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Residential real estate investment trusts, also known as residential REITs, are public corporations that are organized under special federal tax provisions. The corporation buys multi-family apartment buildings, manufactured housing, and other types of residential real estate as part of a portfolio development strategy. It manages and rents the units during the life of the investment. Capital appreciation and operating profits form the basis of dividend payments to investors.
Investors buy shares in residential real estate investment trusts. These shares are either offered on a public stock exchange or through a private offering. The tax law exempts REITs from paying taxes on income at the corporate level, as long as at least 90 percent of profits are distributed to investors as dividends. Residential real estate investment trusts are a specialty form of this type of entity. Ordinary REITs invest in all types of commercial property, including office buildings and shopping centers.
The managers of residential real estate investment trusts decide which residential properties to purchase for the corporation's portfolio. These managers function in the same way as managers of mutual funds. Investors evaluate the investment strategies and track records of managers to make investment decisions. Read more about residential real estate investment trusts from the links on this Business.com page.
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