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HI HB252

HI HB252
Relating To Managing Agents.


summary

Introduced
01/17/2025
In Committee
02/14/2025
Crossed Over
Passed
Dead

Introduced Session

2025 Regular Session

Bill Summary

Requires managing agents for residential condominium properties over seventy-five feet in height to have commercial property management experience. Effective 7/1/3000. (HD1)

AI Summary

This bill requires managing agents for residential condominium properties over seventy-five feet in height to have commercial property management experience, addressing concerns about the expertise of volunteer board members managing high-rise properties. The legislation amends existing law by adding a new requirement to Section 514B-132 of Hawaii Revised Statutes, which already mandates that managing agents be licensed real estate brokers and meet several other regulatory requirements. The bill's findings indicate that current regulations are insufficient to protect association board members and unit owners from potential incompetence, fraud, or misrepresentation. Specifically, the new provision adds a seventh requirement for managing agents, stipulating that for residential condominium properties exceeding 75 feet in height, the agent must demonstrate experience in commercial property management. This change aims to ensure that high-rise residential properties are managed by professionals with appropriate expertise in complex property management, potentially reducing the risk of financial losses and improper management. The bill is set to take effect on July 1, 3000 (which appears to be a placeholder date).

Committee Categories

Business and Industry, Housing and Urban Affairs

Sponsors (2)

Last Action

Passed Second Reading as amended in HD 1 and referred to the committee(s) on CPC with none voting aye with reservations; none voting no (0) and Representative(s) Cochran, Matayoshi, Poepoe, Ward excused (4). (on 02/14/2025)

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