Common interest realty association

A common interest realty association governs a common interest community, such as a condominium development or timeshare units. The association is responsible for property maintenance and repairs, management services, and other tasks defined in its governing documents, which are frequently subcontracted to a property management company. The association is funded by ongoing member assessments. Members elect the association’s board of directors, which represents their interests in the association.

Related Courses

Real Estate Accounting