Residential Rental Property Law and Legal Definition
Residential rental property is a type of rented real property, such as a house or apartment complex. It shall derive more than 80 percent of its revenue from dwelling units. Generally, residential rental property uses 27.5 year modified accelerated cost recovery system (MACRS) schedule for its depreciation. Revenue from residential rental property is a passive income.
Legal Definition list
- Residential Real Property
- Residential Property
- Residential Mortgage-Backed Securities (RMBS)
- Residential Mortgage Transaction
- Residential Mortgage Loan
- Residential Rental Property
- Residential Solid Waste
- Residential Structure
- Residential Substance Abuse Treatment Program
- Residential Treatment Facility [Juvenile Law]
- Residential Use or Residential Load
