This bill establishes new responsibilities for the Department of Community Affairs (DCA) and property management entities regarding the distribution of inspection information for residential rental properties and planned real estate development associations. It defines key terms such as "property management entity," which refers to individuals or organizations that manage properties for owners or associations, and "residential rental property," which includes multiple dwellings. The bill mandates that property management entities must provide the DCA with the contact information of each residential rental property owner and the executive board of each association they serve within 15 business days of the bill's effective date. Additionally, any changes to this contact information must also be reported within the same timeframe.

The bill outlines penalties for property management entities that fail to comply with these requirements, stating that they will be responsible for any fines or penalties incurred due to the lack of communication regarding inspection information. If non-compliance is repeated or negligent, the DCA is authorized to inform the New Jersey Real Estate Commission, which may revoke the property management entity's license. Furthermore, the DCA is tasked with creating and maintaining a database of contact information to facilitate the distribution of inspection information, ensuring that it is accessible to relevant enforcing agencies and inspectors. The bill is set to take effect six months after enactment, with regulations to be adopted by the commissioner within five months.