News

A new law S0549aa.pdf requires operators of hotels or short-term rentals of 30 days or less:

▪to complete human trafficking prevention training that is approved and/or offered by the RI Department of Business Regulation. 

▪Training must be completed within 180 days of employment or the first listing of a short-term rental property on a hosting platform and by the end of every calendar year after that.  This includes all third-party hosting sites, like real estate brokerage’s websites, Airbnb, VRBO, etc.

 A new Rhode Island law 936 (Public Law 186) took effect that prohibits anyone who is licensed as a mortgage loan originator and a real estate broker or salesperson, from handling and being compensated to handle both roles in the same transaction. The law does not prevent individuals from holding both types of licenses as long as they’re not used in the same transaction. 

Two new Rhode Island condominium laws went into effect upon passage on June 24, 2025. The first requires a condominium executive board to hold a special meeting if requested by 20% of the unit owners or any other lower percentage required in the condominium bylaws, and the purpose of the meeting is to discuss an issue on which owners have a right to vote.

Enacted on June 13, 2025, a new law  (054) prohibits the use and recording of service agreements that would be unfair to existing or future owners of residential property with 1 – 4 dwelling units that is used mainly for “personal, family or household purposes.”  The law, prohibits agreements for the maintenance of, purchase, or sale of residential real estate that can’t be completed within a year, with some exemptions. 

Senate Bill No. 626 (Chapter 100) went into effect upon passage on June 23, 2025 and requires the towns and cities to incorporate into maps all public rights of ways, that have been designated by the Coastal Resources Management Council to reach tidal areas, including shoreline and beach access.

Real estate licensees have been defrauded of more than $15 million and are a growing target for criminals, according to Mark Edgren, a Network Intrusion Forensic Analyst with the Secret Service, who recently gave a presentation for the National Association of REALTORS®. These cryptocurrency scammers use psychological tactics and are prepared to wait months for a payoff. Once the funds are taken, the scammers transfer around the world using blockchain and other types of cryptocurrency...

WARWICK, R.I. – June 18, 2025 – Rhode Island’s May single-family home median price of $512,750 eclipsed the $460,000 price of May 2024 and was $47,750 more than that seen at the beginning of this year. The median sales price of multifamily homes also reached a new high at $590,000, marking the first time that the price in both sectors topped $500,000. At $390,000, condominium sales saw an 11.5% year-over-year gain.

Starting on January 30, 2025, a new law went into effect to prohibit anyone but a licensed electrician from opening electrical panels and performing certain tests. 

Although the interpretation of the law was relaxed somewhat in a February 19, 2025 memo from the Board of Examiners for Electricians, the Board still interprets the law to prohibit home inspectors from opening and inspecting electrical panels.

Could you be sued or criminally prosecuted for fraudulently listing a property without the authorization of the actual owner?

Failure to take basic steps to confirm a seller’s identity can result in losses of hundreds of thousands of dollars for buyers who close on these fraudulent listings;  a title nightmare for the true owners; and the risk of costly lawsuits and even criminal prosecution for listing brokers who fail to perform due diligence before taking a listing.

WARWICK, R.I. – May 22, 2025 – Rhode Island’s housing shortage is showing some signs of improvement according to data released today by the Rhode Island Association of Realtors. The number of single-family homes listed for sale in April grew 28.6% year-over-year, the largest increase in the past six months.