A common area is a portion of a property that is shared and used by multiple residents. This would include areas like the lobby of an apartment building, the parking lot of a condominium building, or a shared pool and exercise room in a housing complex. Furthermore, in this context, any area that is not specifically private property may be considered a common area.
Common areas can result in liability issues. Therefore, landlord's insurance offers coverage for common areas, among other spaces. Renters are not responsible. However, for condominium buildings, typically, the condo owner's association would buy common area insurance on behalf of everyone. Part of the annual dues would go toward paying the insurance premiums.
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