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HI HB2069
Bill
Status
1/19/2012
Primary Sponsor
Cindy Evans
Click for details
AI Summary
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Prohibits condominium boards from leasing common elements at below fair market rent value to non-apartment/unit owners without approval of 75% of owners.
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Requires leases of common elements without owner approval to have terms not exceeding 5 years and include 60-day termination notice provisions upon end of initial term.
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Charges all direct costs of condominium hotel operations only to unit owners whose units are included in the hotel operations, unless 75% of association owners approve as common expense.
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Applies cost allocation restrictions to both apartment condominiums (514A) and unit condominiums (514B) under Hawaii Revised Statutes.
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Effective July 1, 2012.
Legislative Description
Condominiums; Condominium Hotels; Common Elements
Last Action
(H) Report adopted. referred to the committee(s) on CPC as amended in HD 2 with Representative(s) Awana, Ching, McKelvey, Riviere voting aye with reservations; none voting no (0) and Representative(s) M. Lee, Souki excused (2).
2/16/2012