Which document outlines the basic operational rules for a condominium?

The correct answer is Bylaws, as this document serves as the governing framework for the operation and management of a condominium association. Bylaws detail the rules and procedures for the governance of the condo community, including the management structure, the duties and powers of the board of directors, and the rights and responsibilities of the unit owners. They are essential for ensuring that the condominium operates smoothly and in accordance with established guidelines.

While the declaration is also important, as it formally establishes the condominium and provides specific information about the property, its main focus is on the description of the units and common areas rather than the operational rules. The master deed typically refers to the legal document that formally creates the condominium and describes the property layout, whereas the rules and regulations usually cover specific, everyday operational details that can be amended more easily than the bylaws. Thus, the bylaws are the primary document that outlines the foundational operational rules for a condominium.