Rhode Island S2910 mandates structural surveys and reserve studies for condominium associations, requiring funding of reserves at 15% and planning.

Rhode Island S2910 amends the state's condominium law to require associations to conduct structural surveys and reserve studies. These surveys assess the condition of common elements and identify necessary repairs or replacements, while reserve studies evaluate the financial needs for future major repairs. The results must be shared with all unit owners. The bill mandates that associations develop a plan addressing the short-term recommendations of the reserve study, including priorities, funding, and timelines.

Rhode Island S2910 mandates structural surveys and reserve studies for condominium associations, requiring funding of reserves at 15% and planning.

Rhode Island S2910 amends the state's condominium law to require associations to conduct structural surveys and reserve studies. These surveys assess the condition of common elements and identify necessary repairs or replacements, while reserve studies evaluate the financial needs for future major repairs. The results must be shared with all unit owners. The bill mandates that associations develop a plan addressing the short-term recommendations of the reserve study, including priorities, funding, and timelines.