Tenement

Definition of 'Tenement'


A housing structure that has several houses or units put together, often called an apartment. The word "tenement" was used most frequently many years ago to reference housing usually inhabited by lower income families. These buildings are simple rental properties that are more practical for those unable to afford a house or for those who would like to live in an area, such as city centers, where there are no houses to purchase.

Investopedia explains 'Tenement'


A tenement is any type of property, such as an estate or land, that is owned by one person and leased to another. Although a tenement has many units attached together under one roof, they are divided by walls to give each family or occupant his or her own space and privacy. The rental agreement usually involves a contract that specifies the period the apartment will be leased out to the renter (or tenant) and the cost of renting the property.

Tenements are picking up in popularity as housing costs rise and people move closer into the city center (or downtown) to save money on transportation, mortgage costs, house renovations and taxes.


Filed Under: ,

comments powered by Disqus
Hot Definitions
  1. Genuine Progress Indicator - GPI

    A metric used to measure the economic growth of a country. It is often considered as a replacement to the more well known gross domestic product (GDP) economic indicator. The GPI indicator takes everything the GDP uses into account, but also adds other figures that represent the cost of the negative effects related to economic activity (such as the cost of crime, cost of ozone depletion and cost of resource depletion, among others).
  2. Accelerated Share Repurchase - ASR

    A specific method by which corporations can repurchase outstanding shares of their stock. The accelerated share repurchase (ASR) is usually accomplished by the corporation purchasing shares of its stock from an investment bank. The investment bank borrows the shares from clients or share lenders and sells them to the company.
  3. Microeconomic Pricing Model

    A model of the way prices are set within a market for a given good. According to this model, prices are set based on the balance of supply and demand in the market. In general, profit incentives are said to resemble an "invisible hand" that guides competing participants to an equilibrium price. The demand curve in this model is determined by consumers attempting to maximize their utility, given their budget.
  4. Centralized Market

    A financial market structure that consists of having all orders routed to one central exchange with no other competing market. The quoted prices of the various securities listed on the exchange represent the only price that is available to investors seeking to buy or sell the specific asset.
  5. Balanced Investment Strategy

    A portfolio allocation and management method aimed at balancing risk and return. Such portfolios are generally divided equally between equities and fixed-income securities.
  6. Negative Carry

    A situation in which the cost of holding a security exceeds the yield earned. A negative carry situation is typically undesirable because it means the investor is losing money. An investor might, however, achieve a positive after-tax yield on a negative carry trade if the investment comes with tax advantages, as might be the case with a bond whose interest payments were nontaxable.
Trading Center