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Real Estate Glossary

What does Common-Area Assessments mean?

Common-area assessments are fees that are charged to the owners of units in a condominium, townhouse, or other type of common-interest development. These fees are used to pay for the maintenance and upkeep of common areas, such as pools, landscaping, and amenities.

Assessor

Assumption

Brokerage

Certificate of Sale

Closing

Commingling

Common-Area Assessments

Credit History

Curb Appeal

Damage & Destruction (In a Lease)

Fee Simple Defeasible

Growing-Equity Mortgage

Income Property

Maintenance Fee

Shared-Equity Transaction

Speculation Home

Tax Sale

Term Beginning

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Artur

Real Estate Assistant