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Housing tenure

society Maturity 11-13 Next article →

How do people live in their homes? This is called housing tenure. It is the way people pay for their homes.

Some people are owners. They own the building and the land. They might own it fully. They might also have a mortgage. A mortgage is a way to pay for a home over time.

Other people are tenants. They pay rent to a landlord. The landlord might be a person. They might also be a group or the government.

Some people live in a cooperative. This means a group owns the whole building. They share the space together.

There are also condominiums. In a condo, you own your own unit. But a group manages the shared parts. These parts include halls and elevators. Owners pay fees to keep these areas working.

Some homes are public housing. The government owns these homes. They may be free or at a low cost.

People study these facts. It helps them learn about wealth and income. This is a useful way to see how people live.

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