Housing tenure involves someone entitlement to live in a house or apartment under precise financial arrangements. Letting an apartment to a tenant with conditions of tenancy ensured by a lease is the most common housing tenure arrangement. This signifies that the landlord is given a monthly rent in exchange for the entitlement to dwell on the premises.
There are several different types of housing tenure. Among them are: tenancy, owner-occupancy, squatting, cooperative tenure, condominium, land trust and public housing. You can also find two variations of housing tenure: Timeshare and Cohousing. Residency privileges designated for vacation use typically comprise housing properties called Timeshare. They are almost always short-term modifications of housing cooperatives, condominiums or apartments. Cohousing refers to a living condition in which neighbors share common places like kitchens and playgrounds.
Any person who owns property may be a landlord, be it the government, like with public housing, a private individual or a non-profit housing association. Owner occupancy means that the person occupying the house and the property it sits on is also the inhabitant of the house. The owner of an apartment or building retains the right to rent out an apartment to a tenant. With a cooperative type of housing tenure, individuals can inhabit a particular apartment, but do not solely own it. Instead, a homeowners’ association communally claims possession of the whole building or complex.
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Owning a condominium means sharing usual areas such as a heating system, elevators and outdoor space, which are all managed by a homeowners’ association. Common places in condominiums are kept up by payment of monthly condo charges. The government can also serve as landlord as in the case of public housing when housing is offered either free or at a sponsored rate. A land trust is another form of housing tenure, which provides rights of privacy to the owner as well as certain legalities. Because squatting involves a takeover of property without permission by the owner, it is the most tenuous of all forms of housing tenure.
The manner in which one form of housing tenure is distinguished from another is determined by a group of experts and professionals. Differentiating housing types, even though in some instances physical type may be a criterion is still reliant in many aspects on possession or housing tenure.
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