The National Apartment Association (NAA) defines an Independent Rental Owner (IRO) as a member that owns or manages a small number of rental properties, and is actively involved, from ownership perspective, in the management of properties. Typically, these properties are defined as having a small number of rental units at any single location. These smaller-management sized properties generally require a unique property management style, as opposed to the management style used for properties of larger-sized companies.

Main Characteristics of an Independent Rental Owner

• They have their own money invested in the property
• They have other, full-time jobs
• They work alone, with no (or few) employees
• Their subcontractors and vendors are very important to them
• They may have several types of properties, sometimes spread out geographically
• The time they can spend on their rental properties is limited
• They have little time to spend on Association activities and training, so the training must provide direct and immediate value

Independent Rental Owners Course

Maximizing the value of your asset is the name of the game. The Rental Owners Course covers fundamentals of property management - the skills needed for success. This course is tailored to meet the unique needs of the independent rental housing owner.

Topics include:

• Ownership and property management
• Employees
• Preparing the property
• Rent, Marketing, Applications and Screening
• Rental Agreements and Leasing forms
• Resident Retention
• Taxes and Protecting your investment
• Resident Problems
• End of lease and Evictions
• Section 8

We are planning for a fall session with added material! If you are interested in attending our next ROC Session please contact Toni Frisch at the Association office.

Do It Yourself Series

The Do It Yourself Series (DIY) is a series of courses geared towards the independent owners who do all the aspects of property management themselves as well as maintenance techs who are new to the industry. Offered throughout the year these courses are right to the point seminars that provide hands- on experience for all attendees. Topics have included:

• Ceramic Tile
• Sink and Faucets
• Disposals and Dishwashers
• Plumbing
• Door, Locks and Hinges