
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.
Industry Associations
National Association of Residential Property Managers
Sponsors educational programs. Supports the professional and ethical practices of rental home management through networking, education and certification.
Members: 1,200
Founded: 1988
Dues: professional, affiliate, $245 annual; support specialist, $100 annual.