Definitions of Furnished Rental Properties
The definition of a certain property types can be different in different parts of the world. the definitions below are the ones advertised on the chbo website.
House - A single family residence, on a single lot of land. generally is one or two story and has a front and back yard.
Duplex - Two single family residences adjoined by a common wall and sharing a single lot of land.
Triplex - Three single family residences adjoined by common walls and sharing a single lot of land.
Fourplex - Four single family residences adjoined by common walls and sharing a single lot of land.
Townhouse - This dwelling is part of a row or complex containing multiple homes of the same or similar design. units consist of one or more floors, often with a street-level garage. Each townhome shares at least one wall with neighbors, but has its own entrance, and area of land.
Condominium - A multi- unit housing development where each residential unit is individually owner and each owner has a common interest in the common areas. it does not have an area of land.
Loft - is a style not a type of real estate. A loft is a condominium generally in an older building not originally built for housing that has been converted to residential units. Lofts generally have high ceilings, exposed duct work and no interior doors. newly constructed loft building is designed to emulate the design and style of the older buildings.
Flat - is generally used to refer to an older building that has been subdivided into private residential units with each residential unit occupying a single floor. If each unit is individually owner it would also be considered a condominium.
Apartment - A multi unit residential building where all units are owned by one entity and each unit is rented out.