What is the purpose of the NAA?
Purpose. NAA’s purpose is to support an industry that offers safe, affordable multifamily housing to the public, equitably compensates its workforce, and provides investors with a fair and reasonable rate of return.
What does NAA stand for in real estate?
Definition of “National Apartment Association (NAA)” It consists of 60 state and local associations of managers, investors, developers, owners, and builders of apartment houses and other residential rental property. It has certification programs dealing with apartment management, maintenance, and property supervision.
What does multi family home stand for?
A multifamily home is any residential property that contains more than one housing unit, such as a duplex, a townhome or an apartment complex.
What is the difference between multifamily and condo?
Some multi-family homes have a separate entrance for each unit, while some share a main entrance. The distinction between multi-family units and condos is that the units can’t be purchased individually; there’s one owner for the whole building.
How many members are in the NAA?
As a federation of nearly 170 state affiliates, NAA encompasses over 75,000 members representing more than 9.25 million apartment homes globally.
What are the features of a multifamily home?
Multifamily homes must have kitchens and bathrooms for each unit, as well as separate entrances and utility meters. In the real estate sphere, a multifamily home is a property with 5 units or more. Properties with more than 4 units are also referred to as commercial properties.
What are multi-family dwelling units?
Multifamily housing is characterized by multiple units in a single building or connected by shared walls. It can be developed at a range of heights and densities, from low-rise duplexes to high-rise apartment complexes, and can be rental or ownership housing.