Today, 70 million Americans live in 344,500 common-interest communities. Even if you haven’t lived in a condo, co-op, or HOA, chances are you’ve at least heard of these communities. Admittedly, those who live in, volunteer in, and work for common-interest communities tend to throw around terms like “ARC,” “CC&Rs,” “D&O” or “CMCA” that make things sound more complicated than they really are. So let’s pull back the curtain on some important terms related to living in and working in community associations.
Types of communities
CA: Community Association
CID: Common-Interest Development
HOA: Homeowners Association
PD: Planned Development
POA: Property Owners Association
PUD: Planned Unit Development
TOA: Townhouse Owners Association
Community leadership, governance and operations
ARC: Architectural Review Committee
BOD: Board of Directors
BOT: Board of Trustees
CC&Rs: Covenants, Conditions and Restrictions
D&O: Directors & Officers liability insurance
E&O: Errors & Omissions insurance
RFP: Request for Proposal
SOP: Standard Operating Procedures
General CAI terms
CAMICB: Community Association Manager International Certification Board, a sister organization to CAI.
FCAR: Foundation for Community Association Research, also a CAI affiliate
Designations, Certifications, and Accreditations
AAMC: Accredited Association Management Company
AMS: Association Management Specialist
CIRMS: Community Insurance & Risk Management Specialist
CMCA: Certified Manager of Community Associations
LSM: Large-Scale Manager
PCAM: Professional Community Association Manager
RS: Reserve Specialist
Whatever the acronym, all community associations—CA, condo, HOA, POA, TOA, etc.—share a few essential goals: preserving the nature and character of the community, providing services and amenities to residents, protecting property values and meeting the established expectations of owners.
Stumped by other acronyms or industry terms? Ask a question in the comments below.
The post HOAs, BOTs, CC&Rs, and more: Defining community association terms appeared first on Ungated: Community Associations Institute Blog.