A condo (in American English) or possibly a smooth (in United kingdom The english language) is a self-contained real estate system (a kind of non commercial property) that occupies only a part of a building. This type of developing might be called a condo developing, apartment property (in United states British), obstruct of flats, tower prevent, high-rise or, occasionally mansion prevent (in English British), especially when it consists of numerous apartment rentals for rent. In Scotland it is often termed as a tenement, with a pejorative connotation elsewhere. Flats can be properties of an proprietor/occupier by leasehold tenure or rented by tenants (2 types of real estate tenure). The expression flat is favored in North America (though toned is commonly used in the case of a system which is element of a home made up of 2 or 3 products, normally a person to a ground) as well as will be the favored phrase in Ireland. The term flat is commonly, but not exclusively, used in the UnitedKingdom and Singapore, Hong Kong and most Commonwealth nations.

In Malaysian English language, flat usually denotes a homes prevent of reduced basics high quality created for lower-revenue groups, when apartment is more common and might include luxurious condos. This use has additionally been appearing in British British exactly where condo is commonly used to denote expensive 'flats' in expensive and exclusive home regions in, for example, areas of London, uk such as Hampstead and Belgravia. The term apartment is also frequently used, as is "unit," short for "home unit", though in Australian English, the term flat was traditionally used.

Tenement law signifies the feudal basis of permanent property such as property or rents. It could be located put together as in "Messuage or Tenement" to encompass all the buildings, other and land belongings of any residence. In america, some flat-dwellers individual their particular apartments, both as co-ops, where the residents individual gives of any corporation that has the property or development; or even in condominiums, in whose inhabitants own their apartments and share ownership of the community spaces. Large older houses are sometimes divided into apartments, even though most apartments are in buildings designed for the purpose. The word flat denotes a residential unit or segment in a building. In some spots, specifically the United States, the saying connotes a rental system properties of the building manager, and it is not generally utilized for a condominium.

In the UK, some smooth users personal shares inside the company that has the freehold from the building along with retaining the level within lease. This is certainly often called a "discuss of freehold" flat. The freehold business has the legal right to gather yearly floor rents from each of the level proprietors within the constructing. The freeholder can also build or offer the building, at the mercy of the normal preparing and constraints that may apply.

In certain countries the word unit can be a much more common expression referring to the two flats and leasing business suites. The word is generally used only in the context of a specific building; e.g., "This building has three units" or "I'm going to rent a unit in this building", but not "I'm going to rent a unit somewhere." Within Australia, a system refers to flats, apartments as well as semi-separate houses. Some complexes might be characterized as merged use complexes, which means portion of the constructing is made for industrial, business, or workplace use, typically around the very first floor or very first couple of flooring surfaces, and then there are a number of flats in all of those other constructing, usually around the upper flooring.