Don't Miss

Limited Common Elements

By Contributor on December 20, 2019

Limited common elements refer to facilities that are part of a shared development, such as those of a condominium, that are reserved for use by one or more specific apartments.

This is against what condominium facilities are known for, which is the sharing of common elements.

You need to know: What lenders hope you never learn about mortgages

However, such arrangements are usually made known to any buyer beforehand so that they are aware of the limited common elements that some specific units enjoy.

It also serves as a feature that justify the price of more expensive units.

Some types of limited common elements include car parking space, balconies, storage facilities, boat slips, etc.

Removing this exclusive right of use of limited common elements would require an amendment to the condominium declaration, and also the expressed agreement of the owner who are enjoying the exclusive usage.

[easy-social-share buttons="facebook,twitter,google,linkedin" counters=0 style="icon" nospace="yes" sidebar="yes" sidebar_pos="left" hide_mobile="yes"]
[easy-social-share buttons="telegram,line,whatsapp,sms,viber" counters=0 style="icon" nospace="yes" only_mobile="yes" mobilebuttons="yes"]

Removing them can affect resale value of the units affected.