quarter of those people seeking to manage community associations in Colorado. However, a deeper analysis of the results, released May 18, 2015, reveals the value of having your HOA managed by a property manager with a CMCA, AMS, or PCAM designation. For individuals holding one or more of those designations, the pass rate on the “general portion” of the exam (testing core competencies) was 94% and on the “Colorado law” portion was 88%. These designations, awarded by the Community Association Institute or its affiliate CAMICB, stand for Certified Manager of Community Associations, Association Management Specialist, and Professional Community Association Manager. In fact, the CMCA, AMS, and PCAM designations are now being recognized as so meaningful that Colorado will only require those individuals to pass the “Colorado law” portion of the exam once HB 13-1277, expected to be signed by the governor shortly, takes effect. It has long been our opinion that nearly every HOA would benefit from experienced, professional property managers. These individuals can provide invaluable guidance to the volunteer homeowners on the board of directors and prevent or limit many common complaints against HOAs (poor communication, inconsistent enforcement of covenants, failure to follow bylaws or CCIOA, and so on). The excellent pass rates posted by individuals who have taken the time and energy to obtain professionally recognized designations in their field should reassure owners in HOAs managed by such individuals – and give pause to owners who are not.
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