Residential Rental Property: A Fun Exploration
Which of the following assets qualifies as residential rental property?
A. office furniture leased to businesses
B. duplex rented to individuals and families
C. hotels and motels
D. single-family rental homes
E. shopping mall space rented to shops/stores
F. apartment building
Final answer: Residential rental property must be used as a residence.
Answer:
The assets that qualify as residential rental property are duplex rented to individuals and families, single-family rental homes, and apartment buildings.
Assets that qualify as residential rental property are those that are used as a residence by tenants. Among the options provided, the assets that fit into this category are:
- Duplex rented to individuals and families
- Single-family rental homes
- Apartment building
These types of properties are designed for people to live in and are rented out for residential purposes. They provide housing and can also serve as a financial investment, offering a rate of return in the form of capital gains. Office furniture, hotels, motels, and shopping mall spaces do not qualify as residential rental property as they are used for business and commercial purposes rather than being a place where people reside.