Common Area

Definition of "Common area"

Dawn Klein

Dawn Klein

Dawn Klein Real Proz

Space that is available to all tenants or owners, such as a courtyard, main entrance, elevator, and pool.

Search Real Estate Glossary

Related Real Estate Glossary terms

Debt

(1) Money or services owed by one party to another party. The debtor may have to pledge an asset fo ...

Present Value

Current value of a future sum or stream-annuity or mixed-of dollars discounted at a given rate. Pres ...

Principal

person designating an agent to act for him. Primary individual having full financial liability. ...

Lock-in Principle

Accounting rule found under the Generally Accepted Accounting Principles (GAAP) that prohibits the i ...

Perjury

Individual who gives false statements under oath, which is a criminal act punishable by imprisonment ...

Construction Insurance

Property coverage for damage or destruction of structures in the course of construction. For example ...

Related Real Estate FAQ

What Is A Convertible ARM?

A convertible ARM is an adjustable- rate mortgage (ARM) that can be converted into a fixed rate mort ...

What Is A Private Mortgage?

Private mortgage insurance is insurance that protects mortgage lenders against default on loans by p ...

What Is Comprehensive Homeowners Insurance?

Comprehensive is the most expensive type of homeowners insurance; it covers the most potential damag ...

What Is Flood Insurance?

Flood insurance is insurance that compensates for the physical property damage resulting from rising ...

How Can I Protect My Home Office?

Commercial insurance is designed to help protect many of the risks your business can face, includin ...

What Is A Principal?

Principal is the amount of money borrowed and still owed on a loan not including the interest. ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews

Agents join here

Add our widget on your Website

Real Estate Advice

Build or Buy? That’s the Big Question When to buy a house Why Use a Real Estate Agent? When to Dispute Your Home Appraisal How is Square Footage Determined?

FAQ

What do I need to know about Indemnity Insurance? What is hazard insurance? What is a deed? What is a mortgage? What are comparables or comps?