Bill > S05089

This bill creates a comprehensive residential condominium owner's bill of rights for large condominium associations (with 3,500 or more units) that establishes six key protections for unit owners. These protections include the right to transparency, which requires associations to provide complete and timely financial statements, meeting minutes, and detailed expense reports; the right to timely decisions, mandating that the board process applications and resolve disputes expeditiously and provide written explanations; voting rights, such as quickly filling board vacancies, publicly posting election results, and requiring board members who sell their unit to resign; the right to notice, ensuring all meetings are prominently posted; and the right against extraordinary expenses, which requires the board to propose and vote on expense limits every five years and obtain unit owner approval for significant non-emergency expenses. Additionally, the bill empowers the Attorney General to investigate and enforce these provisions, and requires the Attorney General to create a handbook within six months explaining unit owners' rights. The law would take effect immediately, with existing condominium associations having one year to amend their organizational documents to comply with the new requirements.

Housing and Urban Affairs, Justice

https://www.nysenate.gov/legislation/bills/2025/S5089