Denver lawmakers tackle HOA foreclosure practices

Homeowners associations in Denver could face a new batch of regulations in an attempt to limit predatory practices.

Why it matters: There are currently no rules in Denver requiring HOAs to notify owners about property foreclosures, leaving homeowners in peril of potentially losing their homes.

Why now: Reports from March detailed the Green Valley Ranch Master HOA was threatening owners with foreclosure and fines over things like a car parked on a concrete pad and oil stains on a driveway.

What they're saying: One city official referred to the Green Valley Ranch HOA as "predatory."

• Meanwhile, Denver City Council president Stacie Gilmore wrote to Gov. Jared Polis and Attorney General Phil Weiser in March requesting a probe into the HOA's practices.

Driving the news: The Denver City Council will this week consider a bill that would make it a requirement for HOAs to give homeowners a 30-day notice before initiating a foreclosure, Gilmore told Axios Denver.

• The bill also requires HOAs to provide resources to help homeowners avoid losing their property.
• Gilmore said Denver's proposal complements a bill passed by the state Legislature this session allowing more oversight of HOAs.

What's next: The proposal will be presented Wednesday at the safety and housing committee.

• The bill could be adopted as soon as June 20.
• If passed, it would go into effect starting Aug. 30.