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==Terminology==
The term ''apartment'' is favoured in North America (although in some Canadian cities, ''flat'' is used for a unit which is part of a house containing two or three units, typically one to a floor<ref>{{cite web|url=https://www.lexico.com/definition/apartment|archive-url=https://web.archive.org/web/20201022203609/https://www.lexico.com/definition/apartment|url-status=dead|archive-date=22 October 2020|title=Apartment {{!}} Meaning of Apartment by Lexico|website=Lexico Dictionaries {{!}} English|language=en|access-date=2020-01-22}}</ref>). In the UK, the term ''apartment'' is more usual in professional [[real estate]] and [[architectural]] circles where otherwise the term ''flat'' is used commonly, but not exclusively, for an apartment on a single level (hence a
In some countries, the word "[[Unit (housing)|unit]]" is a more general term referring to both apartments and rental business [[Suite (address)|suite]]s. The word 'unit' is generally used only in the context of a specific building.
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In [[American English]], the distinction between rental apartments and [[Condominium (living space)|condominium]]s is that while rental buildings are owned by a single entity and rented out to many, condominiums are owned individually, while their owners still pay a monthly or yearly fee for building upkeep. Condominiums are often leased by their owner as rental apartments. A third alternative, the [[Housing cooperative|cooperative apartment]] building (or "co-op"), acts as a corporation with all of the tenants as shareholders of the building. Tenants in cooperative buildings do not own their apartment, but instead own a proportional number of shares of the entire cooperative. As in condominiums, cooperators pay a monthly fee for building upkeep. Co-ops are common in cities such as New York, and have gained some popularity in other larger urban areas in the U.S.
In [[British English]] the usual word is "flat", but ''apartment'' is used by property developers to denote expensive
In India, the word flat is used to refer to multi-storey dwellings that have lifts.
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