Companies that manage homeowners’ associations could soon be subject to more regulations.
State Representative Dar’shun Kendrick (D-Lithonia) recently introduced House Bill 1258, legislation she says will “increase accountability for property management firm brokers and community association management brokers.”
“House Bill 1258 is a pivotal step toward enhancing accountability and transparency within property management services,” said Rep. Kendrick. “By empowering the commission to establish reasonable fees and enforce strict regulations, HB 1258 ensures that homeowners’ interests are protected and that property management firms operate with integrity. This bill not only safeguards homeowners’ rights to access vital documentation but also holds violators accountable through substantial fines. It’s a win-win for homeowners and the state, promoting fairness in property management practices.”
House Bill 1258 relates to qualifying brokers of firms performing management services. Specifically, HB 1258 would empower Georgia’s Real Estate Commission to require certain necessary documents to be submitted to the commission when requested.
HB 1258 would also allow the commission to fine brokers of property management firms for violations, with collected fines deposited into the state treasury.
Under HB 1258, any violation may result in license refusal, suspension or revocation and would mandate property management firms to provide requested documents to homeowners within seven business days, with exceptions for legally prohibited documentation.
Firms found in violation could face fines of $10,000 per day, with the commission given authority to enforce through rulemaking.
The full text of HB 1258 may be found here.Representative Dar’shun Kendrick represents the citizens of District 95, which includes portions of DeKalb, Gwinnett and Rockdale counties. She was elected to the House of Representatives in 2010 and currently serves on the Interstate Cooperation, Judiciary Non-Civil, Juvenile Justice, Small Business Development and Technology and Infrastructure Innovation committees.
