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Housing tenure is a financial arrangement and ownership structure under which someone has the right to live in a house or apartment.The most frequent forms are tenancy, in which rent is paid by the occupant to a landlord, and owner-occupancy, where the occupant owns their own home.
Owner-occupancy or home-ownership is a form of housing tenure in which a person, called the owner-occupier, owner-occupant, or home owner, owns the home in which they live. [1] The home can be a house , such as a single-family house , an apartment , condominium , or a housing cooperative .
A rental agreement or lease may include a "rent review" clause which makes provision for the rental amount to be increased, the process for the landlord to provide notice of a rent increase and the options available to the tenant regarding acceptance or rejection of the proposed increase. [3]
Owners of let property will be occupiers of those areas which they have not let by demise and over which they have retained control (such as the common staircase in flat building). If the tenancy agreement imposes upon the owner the duty to carry out repairs, he will be co-responsible with the tenant for the conditions of the premises as occupier.
Landlord–tenant law governs the rights and responsibilities of leasehold estates, like in an apartment complex. Landlord–tenant law is the field of law that deals with the rights and duties of landlords and tenants. In common law legal systems such as Irish law, landlord–tenant law includes elements of the common law of real property and ...
Continue reading → The post Joint Tenants vs. Tenants in Common appeared first on SmartAsset Blog. When it comes to sharing ownership of a property with others, two frequently used options are ...
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