Restricts increases in monthly common expenses and limit special assessments to cover unforeseen costs not included in the condo association’s approved annual budget for common expenses where the minority of the units are deed-restricted units.

Rhode Island Senate Bill: Condo Fee Limits in Mixed-Income Buildings

This bill would place restrictions on how much condominium associations can raise monthly fees and charge special assessments in certain condo buildings. Specifically, it would apply to condo buildings where some — but fewer than half — of the units are "deed-restricted," meaning they are set aside as affordable housing for lower- or moderate-income residents. In these mixed-income buildings, the bill would cap how much the association can increase regular monthly fees and limit the use of one-time special assessments, which are extra charges used to cover unexpected costs not already included in the association's yearly budget.

The people most directly affected would be the residents living in deed-restricted (affordable) units in these mixed-income condo buildings. Without protections like this, large fee increases or surprise special assessments could make it difficult — or even impossible — for lower-income residents to afford to stay in their homes, even if the unit itself is deed-restricted as affordable. The bill aims to help ensure that affordable units remain genuinely affordable in practice, not just on paper.

It's worth noting that this bill is still in early stages. The Senate Housing and Municipal Government Committee has recommended it be held for further study, meaning lawmakers want more time to examine it before moving forward. A hearing is scheduled for April 2026. The bill does not appear to affect condo buildings where none of the units, or the majority of the units, are deed-restricted.