A condominium is a single unit of real estate—usually a home or residence—in a multi-unit residential development in which each owner of a unit has both a separate ownership interest (often everything inside the front door)—and a common ownership interest (with other unit owners) in the common areas of the property outside the front door—such as roofs, hallways, driveways, walkways, stairways, stucco, brick, paint, stone, and landscaping.

A condominium development is usually governed by a homeowners’ association (HOA) through its board of directors, elected by the homeowners as provided by the HOA’s declaration and bylaws. Unit owners or homeowners in the association are required to pay monthly HOA dues for the maintenance and repair of the common areas of the property and its insurance.

In Nevada, condominium ownership and governance are regulated under the Nevada Revised Statutes (NRS), specifically under Chapter 116, also known as the Uniform Common-Interest Ownership Act. Each condominium unit owner has an individual ownership interest in their unit and a shared interest in the common elements of the property, such as lobbies, pools, and other amenities. The common areas are maintained through fees collected by the homeowners' association (HOA), which is responsible for the upkeep and repair of these areas. The HOA is typically managed by a board of directors elected by the unit owners. The board's powers and responsibilities, along with the rights and obligations of the unit owners, are outlined in the HOA's declaration and bylaws. These governing documents, along with state law, dictate how the HOA operates, including the collection of dues, enforcement of community rules, and handling of disputes. Nevada law also provides specific regulations regarding the creation, alteration, and management of condominiums, ensuring that the rights of unit owners are protected while promoting the efficient operation of the condominium development.