Owner occupancy and tenancy are some of the most frequent types of housing tenure. However, throughout the years, new types of housing tenure was introduced in the market. Some of the new types of housing tenure include: cooperative housing, condominium, public housing, and squatting.
In housing tenure, owner occupancy and tenancy are considered as some of the most frequently used types which is used to describe the type of ownership an occupant has on any type of housing. However, other than owner occupancy and tenancy, a number of new types of housing tenure have also been introduced in the industry which are basically modified types of owner occupancy and tenancy.
Other types of housing tenure
What is housing tenure? Housing tenure refers to the financial arrangements under which someone has the right to live in a house or apartment. According to a number of philippine real estate experts, the most frequent types of housing tenure are tenancy in which rent is paid to a landlord, and owner occupancy.
However, throughout the years, new types of housing tenure was introduced in the market. Some of the new types of housing tenure include: cooperative housing, condominium, public housing, and squatting.
Cooperative housing
Cooperative housing is a type of housing tenure in which a legal entity, such as a corporation, owns a type of real estate which consist of one or more residential buildings. According to many philippine real estate experts, each shareholder of a corporation has the right to occupy a unit in a cooperative housing (this is usually subject to occupancy agreement) which is similar to an apartment. A shareholder in a co-op does not own real estate, but a share of the legal entity that does own real estate.
Condominium
Also known as commonhold or strata title, a condominium is a type of apartment in which each unit is individually owned (which is different with apartments) while the rest of the building or complex are jointly owned. Condominiums and apartments are similar in physical form but different in ownership. Apartments are typically rented or leased by a landlord while condominiums are owned by its occupants (though a unit owner can rent or lease their unit to another as an apartment).
Public housing
A type of housing which is under the management of the government. These types of housing are usually used to relocate the residents of a squatters area to a more pleasing area, complete with proper sewage system. According to many philippine real estate experts, a public housing can also be managed by not-for-profit organizations. Although some of these are free, some public housing or government housing are rented or leased to tenants, but for a more affordable price.
Squatting
Believed to be the first kind of housing tenure, it involves occupying an abandoned real estate, may it be a building or a house, without the permission of its land owner. In many of the world's poorer countries, there are extensive slums or shanty towns, typically built on the edges of major cities and consisting almost entirely of self-constructed housing built without the landowner's permission.
In housing tenure, owner occupancy and tenancy are considered as some of the most frequently used types which is used to describe the type of ownership an occupant has on any type of housing. However, other than owner occupancy and tenancy, a number of new types of housing tenure have also been introduced in the industry which are basically modified types of owner occupancy and tenancy.
Other types of housing tenure
What is housing tenure? Housing tenure refers to the financial arrangements under which someone has the right to live in a house or apartment. According to a number of philippine real estate experts, the most frequent types of housing tenure are tenancy in which rent is paid to a landlord, and owner occupancy.
However, throughout the years, new types of housing tenure was introduced in the market. Some of the new types of housing tenure include: cooperative housing, condominium, public housing, and squatting.
Cooperative housing
Cooperative housing is a type of housing tenure in which a legal entity, such as a corporation, owns a type of real estate which consist of one or more residential buildings. According to many philippine real estate experts, each shareholder of a corporation has the right to occupy a unit in a cooperative housing (this is usually subject to occupancy agreement) which is similar to an apartment. A shareholder in a co-op does not own real estate, but a share of the legal entity that does own real estate.
Condominium
Also known as commonhold or strata title, a condominium is a type of apartment in which each unit is individually owned (which is different with apartments) while the rest of the building or complex are jointly owned. Condominiums and apartments are similar in physical form but different in ownership. Apartments are typically rented or leased by a landlord while condominiums are owned by its occupants (though a unit owner can rent or lease their unit to another as an apartment).
Public housing
A type of housing which is under the management of the government. These types of housing are usually used to relocate the residents of a squatters area to a more pleasing area, complete with proper sewage system. According to many philippine real estate experts, a public housing can also be managed by not-for-profit organizations. Although some of these are free, some public housing or government housing are rented or leased to tenants, but for a more affordable price.
Squatting
Believed to be the first kind of housing tenure, it involves occupying an abandoned real estate, may it be a building or a house, without the permission of its land owner. In many of the world's poorer countries, there are extensive slums or shanty towns, typically built on the edges of major cities and consisting almost entirely of self-constructed housing built without the landowner's permission.
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