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Condominiums and apartments (building) are some of the most popular types of housing in the Philippines. However, how can you determine the difference between a condominium from an apartment (building). According to many Philippine real estate experts, condominiums and apartments (building) are practically similar with each other. Each type of housing is known to be comprised of separate residential units, and that these buildings are also known for its similar features. So how can one distinguish the difference between condominiums and apartments (building)? According to many Philippine real estate experts, the right way to distinguish the difference between condominiums and apartments (building) is through its type of ownership, or why that state Philippine real estate experts call housing tenure. What is Housing Tenure? Housing tenure is a term widely used in the real estate industry which is used refer to the financial arrangements under which someone has the right to live in a house or apartment. It is also used to determine the difference between each housing types, such as condominiums and apartments (building). So the difference between condominiums and apartments is its type of ownership. While apartments are normally rented or leased to tenants, condominium units are individually owned by its owner or residents. However, other than between condominiums and apartments, apartments may also be differentiated between houses, and townhouses. Types of housing tenure There are different types of housing tenure used by experts to determine a type of housing. Other than tenancy, which is the type of ownership that governs apartments, owner-occupancy is another frequently used type of housing tenure which governs the ownership of houses, condominiums, and other types of apartments. These types of housing tenure, however, have been continuously modified to further describe new types of housing across the world. Aside from tenancy and owner occupancy, other types of housing tenure also include: Condominium: The type of housing tenure that governs condominiums. The difference between owner occupancy and condominium is that in condominium, residents only own their units, other facilities found in the condominium such as hallways, elevators, and recreational facilities are owned by the homeowner association. Public housing: Also known as government housing, these types of housing are either given or rented at a substantial rate to lesser people, such as those relocated from squatters area. Cooperative housing: Ownership of the entire building or complex is held in common by a homeowners' association. Individuals have the right to occupy a particular apartment by mutual agreement but do not hold exclusive ownership to it. For more information visit to our site at http://www.atayala.com
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