ID H0642

Adds Section 55-116 requiring homeowner's associations to provide property owners with account statements within 5 business days of request, including annual charges, due dates, and unpaid assessments, and bind the association to the amounts stated.

Requires homeowner's associations to disclose all transfer-related fees to property owners by January 1 annually, with fees for the following calendar year not exceeding the disclosed amount and prohibits surcharges or additional fees for property transfers.

Adds Section 55-1528 imposing identical statement of account and fee disclosure requirements on condominium management bodies as applied to homeowner's associations.

Amends Section 55-1507 to require condominium bylaws to include provisions for providing unit owner account statements within 5 business days of notice and payment of a reasonable fee, with reference to the new disclosure requirements.

Prohibits charging fees for expeditiously providing homeowner and unit owner account statements under both provisions.