Real Estate Term of the Day – Limited Common Elements
This term comes up most frequently in conversations surrounding condos or townhouse communities, and they refer to properties of a unit that belong to the HOA and not to the tenant. They are usually features that are a part of a condominium, but are not the sole property of the tenant. These can include things like outer doors, windows, and balconies. They can also include amenities that can serve all community residents like driveways, elevators, swimming pools, and boat slips.
Usually, a declaration document or contract for a condo will specify which amenities are the property of the tenant and which ones are limited common elements. These contracts will also dictate how much care and upkeep the tenant is responsible for when it comes to limited common elements that are connected to a tenant’s unit. Maintenance of limited common items is typically the responsibility of the HOA, but make sure to look over your contract carefully and seek legal advice if you are not sure what you are responsible for and what you aren’t.