Hawaii HB972 allows associations to assess impact fees on transient vacation rentals for maintenance, security, administrative costs, and insurance.

Hawaii HB972 amends state statutes to permit boards of directors in zoning districts that allow transient vacation rentals to assess impact fees on unit owners using their units for such rentals. These fees can be used for maintenance and repair of common areas, enhanced security measures, administrative costs, and insurance costs. The board must notify unit owners of the new fee structure and establish procedures for assessing, collecting, and using the fees, including penalties for noncompliance.

Hawaii HB972 allows associations to assess impact fees on transient vacation rentals for maintenance, security, administrative costs, and insurance.

Hawaii HB972 amends state statutes to permit boards of directors in zoning districts that allow transient vacation rentals to assess impact fees on unit owners using their units for such rentals. These fees can be used for maintenance and repair of common areas, enhanced security measures, administrative costs, and insurance costs. The board must notify unit owners of the new fee structure and establish procedures for assessing, collecting, and using the fees, including penalties for noncompliance.