WHAT ARE COMMON ELEMENTS?
Common Elements in a condominium are shared areas in the building and complex grounds that belong to all owners. Pretty much everything but the owner’s unit itself. These could include lobbies, hallways, stairwells, garbage areas, locker and bike areas, gardens, parking facilities and roof tops.
Common elements also include all building amenities the building has to offer. Such as the party room, exercise facilities, pools, hot tubs, tennis courts, video rooms, libraries and billiard rooms.
There are also some types of common elements that owners have exclusive use over. Some being parking spots and balconies. Even though no one can physically walk through your unit to use your balcony, it is classified as a common element with exclusive use.
A portion of your maintenance fees pays for the continued upkeep and any repairs to the common elements of the building.
Before purchasing a condominium, you should review the by-laws of the building and familiarize yourself with the common elements and what your responsibilities of a unit owner are.
Read more about condominiums:
The Reserve Fund
Don't Fear the Condo Fee
The Status Certificate
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