| Brief Excerpt: | ...This industry comprises establishments primar ily engaged in promoting the interests of their members. The industry excludes religious organiza tions, social advocacy organizations, civic and social organizations, business associations, prof essional organizations, labor unions, and political organizations. The industry includes such th ings as condominium or co-operative owners' associations (which...
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| Description: | A homeowners'association is a legal entity created by a real estate developer for the purpose of developing, managing, selling or administering a community of homes. It is given the authority to enforce the covenants, conditions, and restrictions and to manage the common amenities of the development. It allows the developer to end his responsibility over the community, typically by transferring ownership of the association to the homeowners after selling off a predetermined number of lots.The industry excludes religious organizations, social advocacy organizations, civic and social organizations, business associations, professional organizations, labor unions, and political organizations. The industry includes such things as condominium or co-operative owners'associations (which may be engaged in property management), and homeowner's and condominium associations that do not provide property management.A homeowner association is comprised of two or more homeowners that belong to a mandatory membership organization for the maintenance of commonly-owned real estate and improvements. Organizations range in size from a simple duplex to developments with thousands of detached homes, condominiums and townhouses, which have marinas, golf courses and other recreational facilities to maintain.
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