HB252

Requires managing agents for residential condominium properties over 75 feet in height to have commercial property management experience.

This bill amends the qualifications for managing agents of residential condominium properties over 75 feet in height. It requires these managing agents to have commercial property management experience. The bill also mandates that managing agents maintain a fidelity bond, report changes to the commission, and pay fees. Failure to meet these requirements may result in termination of registration. The purpose is to protect association board members and unit owners from incompetence, negligence, and lack of property management experience.