Revises provisions relating to common-interest communities. (BDR 10-639)

SB 339 updates regulations for homeowners associations (HOAs) and similar common-interest communities in Nevada. It requires background checks for board candidates, mandates annual reserve studies (instead of every five years) to ensure sufficient funds for repairs, and creates a training program for board members within six months of joining. The Real Estate Division gains authority to investigate and audit an association’s finances if it suspects poor record-keeping, and certain legal disputes involving HOAs must now go to small claims court instead of mandatory mediation. These changes directly affect HOAs, their boards, and residents who pay association fees.