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Read your governing documents to determine the line -- usually on or within the walls -- that define where the common area abuts individual ownership.
The line may be studs, back or front of wall board, paint and so forth. There is no standard.
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∙ 10y ago
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What do you call the space between condo units?
Usually, this area is called common area of some kind.
Is the walkway on the roof that residents living on the roof use to enter there condo a common area?
is the walkway on the roof (which the 4th floor residedence use to reach ther condo) common are to all residents
Are back porches a limited common area in a condo?
There is no standard. Read your governing documents to determine the ownership status of a back porch.
Is under a condo a common area meaning the concrete slab of the bottom unit as well as pipes etc?
Your answer is available in your governing documents, where you will find the definition of what is owned in common.
What will fix my Condo that sits on the foundation that is seeping water inside the condo?
French drains and damp proofing the outside walls with flashing cement or WR Grace material
IF my upstairs condo is untouched by a flood but the building's ground floor is damaged so badly that the entire building is unlivable would my flood insurance protect me?
Let's first review what a condo is. A condominium is an arrangement in which you own your own living space outright (your condo apartment), and you share joint ownership (with all the other condo owners) of the common spaces. There will be (at least) two insurance policies in effect: (1) the condo association policy, which covers (at least) the common areas, and (2) your own personal policy, which covers the contents of your condo apartment, and depending upon your coverage, may also cover the internal structural elements (walls, floors, ceilings, fixtures, countertops, etc.) of your specific condo unit. Since there is no damage to your condo unit, your personal condo insurance will probably not apply, even if you have flood insurance. So, the answer to your question depends upon what type of policy your condo association holds. You should therefore ask your condo association.
Is leaking pipes inside the wall covered in condo insurance?
Typically, the coverage for leaking pipes inside a condo's walls can be a bit complicated due to the unique nature of condo ownership. Insurance coverage in condos is generally split into two parts: condo association insurance (also known as "master policy") and individual condo owner's insurance (HO-6 policy). The condo association's policy often covers parts of the building structure, which could include pipes inside the walls. However, it can also depend on the specifics of your condo association's master policy and whether they have an "All In" or a "Bare Walls-In" coverage. An individual condo owner's insurance might cover the damage to personal property and any improvements made to the unit, like upgraded kitchen appliances. Essentially, whether or not a leaky pipe inside the wall is covered depends on where the pipe is located (common area vs. within your individual unit), who is responsible for its maintenance (as outlined in your condo by-laws), and the details of both insurance policies. At Daisy, we've learned that understanding your condo documents and insurance policies is fundamental to knowing what is and isn't covered. It's always advisable to consult with your insurance provider or a lawyer to fully understand your coverage.
Is a condo terrace a common area?
There is no standard as to how terraces are owned in condominiums. Read your governing documents to learn about terrace ownership, maintenance, access and so forth.
How do you determine the price of a condo and what part does the area play in the pricing of a condo?
Condominium ownership implies that according to the land-use documents on file in your county hall of records, all owners own areas in common, and individual unit owners own space inside a line drawn somewhere in or on the walls of each unit. If you're pricing your condominium, the price you ask includes the space defined for your unit and all the common area owned -- in common -- with all other owners. As an individual seller, you have no option to include or exclude common areas from the purchase. You can work with a local condominium-savvy real estate agent to help you establish a range for your property, given comparables in the local market.
What could be the source of a constant running water in walls of a condo?
An invasive inspection by a certified building engineer can answer your question.
What is the definition of common area for a condo?
A common area is defined as a real estate asset that is usable by all members of the community, and is owned in common by all owners. At least one sub-definition is limited common area, meaning that the element is useful for some, but not all, owners. It is also owned by all owners and is maintained by the association using funds paid in assessments by all owners.
Who pays for real property in condo when condo association performs demolition of roof and walls?
Read your governing documents to determine ownership. There is a line between what a unit owner owns and what all unit owners own in common with all other owners. Ownership may determine who pays, and it may not, depending on the motivation to perform demolition of roof and walls. As well, and again this is an ownership issue: which roof(s) and which wall(s) -- interior or exterior, building envelope or not?
