Definition: Abbreviation for “Common Area Maintenance Fee,” which is a fee paid collectively by the owners of individual units for the maintenance and upkeep of the non-exclusive areas of the premises.

Examples: The common areas are the undivided parts of the commonly owned premises, such as the parking lot, lawns, corridors, lobbies, elevators, etc.

Tips: The responsibility for upkeep and maintenance of these areas is collective. The fee is used to manage expenses for the management and repair of any damage to the same.