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dictionary of real estate<br />

terms<br />

glossary of commercial<br />

real estate<br />

dictionary of architecture<br />

and construction<br />

the dictionary of urbanism<br />

Clients underwrite most of<br />

the decent houses in America.<br />

Sometimes, an individual<br />

within government will rise<br />

to the level of a client.”<br />

Common<br />

Common area: Areas of a property<br />

that are used by all owners<br />

or tenants.<br />

Common elements: In a condominium,<br />

those portions of<br />

the property not owned individually<br />

by unit owners but in<br />

which an indivisible interest<br />

is held by all unit owners.<br />

Generally includes the grounds,<br />

parking areas, recreational<br />

facilities, and external structure<br />

of the building.<br />

Common<br />

Common area: For lease purposes,<br />

the areas of a building (and<br />

its site) that are available for the<br />

nonexclusive use of all its tenants,<br />

such as lobbies, corridors,<br />

and parking lots. (Real Estate<br />

Information Standards)<br />

Common<br />

A large plot of grassy, fenced-in,<br />

publicly owned land, generally at<br />

or near the center of a village or<br />

town; in earlier eras, once shared<br />

by the townspeople as a pasture.<br />

Common<br />

A piece of land that belongs to<br />

local people collectively, and<br />

which is open for public use.<br />

Community<br />

Community associations: General<br />

name for any organization<br />

of property owners to oversee<br />

some common interest.<br />

Community<br />

Community<br />

A group of people having<br />

common rights, privileges, or<br />

interests, or living in the same<br />

place under the same laws and<br />

regulations.<br />

Community<br />

A grouping of people with<br />

common interests. The DETR<br />

(1998) defined community as<br />

“any group of individuals with a<br />

common bond above the family<br />

unit and below the first level<br />

of municipal administration. It<br />

is primarily those people living<br />

or working in a defined area . . .<br />

in general the people intended<br />

to benefit from regeneration<br />

and local services.” The New<br />

Economics Foundation (2000)<br />

describes community as “a web<br />

of relationships defined by a<br />

significant level of mutual care<br />

and commitment.”<br />

196 197

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