What Everybody Ought To Know About Housing Tenure
A term used by real estate professionals and experts to describe the type of ownership an individual or a group of people have on any type of housing is call housing tenure. It may be condominiums, apartments, house, or townhouse. This element is very important, its purpose to used to determine the difference of a type of housing from the other.
As an example of housing tenure: Condominiums and apartments are two type of multi-unit dwelling, in each floor in a building orĀ in which each unit in a floor, is occupied by one individual. Basically these both type are similar in all elements.
The difference is, a condominiums are individually owned while apartments usually for rent or leased tenants. This why we need to use the housing tenure to determine the difference between an apartment and a condominium, which is trough the ownership.
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