A planned unit development or planned development (PUD) is defined as a mixed-use residential development of single-family dwellings in conjunction with rental, condominium, cooperative or town house properties. Precise definitions vary by local area. PUDS are characterized by the following:
1. common ownership of private residential property;
2. required membership of all owners in an association which controls use of the common property;
3. governing documents which establish the procedures for governing the association, the rules which the owners must follow in the use of their individual lots or units as well as the common properties; and
4. a method for making assessments on the owners to finance the association and maintenance of the common properties.