Rhode Island H7853 restricts monthly common expense increases and limits special assessments for unforeseen costs in condo associations with.

Rhode Island H7853 amends the state's condominium law to restrict increases in monthly common expenses and limit special assessments for unforeseen costs not included in the approved annual budget for common expenses. This applies to condominium associations where the minority of units are deed-restricted. The bill also mandates that associations with deed-restricted units must have executive board members proportionate to the number of deed-restricted and market-rate units. The changes take effect on July 1, 2026.

Rhode Island H7853 restricts monthly common expense increases and limits special assessments for unforeseen costs in condo associations with.

Rhode Island H7853 amends the state's condominium law to restrict increases in monthly common expenses and limit special assessments for unforeseen costs not included in the approved annual budget for common expenses. This applies to condominium associations where the minority of units are deed-restricted. The bill also mandates that associations with deed-restricted units must have executive board members proportionate to the number of deed-restricted and market-rate units. The changes take effect on July 1, 2026.