Housing tenure

A housing tenure is the financial and ownership structure by which someone has the right to reside in a dwelling unit. Common housing tenures include

Tenancy- A tenant rents or leases from a landlord

Leasehold- Where the land the house sits on is rented and subject to a regular ground rent.

Condominium - An ownership structure in which the homeowners just own the interiors of their units, and not the land or the outer building structure.

Freehold or fee simple - Where the property owner doesn't have to answer to or pay anyone but the utility company, government and if on a mortgage the bank.

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