subject: Difference Through Housing Tenure [print this page] Difference Through Housing Tenure Difference Through Housing Tenure
Housing tenure, according to many experts, such as those from Philippine real estate companies, is a term widely used to determine the type of ownership an individual or group of people have in any type of housing, from apartments to houses and condominiums. However, housing tenure is also used to determine the difference from one type of housing to the other. Difference of different housing types
Although a typical house can be differentiated from condominium buildings, or a townhouse from normal houses, a lot has changed over the years, and differentiating a type of housing such as a condominium building from an apartment building by its physical form can be difficult. A condominium building is so similar to an apartment building that a building to be used as an apartment can also be used as a condominium, and vice versa. According to many Philippine real estate experts, one way for people to determine the difference of condominium buildings from apartment buildings is through its housing tenure. Two of the most frequent types of housing tenure used in the industry of residential real estates today are tenancy or leasehold estate, in which rent is paid to a landlord, and owner occupancy. Condominium is a type of owner occupancy while apartments are a type of tenancy. However, other than apartments and condominiums, a number of new condominiums as well as townhouses have become more like a normal house, particularly with its own land as well as with its location, which is mostly found in the suburbs. So how do you determine the difference between a condominium, a townhouse, and a typical house if their housing tenure are also similar, which is owner occupancy? Other types of housing tenure
According to many Philippine real estate experts, other than tenancy and owner occupancy, a number of new housing tenure has also been introduced to further determine the difference of one housing to the other. And according to these experts, most of these types of new housing tenures were modified forms of tenancy and owner occupancy. These includes:
Condominium: Although a term given to a type of housing, condominium is also the term used in housing tenure in which a type of housing, may it be a house, a townhouse or an apartment, is owned, while other facilities found in the building, such as hallways, elevators, and recreational facilities, are jointly owned by all owners.
Cooperative housing: A type of housing tenure in which a legal entity, such as a corporation, owns a type of housing, an apartment or a condominium, in which each shareholder has the right to occupy one unit but not entirely own it.
Public housing: Also known as government housing, these types of housing tenure is used for a government-owned housing which is mostly given to the homeless, or leased for a subsided rate.
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