Define: Communal Area

How is Communal Area defined in a legal contract?

• Communal Area means the geographic region habitually occupied by a specific traditional community, specifically excluding any local authority region. Seen in 5 SEC filings
• Communal Area means the parts of a block or neighborhood where all renters can use such as halls, stairways, entrances, foyers, landings, elevators, parking areas, shared gardens, lawns and landscaped areas. Seen in 3 SEC filings
• Communal Area means a place where people mix or gather, such as passageways, stairs, elevators, staff rooms, training rooms, changing rooms, or entrances. Seen in 2 SEC filings
• Communal Area means any area or facility within The Roost intended to be used by all inhabitants. Seen in 2 SEC filings
• Communal Area means all of the properties presently or in the future owned and held by the [organization] for the common use and enjoyment of its members, including but not limited to such features as driveways, parking areas, walk areas, lighting, concessions, rights-of-way, easements, bicycle paths, pedestrian trails, and other recreational areas. Seen in 1 SEC filing

Note: The last two definitions could not be included due to explicit mentions of geographic locations and organizations.

Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.

Search EDGAR for 'Definitions of communal area' yourself to verify these results. We are always keen to point people to source documents.

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Which definition should you use?

🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

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Genie Definition 1

Communal Area means a designated region regularly occupied by a community, for common use and enjoyment.

Relevant Contract Types

• Commercial Lease Agreements
• Residential Lease Agreements
• HOA Agreements

Relevant Circumstances

• Lease or rent of commercial or residential properties.
• Establishment or operation of homeowners associations.
• Dealing with rights of use and occupancy in residential or commercial buildings.

Relevant Sectors

• Real Estate
• Property Management
• Housing and Community Development

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Genie Definition 2

Property Value means net operating income of a property for a recent quarter annualized, divided by the capitalization rate.

Relevant Contract Types

• Investment Agreements
• Shareholder Agreements
• Joint Venture Agreements

Relevant Circumstances

• Analyzing a Property Investment
• Determining Dividends for Shareholders
• Structuring a Joint Venture Deal

Relevant Sectors

• Investment Banking
• Finance
• Real Estate

Genie Definition 2

Communal Area means shared facilities within a residential or commercial establishment, accessible to all occupants.

Relevant Contract Types

• Commercial Lease Agreements
• Hostel Agreements
• Shared Office Space Agreements

Relevant Circumstances

• Lease or rent of commercial shared office spaces.
• Establishment or running of hostels or shared residentials.
• Dealing with shared facilities in business establishments.

Relevant Sectors

• Co-working Spaces
• Hospitality
• Real Estate

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