Housing Tenure, What Is It?

If you want to buy a house for sale philippines, you might want to check out what a housing tenure is first.

Housing tenure refers to the financial arrangements under which someone has the right to live in a house or apartment. The most frequent forms are tenancy, in which rent is paid to a landlord, and owner occupancy. Mixed forms of tenure are also possible.

The basic forms of tenure can be subdivided, for example an owner-occupier may own a house outright, or it may be mortgaged. In the case of tenancy, the landlord may be a private individual, a non-profit organization such as a housing association, or a government body, as in public housing.

In other words, a house for sale philippines, is simply a piece of real estate with a tenure.

Surveys used in social science research frequently include questions about housing tenure, because it is a useful proxy for income or wealth, and people are less reluctant to give information about it.

There are several types that encompasses the term “Housing Tenure”. These are as follows:

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Owner Occupancy – or owner-occupier, is a person who lives in a house that he or she owns. Owner-occupancy is therefore also called home ownership. The home of the owner-occupier can range from condominiums, apartments, to housing cooperatives. The immovable property, which includes the home and the land it sits upon, is known as the real estate.

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Tenancy – or Leasehold Estate, is an ownership interest in land in which a lessee or a tenant holds real property by some form of title from a lessor or landlord. Leasehold is a form of property tenure where one party buys the right to occupy land or a building for a given length of time.
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Cooperative – or housing cooperative, is a legal entity (usually a corporation) that owns real estate, consisting of one or more residential buildings. Each shareholder in the legal entity is granted the right to occupy one housing unit, sometimes subject to an occupancy agreement, which is similar to a lease.
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Condominium – A condominium, or condo, is a form of housing tenure and other real property where a specified part of a piece of real estate (usually of an apartment house) is individually owned while use of and access to common facilities in the piece such as hallways, heating system, elevators, exterior areas is executed under legal rights associated with the individual ownership and controlled by the association of owners that jointly represent ownership of the whole piece.
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Public Housing – is a form of housing tenure in which the property is owned by a government authority, which may be central or local.

If you want to learn more about housing tenure or you just want to buy house for sale philippines, then visit any online brokerage company or real estate broker in the philippines.