subject: Housing Tenure, Its Use And Types [print this page] Housing Tenure, Its Use And Types Housing Tenure, Its Use And Types
What is the right way to determining the difference between a type of housing, such as a condominium, from other types of housing, like an apartment building? Is it through physical form?
According to many experts, determining the difference between a type of housing from other types of housing in the market, such as the difference between a condominium building from an apartment building, through physical form alone is not enough. This is because, a building to be used as a condominium can also be used as an apartment and vice versa.
According to many experts, such as those from Philippine real estate companies, the difference can only be determined through its housing tenure. So what is a housing tenure? And what can it do to help in determining the difference between a type of housing from other types of housing?
Housing tenure and its use
Housing tenure is a term given to the type of ownership an individual or group of people have on a type of housing, may it be apartments, condominiums, or houses. Its importance in determining the difference from one house to the other paramount, because only through its type of ownership that an individual can learn if this type of housing is a house, a condominium, a townhouse, or an apartment.
In determining the difference between condominiums and apartments, its best to look in its housing tenure or type of ownership. Although the building used are similar, condominiums are different from apartments, in that apartments are commonly rented or leased to tenants, while condominium units are individually owned, while the rest of the condominium, such as hallways and elevators, are jointly owned by all owners.
Using housing tenure to determine the difference between a condominium from an apartment doesn't stop there. According to many Philippine real estate experts, housing tenure is also used to determine the difference from a typical house from a condominium, an apartment from a house, a house from a townhouse, and a townhouse from a condominium.
Types of housing tenure
There are many types of housing tenure used across the world today, and some of the most frequent are tenancy, which is usually the housing tenure that governs all apartments, and owner-occupancy, which governs the type of housing in which an individual owns their house, a type of apartment, or condominiums.
However, other than these types of housing tenures, a number of new types of housing tenures have also been introduced, which is, according to many Philippine real estate experts, are modified forms of tenancy and owner-occupancy. These include:
Condominium: Other than a type of housing, this term is also used as a type of housing tenure, in which ownership of an apartment or house is assigned to an individual, but common areas are controlled by the homeowners' association.
Public housing: Or also known as government housing, is a type of housing tenure which is given by the government to the homeless or for those relocated from squatters area. These types of housing can be provided for free or leased at a subsidised rate.
Cooperative housing: A type of housing tenure in which a type of house or apartment is owned by a corporation, and that each shareholder are given the right to occupy a house or a unit, but not own it.
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