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Here we explain the definition of a common elements condo and how it differs from other traditional condos.
A common elements condominium refers to a type of condominium where individual units do not exist, and all components of the property are shared spaces designated for collective use among property owners. Ownership is linked to parcels of land or freehold properties outside the condominium’s boundaries. These condominiums are governed by a declaration and plan that establish the shared elements and associated responsibilities.
Unlike traditional condominiums, these properties are made up entirely of shared spaces that serve all property owners. Examples include roads, sewage and water systems, recreational facilities, or community features such as parks or pavilions. Ownership of these features is divided proportionally among property owners, with each holder maintaining an interest as defined in the condominium’s declaration.
In certain cases, specific areas or features may be designated for the exclusive use of select owners. For instance, a section of a recreational facility might be reserved for specific residents. These exclusive-use areas are described in the declaration or by-laws. Although owners do not technically own these spaces, they are granted usage rights under rules set by the condominium corporation.
The upkeep of shared spaces in this type of arrangement is generally managed by the condominium corporation. This entails collecting fees from property owners to cover routine maintenance, repairs, replacement costs, and maintaining a reserve for future needs. Additionally, owners might be liable for extra maintenance costs associated with any exclusive-use areas they are entitled to, as specified by the governing documents.
The condominium corporation, typically managed by a Board of Directors, oversees the property. This board is responsible for enforcing by-laws and rules that govern its use, maintenance, and cost-sharing requirements. These rules help ensure the property remains in good condition over time.
Insurance responsibilities are usually split between the condominium corporation and individual property owners. The corporation insures shared spaces and structures, while owners are responsible for insuring private properties linked to the condominium. The specifics of this division often depend on the legal boundaries outlined in the declaration. Property owners should carefully review governing documents to fully understand their obligations.
Essential documents such as the declaration and condominium plan define the boundaries of shared spaces, outline terms for exclusive-use areas, and specify maintenance and financial commitments. These documents serve as a critical reference for both current and prospective owners, providing clarity regarding their rights, responsibilities, and relationship with the condominium corporation.
