WA SB5129

Extends Chapter 64.90 RCW (Washington Uniform Common Interest Ownership Act) to apply to all common interest communities created before July 1, 2018, effective January 1, 2028, with certain provisions applying immediately to pre-2018 communities including requirements for electric vehicle charging stations, heat pumps, budgets, and reserve studies

Expands the "small community" exemption from 12 to 50 units and increases the maximum annual assessment threshold from $300 to $1,000 for plat or miscellaneous communities not subject to development rights to qualify for reduced regulatory requirements

Establishes detailed rules for reserve fund accounts, requiring funds be held in interest-bearing accounts at federally regulated financial institutions, with specific requirements for investments in securities requiring board approval, budget ratification, and administration by qualified fiduciaries

Strengthens meeting requirements by mandating boards allow at least 15 minutes for unit owner comments at the beginning of meetings, requiring 90-second minimum speaking time per owner, and permitting telephonic/video meetings with roll call voting and telephone participation options

Allows buyers to waive receipt of resale certificates when unavailable (such as when associations fail to respond within 10 days or are functionally inactive), and provides buyers 5 days to cancel contracts after receiving resale certificates