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Business Glossary
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Definitions for: residential rental property
residential rental property

rental units used for dwelling purposes, not of a transient (hotel, motel) nature. To qualify as residential, at least 80% of a building's income should be derived from dwelling units. This type of property is eligible for a 27½ -year life for tax depreciation purposes, as compared to a 39-year life for nonresidential property.

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Industry Associations

Industry Associations
National Caucus and Center on Black Aged
Seeks to improve living conditions for low-income elderly Americans, particularly blacks. Advocates changes in federal and state laws in improving the economic, health, and social status of low-income senior citizens. ...

Members: 3,000
Founded: 1970