The types of residences are divided into low-rise residences, multi-storey residences, mid-high-rise residences and high-rise residences according to the “General Principles of Civil Building Design” and “Residential Design Code”. High-rise residential buildings.
Apartments are mainly divided into residential apartments (ordinary apartments), business apartments and hotel-style apartments according to several types commonly found in the market.
According to the nature of property rights, apartments can be roughly divided into three categories, first, rental type. It is for the purpose of renting out to tenants, so this type of apartment can be called a rental company.
Second, self-occupied. If it is a self-occupied apartment, we call it Condo or Co-Op. Each unit in Condo belongs to a different owner and has independent property rights. The unit users of Co-Op are equivalent to the shareholders of the company.
Obviously, to define what an apartment is from the perspective of commercial real estate in a broad sense, we only refer to buildings with five or more rental units, not Condo or Co-op, even though some people buy Condo or Co-Op for rent. It’s like buying a two-family for rent, but it’s not a commercial building. There is also a mixed type.
The mixed type usually has a part of commercial offices, shops, doctor’s clinics, etc., and the other part is Condo or Co-Op apartment units. In addition, we can divide the apartment into small apartment, garden apartment and high-rise apartment according to its structure and type.
