Is Legislation on Rental Restrictions and Proxies Next?
As we know, legislation affecting associations here in Colorado generally comes about because of alleged abuses in the industry and vocal owners who feel their rights are being unjustly infringed. The attached story seems to have all the makings for potential legislation. When an owner didn't like the actions being taken by his community (short-term rental restrictions), he decided to fight back. He apparently obtained a significant number of proxies from other owners and used these proxies to remove the board who was making decisions he didn't like. The result is a questioning of proxies, the role of proxies in associations and just how much power boards and owners should have with respect to basic property rights.