NRS 117 is applicable to which type of communities?

NRS 117 is specifically designed to govern the establishment and management of condominiums in Nevada. This legislation outlines the rights and responsibilities of condominium owners, as well as the procedures for the creation and operation of condominium associations.

The focus of NRS 117 includes provisions on the organization of the governing body (the association), financial management, maintenance responsibilities, and the rights of unit owners. It ensures that owners have a clear understanding of their entitlement to shared facilities and the obligations they have toward maintaining common areas.

While the other community types listed, such as planned communities, cooperatives, and leasehold HOAs, have their own regulatory frameworks, NRS 117 is specifically tailored to address the nuances and specific needs of condominiums. Therefore, it is important for community managers and owners to be familiar with this statute when dealing with condominium-related matters.