Independent Rental Owners
The National Apartment Association (NAA) defines an Independent Rental Owner (IRO) as a member that owns 200 units or less, 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 Independent Rental Owners (IRO)
- They have their own money invested in the property (with or without partners) and oversee Multifamily OR Single-Family housing.
- They are actively involved in the management of their properties.
- They self-identify based on the above criteria and not by portfolio unit count
Considerations for Independent Rental Owners (IRO)
- Membership is defined by experience and not by unit count.IROs may consist of less than 10 units and can exceed over 6,000 units given the size of the independent investor. Resources are provided based on all levels of experience specific for each member.
- Smaller sized properties and portfolios generally require a unique property management style, as opposed to the management style used for properties of larger unit count.
- IRO Education and Networking opportunities may also be beneficial for those that work for an IRO, such as property managers, managing directors and other employees or those that conduct business with IROs, such as supplier partners.
- Self-identification is an important part of being an IRO. The NAA IRO program is built around all facets of multifamily management and encourages learning and conversation with likeminded individuals.
GCNKAA values our independent members and strives to provide them the most complete offering of resources available. Many owners request to meet other Independent Owners with apartment industry knowledge. We provide round table meetings to discuss topics of interest to Independent Owners. We meet 5 times a year In office or virtually. This is a great way to get to know one another.
Contact Jackson@gcnkaa.org for Questions
Some of our Member Benefits include:
- Membership with GCNKAA includes membership with Ohio Apartment Association, Kentucky Apartment Association & National Apartment Association.
- Home Depot Rebate Program
- Free Housing Mediation Services
- Free Fair Housing Posters
- Monthly Legislative Updates
- Lead Paint Booklets (.35 each)
- Ohio Worker’s Compensation Plan
- Educational Seminars
- Online Educational Classes
- NAA Designation Educational Certificate Courses (See IROP under Education Tab)
- Membership Directory
National Apartment Association
Connect with the National Apartment Association at www.naahq.org to find out about the NAA Blog, News & Events, Email sign up and Webinars – all for Independent Rental Owners.