Rhode Island H7851 mandates structural surveys and reserve studies for condominiums over 20 years old, requiring funding of reserves at 15% and.

Rhode Island H7851 amends the state's condominium law to require associations of condominiums that are 20 years old or older to commission structural conditions surveys and reserve studies. These studies must identify safety hazards, necessary repairs, and a timeline for completion. The results of these surveys and studies must be shared with all unit owners and included in sales certificates for new unit owners. The executive board of the association must develop a plan addressing the short-term recommendations of the reserve study, which should be shared with all unit owners.

Rhode Island H7851 mandates structural surveys and reserve studies for condominiums over 20 years old, requiring funding of reserves at 15% and.

Rhode Island H7851 amends the state's condominium law to require associations of condominiums that are 20 years old or older to commission structural conditions surveys and reserve studies. These studies must identify safety hazards, necessary repairs, and a timeline for completion. The results of these surveys and studies must be shared with all unit owners and included in sales certificates for new unit owners. The executive board of the association must develop a plan addressing the short-term recommendations of the reserve study, which should be shared with all unit owners.