CAM and CAB licensure is primarily required for which type of property management?

The requirement for CAM (Community Association Manager) and CAB (Community Association Board) licensure is primarily associated with residential community associations. This is because community associations often involve managing common areas, enforcing community rules, and handling the financial aspects of the association, such as dues collection and budgeting.

Residential community associations typically include homeowners' associations (HOAs), condominiums, and other similar developments where residents may share amenities and responsibilities. The managerial tasks in these settings require a thorough understanding of laws, regulations, and best practices pertaining to community living, which is why licensure is mandated.

Licensing ensures that those managing these associations are qualified and knowledgeable about their responsibilities, leading to better governance and management of community resources. This emphasis on regulation stems from the complexities involved in maintaining harmony in community living and managing finances effectively, which is critical for the success of residential community associations.