Requires licensure of community management entity that contracts to conduct management services for planned real estate development association.

This bill requires property management companies (called "community management entities") to obtain a state license before managing homeowner associations, condominiums, or cooperative communities in New Jersey. It mandates the Commissioner of Community Affairs to establish licensing requirements, including experience standards, and prohibits new contracts without a license. Violations carry penalties up to $4,000 per contract. The law directly affects management firms working with planned real estate developments, defined as communities governed by homeowner associations, condos, or co-ops. The licensing system takes effect seven months after the bill is enacted.