Existing law requires a homeowners' association to solicit, whenever reasonably possible, at least three bids if the association project is expected to cost: (1) in a common-interest community that consists of less than 1,000 units, 3 percent or more of the annual budget of the association; or (2) in a common-interest community that consists of 1,000 or more units, 1 percent or more of the annual budget of the association. (NRS 116.31086) This bill requires an association to similarly solicit bids, unless any undue delay in the commencement of the association project could exacerbate property damage or pose a risk of injury. This bill also requires an association to award the contract for an association project to the lowest responsive bidder.

Statutes affected:
As Introduced: 116.31086