> Real Estate Glossary




  Common Areas

Those portions of a building, land, and amenities owned (or managed) by a planned unit development (PUD) or condominium project's homeowners' association (or a cooperative project's cooperative corporation) that are used by all of the unit owners, who share in the common expenses of their operation and maintenance. Common areas include swimming pools, tennis courts, and other recreational facilities, as well as common corridors of buildings, parking areas, means of ingress and egress, etc.

 

[ Back To Real Estate Glossary ]

Locally Owned Boutique Real Estate Company


Featured Homes | Featured Lots & Land | Search Local MLS | Contact Office | Our Agents | Mortgage Calculator | Mortgage Rates | Real Estate News | Community Info/Links | Weather Report | Local Phone Numbers | Newsletter | Buyer/Seller Info | Home

Website design and hosting by iHOUSE ®

Site Admin Menu