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Residential Rental Property

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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 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.