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Governor signs new Condominium Act – Caribbean Business


By on August 19, 2020

(CB)

Law regulating thousands of buildings in Puerto Rico undergoes first significant revision in 17 years, replaces 60-year-old legislation [19659004] SAN JUAN – Puerto Rico Gov. Wanda Vázquez has signed Act 129, establishing a new legal framework regulating the operation and administration of condominiums throughout the island.

The new Condominium Act replaces the previous version, in effect since 1958, and marks the first significant revision to the law in 17 years, according to a press release from the governor's office.

The new law seeks to, among other things, facilitate administrative practices in condominiums and update them to recent economic, sociological and technological changes, the administration said.

As part of the changes in the new law, assemblies between landlords can be convened via email or even chat applications such as WhatsApp in the event of emergencies. Under the previous law, invites had to be sent through certified mail. Second invites are also no longer required, and assemblies can now be held outside of working hours. Meetings can be held electronically under emergency conditions, as well.

Among other changes, utility services can now be suspended if fines are not paid, while fines for Airbnb guests doubled, from $ 100 to $ 200, while reserve funds can now be used for operational expenses in the wake of natural disasters. Also for the first time, administrators will have minimum requirements to serve their positions.

In mid-July, Puerto Rico’s legislature passed House Bill 1874 at the stroke of midnight during its last ordinary session, which led to the condo law.




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