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

Market price pf all the property prior to a condemnation proceeding. ...

(1) Right to engage in and earn from a particular activity in return for services or for a particular use. (2) Reduced price used as an incentive. (3) Permission or right, granted by a ...

Type of a real estate investment trust whose investment money is used for the purchase of a portfolio of specific properties to be managed in order to generate investment return through ...

Rainwater pipe attached to a roof gutter channeling the run off down and away form the building. ...

Lender's written assurance that the borrower has fully paid the obligation. The borrower may then show this instrument to interested parties. ...

Maximum loan that can be borrowed by a potential debtor. A ceiling loan represents the topmost credit that can be extended. ...

Favorable occurrence providing a good chance for success, usually in financial terms. ...

A real estate professional’s job is to represent their seller’s or buyer’s best interest in a real estate transaction through an agency relationship. This means that the ...

A lease requiring tenants to pay all utilities, insurance, taxes, and maintenance costs. ...

Popular Real Estate Questions