Definition of "Common elements"

Those parts of a condominium that are owned by all the unit owners.

Comments for Common Elements

Patricia Kowski Patricia Kowski said:

Do common elements include utilities such as water and electricity?

Sep 18, 2020  18:12:58

 
Real Estate Agent

Hello, Patricia!

Yes, common elements in a condominium, for example, include heating and air conditioning systems, pipes, hot water systems, light fixtures on common ground, security systems, and electrical systems. Aside from these elements that are not so obvious, you have lobbies, locker areas, garages, technical rooms, walkways, the roof, and many other elements that are parts of the condo complex and belong to all owners.

Sep 28, 2020  09:06:12
 
 
image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Real Estate Terms

Through real estate properties, many individuals of varying degrees of expertise find ways to make money. The real estate industry allows these practices as real estate properties are ...

Investments, usually in limited partnership, that can protect of defer shelter) part of the income from current taxes. Under current law, passive leases can be applied up to passive income. ...

Measure of the annualized compound growth of a real estate investment. ...

You can frequently encounter “circa” in everyday discourse, referring to an approximation as an approximate date. Variations of circa are: about, near, and roughly.  The ...

Rule stating that the monthly mortgage payment, property taxes, and insurance should not exceed 25% of a family's monthly gross income, or about 35% for a Federal Housing Administration ...

Apartment building in which each resident owns a percentage share of the corporation that owns the building. ...

Borrower who gives property as collateral for a loan. ...

A capitalized expenditure usually extending the useful life of a building or improving it in some manner over and above the original condition. In contrast, a maintenance or repair expense ...

Raw land in its natural condition which has in no way been improved. ...

Popular Real Estate Questions