What is Common Property?
Common Property refers to areas of the building that are shared by all owners in the strata.
Examples include:
Hallways
Lobbies
Elevators
Amenity rooms
Gyms
Roofs
Exterior walls
Parking garages
Landscaping and gardens
Every owner in the building owns a share of these areas collectively through the strata corporation.
In simple terms, Common Property is for everyone in the building to use (subject to strata bylaws and rules). Maintenance and repairs for common property are typically paid for through strata fees and the contingency reserve fund.
What is Limited Common Property (LCP)?
Limited Common Property is still technically common property, but it is reserved for the use of a specific unit or a small group of units.
Common examples include:
For example, a balcony attached to your condo is usually Limited Common Property. It belongs to the strata corporation, but only your unit has the right to use it.
Maintenance responsibilities can vary. Often:
This can differ depending on the building’s bylaws.
Why Some Parking Stalls Are Common Property and Some Are Limited Common Property
One thing that often surprises buyers is that parking stalls and storage lockers can be categorized in different ways. In some buildings, parking stalls are designated as Limited Common Property, meaning a specific stall is permanently tied to a particular unit. In other buildings, parking stalls remain Common Property but are assigned by the strata council or developer for use by certain units.
If a parking stall is Limited Common Property, it is typically shown on the strata plan and is tied to your unit. If it is Common Property assigned by the strata, the assignment may simply be recorded in the building’s records or bylaws rather than on the strata plan.
When Strata Can Reassign Your Parking Stall
This distinction matters because it can affect whether your parking stall could be reassigned in the future. If your stall is Common Property that has been assigned for your use, the strata corporation may have the right to reassign or change parking allocations, depending on the bylaws and how the parking was originally allocated.
This is not common in day-to-day practice, but the ability can exist in some buildings.
If the stall is Limited Common Property tied to your unit, it is generally much more permanent and cannot be reassigned without formal changes to the strata plan.
For buyers, this is an important detail to verify when reviewing strata documents.
Where Can You See This Information?
You can find details about Common Property and Limited Common Property in several strata documents, including:
What is Form B?
Form B is an official document issued by the strata corporation, usually prepared by the property management company.
It contains important information about the building and the specific unit, including:
Monthly strata fees
Parking and storage allocations
Rental restrictions
Bylaws and rules
Financial information about the strata
Special levies
Whether parking or storage is Limited Common Property or assigned Common Property
Form B is commonly provided to buyers during the subject period when reviewing strata documents.
Important Note About Form B
While Form B is an important reference document, mistakes can sometimes happen. Property management companies prepare these forms, and occasionally information about parking, storage, or limited common property may be recorded incorrectly.
For that reason, buyers and owners should cross-reference Form B with the strata plan and other strata documents.
Why This Matters
Understanding the difference between Common Property and Limited Common Property can affect:
What spaces you’re allowed to use
Who is responsible for maintenance and repairs
Whether parking or storage is legally tied to your unit
Whether a parking stall could potentially be reassigned
Future resale value of your property
For example, a secure parking stall designated as Limited Common Property may be more valuable and more secure than a stall that is only assigned Common Property.
A Final Note
Strata documents can be complex and each building may handle responsibilities differently. If the designation of Common Property or Limited Common Property is important to you, it’s always a good idea to consult with a lawyer or notary to review the documents and confirm your rights and obligations.
If you’re buying or selling a condo in Vancouver and want help navigating strata documents, Form B certificates, and building records feel free to reach out.
Team Toly & Josie
Local Vancouver Realtors
Helping buyers make confident decisions.
