What is a common interest community (CIC)?

A common interest community (CIC) is best described as a community that allows homeownership without certain responsibilities typically associated with property ownership. In a CIC, residents often own their individual units but share ownership of common areas, such as parks, pools, or gyms. This arrangement can relieve residents of certain burdens, such as exterior maintenance and landscaping for common areas, which are often managed by a homeowners' association.

While the idea of shared responsibilities is a defining feature of a CIC, option C brings in the aspect of management by a homeowners' association, which is indeed common in these communities. However, it does not capture the essence of the CIC as clearly as the correct answer. Option A describes a rental property, which does not align with the concept of ownership in a CIC. Option D mentions public parks and recreation areas, which do not represent the ownership aspect central to common interest communities. Thus, option B effectively highlights the unique characteristic of CICs, distinguishing them from more traditional homeownership models.