In a condominium or other cooperative residential facility, an area owned by the organization that oversees the facility, but is not owned by any specific resident
refers to portions of a property designed for common use by the tenants Parking lots, washrooms, walkways and areas onto which the stores in a shopping centre face are usually designated part of a propertys common area
There are two components of the term "common area" If referred to in association with the Rentable/Usable or Load Factor calculation, the common areas are those areas within a building that are available for common use by all tenants or groups of tenants and their invitees (i e lobbies, corridors, restrooms, etc ) On the other hand, the cost of maintaining parking facilities, malls, sidewalks, landscaped areas, public toilets, truck and service facilities, and the like are included in the term "common area" when calculating the tenant's pro-rata share of building operating expenses
an area owned by the owners or tenants of a condominium complex, or subdivision for the common use of residents; i e : clubhouse, pool, tennis courts, golfing facilities
Part of a property owned by all of the owners In a condominium or planned unit development there are common areas owned by the property owners jointly Back to Top
The total area within the shopping center that is not designed for rental to tenants but that is available for common use by all tenants or groups of tenants, their invitees, and adjacent stores Parking and its appurtenances, malls, sidewalks, landscaped areas, public toilets, truck and service facilities, and the like are included in the common area