What is the National Apartment Association?
The National Apartment Association: A Guide for Investors, Owners, and Landlords
The National Apartment Association (NAA) is a niche trade group for apartment investors, owners, and landlords, as well as service providers to the apartment industry. While the NAA serves as the national hub, it also has many local and state branch chapters, which leads to a plethora of networking and partnership opportunities. In addition to landlords, owners, and investors, the NAA also boasts suppliers, builders, developers, property managers, leasing consultants, and maintenance firms among its ranks.
While the main objective of the NAA is to offer benefits, networking opportunities, and educational courses to its membership, they also focus on giving back to the community, with efforts including a military career fair for transitioning military and military spouses, intended to provide them educational and networking opportunities within the apartment industry.
In addition, the National Apartment Association also sponsors research and advocacy efforts for the apartment industry. For example, In 2013, the NAA, along with the National Multifamily Housing Council (NMHC) released a study indicating that the apartment industry supports more than 25 million jobs across the country, while contributing more than $1 trillion to the U.S. economy.
Joining the National Apartment Association
Entities interested in joining the National Apartment Association must do so through joining a local branch/affiliate. Upon joining an affiliate, entities are automatically considered NAA members. There are approximately 150 affiliates in all 50 states and Washington, D.C., and even international affiliates in Canada and the U.K!
In order to find a NAA affiliate in your area, you can simply visit their affiliate search page. Membership typically consists of an annual fee, but the fee is determined at the local level, and therefore differs from affiliate to affiliate. NAA facilities generally offer education courses, community involvement and volunteering opportunities, as well as career mentoring and marketing assistance. Like many other industry groups, NAA members can also utilize a variety of discounts offered to members.
The National Apartment Association Education Institute (NAAEI)
In addition to providing the standard benefits and networking opportunities for members, the NAA is also strongly focused on education for its members. Their educational arm, the National Apartment Association Education Institute (NAAEI), offers high level training and certifications, including:
- Independent Rental Owner Professional Designation Course (IROP): Designed for independent landlord/investors, this course teaches elements of marketing, small business finance, operations management, property management, and public relations.
- Certified Apartment Manager (CAM): Designed for property management professionals, this course reviews property maintenance, legal basics, marketing, human resources, budgeting, marketing, risk management, and other essential skills.
- Certified Apartment Portfolio Supervisor (CAPS): Intended for property management supervisors, this course offers a higher level perspective on property management.
- National Apartment Leasing Professional (NALP): Created to deepen and enhance career training for leasing professionals, this course trains students in skills including sales, leasing agreements, lease renewals, tenant screening, marketing, and more.
- Certificate for Apartment Maintenance Technicians (CAMT): Developed for both new and experienced maintenance technicians, this course will outline the essentials of creating and implementing an effective property maintenance program.
What is the National Apartment Association (NAA)?
The National Apartment Association (NAA) is a niche trade group for apartment investors, owners, and landlords, as well as service providers to the apartment industry. While the NAA serves as the national hub, it also has many local and state branch chapters, which leads to a plethora of networking and partnership opportunities. In addition to landlords, owners, and investors, the NAA also boasts suppliers, builders, developers, property managers, leasing consultants, and maintenance firms among its ranks.
While the main objective of the NAA is to offer benefits, networking opportunities, and educational courses to its membership, they also focus on giving back to the community, with efforts including a military career fair for transitioning military and military spouses, intended to provide them educational and networking opportunities within the apartment industry.
In addition, the National Apartment Association also sponsors research and advocacy efforts for the apartment industry. For example, In 2013, the NAA, along with the National Multifamily Housing Council (NMHC) released a study indicating that the apartment industry supports more than 25 million jobs across the country, while contributing more than $1 trillion to the U.S. economy.
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What services does the NAA provide to apartment owners?
The National Apartment Association provides a variety of services to apartment owners, including networking and partnership opportunities, educational courses, and supplier discounts. They also sponsor research and advocacy efforts for the apartment industry, such as a military career fair for transitioning military and military spouses, and a study indicating that the apartment industry supports more than 25 million jobs across the country and contributes more than $1 trillion to the U.S. economy.
What are the benefits of joining the NAA?
The National Apartment Association (NAA) offers a variety of benefits to its members. Joining a local NAA affiliate provides an opportunity to network with other apartment owners, multifamily investors, and property managers in your area. Furthermore, NAA members can take advantage of supplier discounts, education courses, community involvement and volunteering opportunities, career mentoring, and marketing assistance.
You can find a NAA affiliate in your area by visiting their affiliate search page. Membership typically consists of an annual fee, but the fee is determined at the local level, and therefore differs from affiliate to affiliate.
What are the requirements for obtaining an apartment loan from the NAA?
In order to get an apartment loan from the National Apartment Association (NAA), you would first need to get approved. Approval criteria varies with different lenders and loan types across programs, but in general, borrowers will need to have good credit (660+ is typically expected) and between 25-30% of the total loan amount as a down payment. Additionally, the property itself will need to have a debt service coverage ratio or DSCR, of 1.25-1.30x. This means that the building’s income will need to exceed its annual debt service by at least 25-30%. Skin in the game is equally important in most cases, but that does not mean first time investors are automatically overlooked.
In order to join the NAA, you can visit their affiliate search page. Membership typically consists of an annual fee, but the fee is determined at the local level, and therefore differs from affiliate to affiliate.
How can I find an NAA-approved lender for an apartment loan?
You can find an NAA-approved lender for an apartment loan by visiting the NAA affiliate search page. You can also contact your local NAA affiliate for more information on approved lenders in your area. Additionally, you can contact the National Apartment Association directly at https://www.naahq.org/contact-us for more information on approved lenders.
Should You Join The National Apartment Association?
Depending on your goals as an apartment investor, owner or landlord, a membership with the NAA could be highly beneficial. If you're looking for an opportunity to network with other apartment owners, multifamily investors, and property managers in your area, joining your local NAA affiliate may be your best solution. Furthermore, National Apartment Association membership can be beneficial if you’d like to make use of any of the supplier discounts they offer.
However, if you’re considering NAA membership for this reason alone, make sure that you will actually be using one or more of the suppliers that offer discounts through the group. When it comes to investing in apartment mortgages, no one organization will make or break your success, but, over the long term, any group that can expand your professional network, including the NAA, will generally have a positive impact.