Community Association Management
What changed between versions
Increased mandatory management contract thresholds from $500,000 annual revenue to $750,000 annual revenue and added a 100+ unit requirement for condominiums and cooperatives.
Added certification requirements for community association managers, requiring certification from recognized industry bodies (CAMICB or CAI) for associations meeting the new thresholds.
Added new requirements for cooperative associations to respond to unit owner inquiries within 30 days and include specific provisions about board member eligibility and criminal convictions.
Added new section requiring associations with 100+ parcels to contract with certified management firms, expanding coverage to include parcel-based communities.
Expanded board member duties to include verifying both licensing and certification of management firms before entering contracts.
Added specific certification standards referencing Community Association Managers International Certification Board and Community Associations Institute credentials.