Limited Common Property is a form of common property whereby exclusive use of a specific area is granted to one or more owners such as patios or balconies. Common Property consists of most of the area outside the boundaries of individual strata lots (i.e. Storage Rooms, Recreational Facilities, Hallways and Lobbies etc.) These areas belong to all owners, are governed by an elected strata council, and cared for by a property management company, who works closely with the council.