Types of Housing Definitions

Apartment

• An apartment, or flat, is a self-contained housing unit that occupies only part of a building.
• Your rent usually includes payment for the management of the common areas.

Condo/Condominium

• Individual ownership of a portion of a building, with common areas shared by all owners.
• Often condo’s have all the amenities included in the unit (washer/dryer)
• Each owner pays a monthly fee to a management company to help maintain and manage the common areas.

Co-op

• A series of condos where the owners contribute to maintenance of common areas through money contributions or doing the work themselves instead of paying a maintenance company to manage the property.
• Co-op’s are usually grouped by income and are sometimes subsidized by the government.

Bachelor

• A one room apartment with kitchen, living space and bedroom in the same area

One Bedroom Apartment

• An apartment with a kitchen, living space and separate bedroom