Common Property refers to the land which can be accessed by all others living under the one strata title or body corporate or all others living within the same block of flats, units, or apartment. The common property will usually include such things as car parking areas, court yards, grassed areas outside or stairways. The common property is the responsibility of all those who have claim to it; so when repairs or maintenance is required, the costs will be borne by all.

Any land which contains common property must take out public liability insurance and reinstatement and replacement insurance for all buildings on each lot. In the case of a body corporate, a minimum of $10,000,000 for public liability insurance must be paid.