Which term refers to the common areas in a condominium project?

The term that refers to the common areas in a condominium project is "common elements." In a condominium setting, common elements are parts of the property that are shared among all condominium owners and are not owned individually. Examples of common elements include hallways, elevators, pools, gyms, and landscaping. These areas are maintained by the homeowners' association (HOA) and are accessible to all residents.

Understanding this concept is crucial for prospective buyers and real estate professionals as it outlines the shared responsibilities and rights of owners within a condominium. When owners purchase a unit, they gain ownership of their individual unit and a partial interest in the common areas, which is collectively managed for the benefit of all residents. This contributes to the overall functionality and appeal of condominium living.