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. The home can be a house, such as a single-family house, an apartment, condominium, or a housing cooperative. In addition to providing housing, owner-occupancy also functions as a real estate investment.
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Owner occupancy in the context of Apartment
An apartment (North American English), flat (British English, Indian English, South African English), tenement (Scots English), or unit (Australian English) is a self-contained housing unit (a type of residential real estate) that occupies part of a building, generally on a single story. There are many names for these overall buildings (see below). The housing tenure of apartments also varies considerably, from large-scale public housing, to owner occupancy within what is legally a condominium (strata title or commonhold) or leasehold, to tenants renting from a private landlord.
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Owner occupancy in the context of Apartment building
An apartment (North American English), flat (British English, Indian English, South African English) or unit (Australian English), is a self-contained housing unit that occupies part of a building. The housing tenure of apartments also varies considerably, from large-scale public housing, to owner occupancy within what is legally a condominium (strata title or commonhold) or leasehold, to tenants renting from a private landlord. The buildings that contain apartments may be called different things depending on size or country (see below).
View the full Wikipedia page for Apartment building