Tenure is the legal conditions under which people live in their dwellings. Homes can be rented or owner occupied. If they are rented they can be rented from a private or public landlord. If homes are owner occupied, they may be owned with or without a mortgage, but, unlike rental properties, they can provide some financial benefits. One key advantage for many home buyers is that paying off a mortgage is a regular, forced form of saving, which yields security in later years.