Lot
A lot is a part of a neighborhood where Sims and objects can exist.
In The Sims and The Sims 2, Sims could not go outside lots. The Sims 3 allows Sims to explore lands between lots.
Lots are mainly divided into residential lots where Sims live, and community lots where they can interact with other Sims.
The Sims 2 expansion packs added new lot types - such as dorms and secret societies (University), hotels and beaches (Bon Voyage) and apartments (Apartment Life).
The Sims 3 has the lot type rabbit hole. Sims can enter these buildings but the player cannot see the inside or interact with their Sim while they are inside.
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A community lot
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A rabbit hole
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A hotel
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An apartment building