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Common Area is those portions of a building, land, or improvements and amenities owned 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.
This is a blog post for Real Estate Professionals, Investors, Landlord, Property Manager, and Property Management Companies. Common Areas is brought to you by SimplifyEm Pay Rent Online and Property Management SoftwareYou might also want to read:
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