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An apartment is a self-contained housing unit that occupies only part of a building. Apartments may be owned (by an owner-occupier) or rented (by tenants).
The term "apartment" is favored in North America, whereas the term "flat" is sometimes, but not exclusively, used in the United Kingdom and most other English-speaking areas and Commonwealth nations[citation needed].
Some apartment-dwellers own their own apartments, either as co-ops, in which the residents own shares of a corporation that owns the building or development; or in condominiums, whose residents own their apartments and share ownership of the public spaces. Most apartments are in buildings designed for the purpose, but large older houses are sometimes divided into apartments. The word apartment connotes a residential unit or section in a building. In some locations, particularly the United States, the word denotes a rental unit owned by the building owner, and is not typically used for a condominium.
The word unit is a more general term referring to both apartments and rental 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."
