Define: Common Area

Common Area
Common Area
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Quick Summary of Common Area

Common area refers to the shared spaces within a property or building that are accessible to all tenants or occupants. These areas are typically maintained by the property owner or management company and may include facilities such as lobbies, hallways, elevators, stairwells, parking lots, and recreational areas. Common areas are used by multiple tenants and serve as a means of access to individual units or spaces. The maintenance, repair, and upkeep of common areas are often governed by agreements or rules established by the property owner or outlined in lease agreements.

What is the dictionary definition of Common Area?
Dictionary Definition of Common Area
n. in condominium and some cooperative housing projects, the areas not owned by an individual owner of the condominium or cooperative residence, but shared by all owners, either by percentage interest or owned by the management organization. Common areas may include recreation facilities, outdoor space, parking, landscaping, fences, laundry rooms and all other jointly used space. Management is by a homeowners' association or cooperative board, which collects assessments from the owners and pays for upkeep, some insurance, maintenance and reserves for replacement of improvements in the common area. This can also refer to the area in a shopping centre or mall outside of the individual stores, for which each business pays a share of maintenance based on the percentage of total store space occupied.
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This glossary post was last updated: 29th March, 2024.

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