Cohousing communities in the U.S. currently rely on one of two existing legal forms of real estate ownership: individually titled houses with common areas owned by a homeowner association (condominiums) or a housing cooperative. Condo ownership is most common because it fits financial institutions' and cities' models for multi-unit owner-occupied housing development. U.S. banks lend more readily on single-family homes and condominiums than housing cooperatives. Charles Durrett points out that rental cohousing is a very likely future model, as it already is being practiced in Europe. In Australia, due to higher legal complexity of cooperatives, cohousing projects are most commonly developed under limited proprietary company with cooperative-like rules.