Types
- Owner occupancy – The person or group that occupies a house owns the building (and usually the land on which it sits).
- Tenancy – A landlord who owns an apartment or building rents the right to occupy the unit to a tenant.
- Cooperative – Ownership of the entire building or complex is held in common by a homeowners' association. Individuals have the right to occupy a particular apartment by mutual agreement but do not hold exclusive ownership to it.
- Condominium (a.k.a. commonhold and strata title) – Ownership of an apartment or house is assigned to an individual, but common areas (e.g. hallways, heating system, elevators, exterior areas) are controlled by the homeowners' association. Fees are charged to the condo owners for maintenance of the common areas. These are referred to as "condo fees".
- Public housing – Government-owned housing, whether provided for free or leased at a subsidised rate.
- Squatting – Occupation by non-owner without permission by the owner, if any.
- Land trust – Often used as an alternative to ownership for privacy and legal reasons.
Read more about this topic: Housing Tenure
Famous quotes containing the word types:
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—Michael Blankfort. Lewis Milestone. Johnson (Reginald Gardner)
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“The American man is a very simple and cheap mechanism. The American woman I find a complicated and expensive one. Contrasts of feminine types are possible. I am not absolutely sure that there is more than one American man.”
—Henry Brooks Adams (1838–1918)