Hawaii SB1046 mandates managing agents to report non-compliance with budget and reserve requirements to unit owners and the real estate commission.

Hawaii SB1046 amends existing law to require managing agents of condominium associations to report to unit owners and the real estate commission when an association fails to comply with budget and replacement reserves requirements. The bill specifies that managing agents must provide detailed information about the association's budget, including estimated revenues and expenses, and the computation of replacement reserves assessments. It also mandates that managing agents notify unit owners and the real estate commission if the association board fails to comply with these requirements.

Hawaii SB1046 mandates managing agents to report non-compliance with budget and reserve requirements to unit owners and the real estate commission.

Hawaii SB1046 amends existing law to require managing agents of condominium associations to report to unit owners and the real estate commission when an association fails to comply with budget and replacement reserves requirements. The bill specifies that managing agents must provide detailed information about the association's budget, including estimated revenues and expenses, and the computation of replacement reserves assessments. It also mandates that managing agents notify unit owners and the real estate commission if the association board fails to comply with these requirements.