The Colorado Common Interest Property Act (CCIOA) provides clear criteria for the emergency expansion of shelters and allows operators to offer various types of accommodation to help guests. When developing a real estate project that includes residential units or involves shared properties, it is important to consider how the CCIOA can be applied. According to the CCIOA, a “community of common interest” is defined as real estate described in a statement in which a person, by virtue of their ownership of a unit, is required to pay real estate taxes, insurance premiums, maintenance or improvement of other real estate described in the statement. In the case of Association SFDs, Association townhouses and non-association SFDs, each purchaser buys a simple fee on the property described in the relevant lot lines and that extends from the center of the earth to the sky, subject to any locally required subdivision plan and to the medianera and cross-easement agreement.
When creating “airspace units”, surveyors usually request more information from the architect who prepares the construction documents and from the developer's advice on the legal basis of the CCIOA that allows such a map to be recorded without the units being substantially complete from a structural point of view. Even in condominiums, the statement usually states that the common elements pass along with the title to the property to a unit in which only the unit is mentioned in the legal description of the deed. Investing in a vacation rental in Fort Collins can be an excellent opportunity, but investors should choose their location carefully to ensure that short-term rentals that aren't occupied by their landlords are legal. While they face zoning restrictions, it's feasible to invest in short-term rentals that aren't occupied by their landlords in Colorado Springs.
This makes Adam County an ideal place for Airbnb investors in Colorado, where many markets face significant restrictions for full-time, out-of-state investors. Common elements include the right to have the building containing the condominium units occupy the land below it. Title companies often want to include a reference to a “leased asset” somewhere in Annex A of the title policy to make it clear that owners of a share in a unit are subject to the terms of the land lease, in addition to any SPC statement, map, articles and statutes of an Association. Denver Public Schools estimates that approximately 2,000 students become homeless each year, many of whom live in shelters or other emergency housing.
A community of common interest is not a condominium unless undivided interests in common elements lie with unit owners. Denver's short-term rental laws make it one of Colorado's most restrictive markets for investing in vacation rentals. The City of Denver defines short-term rental as providing accommodation to guests for less than 30 consecutive days in exchange for remuneration. In both Association SFD and Association Townhomes, buyers purchase a simple interest fee on the property limited by lot boundaries and extending “from center of earth to sky”, subject to mandatory membership rights and obligations to Association and, in case of Association's townhouses, to partisan wall agreement.
In condominium communities, unit owners own their units along with an undivided interest in common items.