Common Area

Definition of "Common area"

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

Mortality Rate

Relationship of the frequency of deaths of individual members of a group to the entire group members ...

Large Loss Principle

Transfer of high severity risks through the insurance contract to protect against catastrophic occur ...

Voluntary Deferral Plan

Vehicle for the deferring of unneeded current income for a later date, such as retirement, providing ...

Wisconsin State Life Fund

Life insurance distribution system under which the state underwrites and sells life insurance to any ...

Credit Limit

Maximum credit a prospective buyer may be given. An example is the maximum mortgage a prospective ho ...

A Priori

(1) Impact of a cause (reason) on something. (2) Theoretical base rather than actual experience. ...

Related Real Estate FAQ

What Do I Need To Know About Motorcycle Insurance?

You need an insurance policy that is tailored in your needs in mind. Take liability for example. Gue ...

What Is A Sales Contract?

A sales contract is the contract you draw up when you want to make an offer on a home. ...

What Is A Point?

A point is equal to 1 percent of a loan amount. Lenders charge points in exchange for lowering the i ...

What Is An Index?

An index is an economic indicator used to set the rate for adjustable-rate mortgages. ...

What Is A Loan-to-value (LTD) Ratio?

A loan-to-value ratio is used by lenders to state how much you have financed. If you put down 20 per ...

What Is A Subprime Mortgage?

A subprime mortgage is a mortgage granted to a borrower who is considered subprime-that is, a person ...

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

Agents join here

Add our widget on your Website

Real Estate Advice

How To Choose A Realtor Rent or Buy - the pros and cons 5 U.S. Cities with the Best Public Transportation What is Earnest Money Should you Buy a Home with Cash?

FAQ

What is a REALTOR®? What is a private Mortgage? When Should I Get Travel Insurance? Besides making my monthly mortgage payment, how can I build equity into my house? What is commission?