Last reviewed 10-31-2026Short-Sale.com Editorialglossary
Common Areas
FTC
Updated 10-31-2026
Common Areas
Those portions of a building, land, or improvements and amenities owned by a planned unit development (PUD) or condominium project's homeowners' association (or a cooperative project's cooperative cor-poration) that are used by all of the unit owners, who share in the common expenses of their operation and main-tenance. Common areas include swim-ming pools, tennis courts, and other recreational facilities, as well as common corridors of buildings, parking areas, means of ingress and egress, etc.
FTC Real Estate Terms
FTC · p. 4
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