Substitute House Bill No. 5265, effective October 1, 2026, introduces new provisions for unit owners in common interest communities to petition the Superior Court for an independent audit of their association's financial records. A group of unit owners representing at least twenty percent of the votes in the association can request this audit if they can certify a good faith belief in the need for it, provide a signed opinion from a certified public accountant indicating potential financial fraud, and confirm that no audit has been conducted in the past twelve months. The costs of the audit will be borne by the petitioning unit owners, and associations may charge reasonable fees for providing financial records to the auditor.

Additionally, the bill revises disclosure requirements for properties in common interest communities. It replaces a previous subsection with new language that mandates sellers to inform potential buyers about various property-related issues, including the presence of community dues and the necessity of obtaining a "Resale Certificate" for larger communities. The new language emphasizes the importance of understanding the financial health of the community, particularly for properties with more than twelve units, and advises buyers to consult professionals if a resale certificate is unavailable. The bill aims to enhance transparency and accountability in the management of common interest communities.