Rhode Island Commission To Study State's Condo Laws

PROVIDENCE, RI — A special commission will study Rhode Island's condominium laws.

The 16-member commission will consider modernization of and updates to the state’s Condominium Act.

The commission was established under a bill sponsored by state Rep. June S. Speakman, D-Warren and Bristol, and state Sen. Bridget Valverde, D-North Kingstown, East Greenwich and South Kingstown.

Gov. Dan McKee signed the legislation Friday.

The commission includes state representatives and state senators, the state’s housing secretary and stakeholders from groups representing housing interests, including municipal leaders, mortgage lenders, insurers, builders, condo association management service providers and condo owners, according to a media release.

"The group is to study existing challenges connected to current condominium laws; potential changes to allow for greater participation in condominium governance; efficiency, transparency and accountability within condominium management and improved long-term affordability of condos for all owners and associations," the release said.

“While condominiums are generally considered a more affordable option than the traditional single-family home, the Housing Affordability Commission has learned that they are, in some instances, becoming less affordable due to rising fees and escalating maintenance and insurance costs," Speakman said in the release.

"The commission has also heard testimony from condo owners about management, budgeting and governance in some communities," Speakman said.

“There are many areas of condo law that could use updating, but in particular, there needs to be some consideration of cost-containment for deed-restricted units that are supposed to be affordable," Valverde said in the release. "People shouldn’t be priced out of 'affordable' units by unaffordable condo fees that they can’t control.”

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