Common area
The parts of a shared community that belong to everyone, like the pool, hallways, or landscaping in a condo. HOA dues pay to maintain them.
Get the steps of a home sale by email, in order, one short email at a time.
Eight short emails, free. Unsubscribe any time. What's in them
Where this comes up: getting ready
Part 1 of 4
Why a seller cares
The pool, the roof, the hallways and the grounds are owned by everyone and paid for by the dues. Their condition and the reserve fund behind them are what a condo buyer's lender asks about.
Part 2 of 4
A simple example
Your building's roof is 24 years old and the reserve study says it is due. The buyer's lender reads the HOA's financials and asks about a special assessment.
| What the buyer or lender reads | What it tells them |
|---|---|
| The reserve fund balance | Whether big repairs are funded or coming as assessments |
| Pending litigation or assessments | Costs the buyer inherits |
| The dues and what they cover | The real monthly cost of the unit |
Common areas are shared property with shared bills, and the HOA's books are where the bills live.
Part 3 of 4
What people get wrong
That common areas are free amenities. They are the reason the dues exist and the reason they go up.
Part 4 of 4 · where to read next
Where it appears in the sale
What a definition is, and what it isn't
Keighbor is a software company, not a law firm, brokerage, or tax adviser. This is general information, not legal, tax, financial, or real estate advice about your sale. Your situation may differ. Before acting on a contract, disclosure, title, tax, or pricing question, ask an appropriately licensed professional in your state.
Written and researched by Keighbor Research · drawn from the reference glossary · how we research and check what we publish
In your Room, this word explains itself where it appears.
Your Room defines common area in the step you meet it in, beside the document or the date it belongs to. Free to set up, with an agent or on your own.
Organize my saleFree to set up. Pay once when you list: $89 or $189. 7-day refund.