Common Interest Development

Overview: A common interest development (CID) is a type of housing which combines the individual ownership of private dwellings with the shared ownership of common facilities. The common facilities can range from roads and water systems to clubhouses, swimming pools and even 18-hole golf courses. CIDs provide a system of self-governance through a community association, sometimes called a homeowner association. The association has the authority to enforce special rules called CC&Rs (covenants, conditions and restrictions) and to raise money through regular and special assessments. Common interest developments come in all shapes and sizes. Individual residents own the airspace and inside wall surfaces of their housing units. There are some distinct advantages and disadvantages to living in a common interest development. Because of the shared ownership feature, CID residents enjoy such things as dependable water systems, well-maintained roadways, open space and even ocean access that they may not be able to afford otherwise. Before buying the request has be made for a complete information packet from the community association. One should talk to the future neighbors, if possible, and find out if the association is running smoothly or if there are on-going feuds and petty disputes which may indicate a dysfunctional community association.

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Format: HTML | Date: Jan 2003 | Pages: 1