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What is a right-of-occupancy dwelling?
Right-of-occupancy dwelling is a form of apartment management between owner-occupied dwelling and rental housing. The occupant pays a right-of-occupancy payment, which is 15% of the purchase price of the dwelling, and a monthly maintenance charge during occupancy. A right-of-occupancy dwelling is as safe a housing option as an owner-occupied dwelling though one cannot buy it for one’s own. When resigning one’s right of occupancy, the customer regains the right-of-occupancy payment adjusted with the building cost index.
housing
right-of-occupancy