The FHA 236 program provides an interest-rate subsidy for apartment owners, who are required to pass the interest savings on to tenants through reduced rents.
In multifamily residential properties, a 'unit' refers to a self-contained suite of rooms designed to be occupied by one tenant or family. Each unit typically features a private entrance and may be personalized to maintain a level of individuality separate from other units in the same building or complex.
Residential refers to properties intended for people to live in, which includes housing projects such as single-family homes, condominiums, apartments, and townhouses.
