An Act regulating condominium associations and management companies
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This bill aims to establish clearer regulations for condominium associations and the management companies that serve them in Massachusetts. It seeks to improve transparency and accountability within these organizations, addressing potential issues related to governance and financial management. The legislation intends to protect condominium owners’ rights and ensure fair practices are followed. Specifically, it focuses on establishing standards for management company conduct and association operations.
Key provisions
- Requires condominium associations to provide owners with detailed financial reports.
- Establishes standards for the conduct of condominium management companies.
- Addresses dispute resolution processes within condominium associations.
- Mandates clear procedures for owner elections and board member selection.
- Creates a process for owners to petition for changes to association rules.
- Requires associations to maintain adequate insurance coverage.
- Outlines guidelines for handling assessments and fees.
- Addresses conflicts of interest for board members and management company representatives.
Who is affected
- Condominium owners
- Condominium associations
- Condominium management companies
- Massachusetts residents living in condominiums
Notable changes
Bill text
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Sponsors
Official sponsors from legislative records.
3 on record
Primary sponsor
William C. Galvin
Cosponsors
Charles Strassman
Arguments
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