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DE HB5
Bill
Status
9/15/2021
Primary Sponsor
Kimberly Williams
Click for details
AI Summary
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Community owners must provide 90-day written notice before rent increases to affected homeowners, homeowners' associations, and the Delaware Manufactured Home Relocation Authority, identifying affected homeowners by lot number, name, group, or phase.
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If proposed rent increase exceeds the Consumer Price Index for Urban Consumers (CPI-U), the Authority must approve a final meeting between the community owner and affected homeowners within 30 days of the notice mailing to discuss reasons for the increase.
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Community owners must disclose in writing all material factors for the rent increase, including market rent data with ranges, comparability information, data timeliness, and supporting financial documents.
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Affected homeowners or homeowners' associations may petition for nonbinding arbitration within 30 days after the final meeting; each party pays $250 to the arbitration fund, with the Authority covering costs exceeding $500.
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Designated representatives including homeowners' attorneys, homeowners' association attorneys, Delaware Manufactured Home Owners Association representatives, elected officials, and Authority Board representatives may attend final meetings.
Legislative Description
An Act To Amend Title 25 Of The Delaware Code Relating To Rent Increase Dispute Resolution.
Last Action
Signed by Governor
9/15/2021