IMPORTANT UPDATE TO - COMMUNITY ASSOCIATION COLLECTION OF DELINQUENT MAINTENANCE FEES THREATENED BY NEW BILL
Our office previously provided an update with respect to S2330, a new Bill proposed in the Senate and the Assembly as a means of providing a degree of financial security to all residents of New Jersey. As our prior blog discussed, the Bill paints with a broad brush in its application to community associations, and apartment building landlords. The impact on these entities, if the measure passes, could be critical.
The Senate met virtually yesterday and tabled S2330 for further consideration. The Bill was also proposed in the Assembly, with an Assembly number A3908. The Assembly met yesterday, and it will likely table the Bill as well.
We advised that our office had reached out to the Senators sponsoring the Bill to request reconsideration of the text of the Bill as it relates to landlord/tenant and community association issues. We also provided contact information for the Senators who sponsored the Bill, to anyone that wanted to reach out. If you have reached out to the Senators on behalf of community associations, you have made a difference already! The Community Association Institute and our office will continue to reach out to the Senators to provide alternative solutions to the issues at hand. We will provide updates as we receive them.
Please continue to reach out to the Senate and Assembly on behalf of community associations. We are recommending that the Legislators create an exemption for community associations or otherwise provide a specific provision related to community associations. Please review our prior letter to the Senate in the link below:
The information in this Client Alert is provided solely for information purposes. It should not be construed as legal advice on any specific matter and is not intended to create an attorney-client relationship. The information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based upon particular circumstances. Each legal matter is unique, and prior results do not guarantee a similar outcome.
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