ten•an•cy

1. Possession or occupancy of lands, buildings, or other property by title, under a lease, or on payment of rent.
2. The period of a tenant's occupancy or possession.
3. A habitation held or occupied by a tenant.
http://www.thefreedictionary.com/tenancy

The council house is a form of public or social housing in the United Kingdom. Council houses were built and operated by local councils to supply uncrowded, well built homes on secure tenancies at below market rents to primarily working class people.
http://en.wikipedia.org/wiki/Council_house