What does the term 'turnover' refer to in community associations?

What does the term 'turnover' refer to in community associations?

• A. The transition of board control from the owner-elected group to a developer-appointed group
• B. The change of ownership of properties within the community
• C. The time when residents become involved in community affairs
• D. The handover period from tenants to owners

Answer: (A)

The term 'turnover' in the context of community associations specifically refers to the transition of board control from a developer-appointed group to an owner-elected group. This process is crucial in community associations as it marks the point at which the homeowners take over management responsibilities from the developer. This typically occurs after a certain percentage of the homes are sold or a specific timeline set by state law. During turnover, the homeowners gain the authority to make decisions regarding the management and operations of the community, impacting various aspects such as rules, budgets, and community improvements. This change is intended to empower residents to have a greater say in their living environment and ensure that the community is governed in the interests of those who live there rather than the developers who initially established it. Other choices do address aspects relevant to community associations but do not encapsulate the specific significance of 'turnover' as it relates to control and governance structure in community associations. For example, changes in property ownership and resident involvement are important but do not reflect the governance transition represented by turnover.

The term 'turnover' in the context of community associations specifically refers to the transition of board control from a developer-appointed group to an owner-elected group. This process is crucial in community associations as it marks the point at which the homeowners take over management responsibilities from the developer. This typically occurs after a certain percentage of the homes are sold or a specific timeline set by state law.

During turnover, the homeowners gain the authority to make decisions regarding the management and operations of the community, impacting various aspects such as rules, budgets, and community improvements. This change is intended to empower residents to have a greater say in their living environment and ensure that the community is governed in the interests of those who live there rather than the developers who initially established it.

Other choices do address aspects relevant to community associations but do not encapsulate the specific significance of 'turnover' as it relates to control and governance structure in community associations. For example, changes in property ownership and resident involvement are important but do not reflect the governance transition represented by turnover.