The terminology, housing tenure, pertains to the financial arrangements under which somebody has the right to dwell in a house or apartment. Leasing an apartment to a lessee with conditions of tenancy ensured by a lease is the most usual housing tenure deal. Monthly the landlord is entitled to a lease payment for the tenant's right to live on the property.
There are many different forms of housing tenure. Among them are: tenancy, owner-occupancy, squatting, cooperative tenure, condominium, land trust and public housing. Varying significantly in structure, Timeshare and Cohousing are the two fundamental variations of housing tenure. Residency privileges designated for vacation use typically comprise housing properties called Timeshare. Modified from regulations issued by cooperatives, condominiums or apartments, Timeshares are different from all others because they are typically short-term. Cohousing pertains to a living condition where neighbors share common areas like kitchens and playgrounds.
Anyone who possesses property can be a landlord, whether it is the government, like with public housing, a private person or a non-profit housing association. Owner occupancy signifies that the person occupying the house and the property it is located on is also the inhabitant of the house. The owner of an apartment or building retains the entitlement to lease out an apartment to a tenant. Individuals do not exclusively have possession of but can occupy a specific apartment under the cooperative type of housing tenure. With cooperatives, a homeowners' association communally claims ownership of the whole building or complex.
Owning a condominium means sharing common areas such as a heating system, elevators and outdoor space, which are all managed by a homeowners' association. Common areas in condominiums are kept up by payment of monthly condo charges. Offered either at no cost or at a subsidized rate, the landlord of public housing is the government. Ownership for the sake of privacy and legalities usually comes in the form of a land trust, which is utilized as another form of housing tenure to owner. Squatting provides for no rights or privileges as it involves the occupation of a property by a non-owner with no permission of the owner.
Housing tenure is a terminology that experts and professionals employ to determine how one sort of housing varies from all other categories of housing. Differentiating housing types, even though in some instances physical form may be a criterion is still dependent in many aspects on possession or housing tenure.
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