Question

Property management companies that specialize in managing common interest developments (CIDs) are known as ____

A) Homeowners Association (HOA) management companies.
B) Commercial property management companies.
C) Residential rental management companies.
D) Property Development Agency (PDA) management companies.

Answer 1

The correct answer is A) Homeowners Association (HOA) management companies, which specialize in managing common interest developments like condominiums, townhouses, and planned communities.

Step-by-step explanation:

Property management companies that specialize in managing common interest developments (CIDs) are known as Homeowners Association (HOA) management companies.

The correct answer to the student's question is A) Homeowners Association (HOA) management companies. These companies handle a variety of tasks including the enforcement of community rules, maintenance of common areas, and management of finances for the HOA. They work closely with the HOA board to ensure that the property is well maintained and that the community's regulations are followed.