The Other Types Of Housing Tenure
The Other Types Of Housing Tenure
In housing tenure, the most frequent types are tenancy and owner-occupancy. Tenancy, or leasehold estate, is a type of housing tenure in which a lessee or a tenant holds real property by some form of title from a lessor or landlord, while owner occupancy involves a person who lives in a home that he or she owns.
However, other than tenancy and owner occupancy, other types of housing tenures were also introduced in the industry to further distinguish a type of housing used across the world today. Some of the most recognized types of housing tenure in the industry include:
Other types of housing tenure
Condominium
Though a term used for a type of housing, this term is also used as a type of housing tenure or ownership to a type of apartment, townhouse, or a house. According to many experts, such as those from Philippine real estate companies, condominium is a type of housing tenure which is similar to commonhold and strata title.
However, the difference is that condominium involves the ownership of an apartment or house which is assigned to an individual, but common areas such as hallways, elevators, heating and cooling sytems, are controlled by the homeowners' association. Fees are charged to the condo owners for maintenance of the common areas. These fees are mostly known as condo fees.
Cooperative housing
This types of housing tenure involves a legal entity, mostly corporations, which owns a type of housing, such as a housing community, apartment, or condominium, in which each shareholder has the right to occupy one unit or house, but not own it. According to many Philippine real estate experts, cooperative housing is similar to tenancy.
Public housing
Also known as government housing, these types of housing tenures involve a type of housing, from apartments to houses, which is owned by the government. According to many Philippine real estate experts, this is used to provide housing for the homeless as well as for those people relocated from a sqautter's area. These types of housing can either be given free or leased at a subsidised rate.
Squatting
Considered as the first form of housing tenure by many experts and anarchist, this type of housing tenure involves the occupation at a subsidised rate. Although a type of housing tenure, many countries have had problems with squatting, such as in the Philippines in which squatter's areas are mostly found near big cities, such as those squatter's area found in Makati City.
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