PROPERTY OWNERS AND MANAGERS SURVEY
                      MULTI FAMILY PROPERTIES:  HOW LONG HAS OWNER OWNED RENTAL PROPERTY
                                      TABLE 111
    
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    !                     !          !          TYPE OF MULTI FAMILY PROPERTY                   !
    !                     !          !__________________________________________________________!
    !                     !  TOTAL   !         !        !        !         !          ! 50 OR   !
    !                     ! UNITED   !         ! 3 TO 4 ! 5 TO 9 ! 10 TO 19! 20 TO 49 ! MORE    !
    !                     ! STATES   ! 2 UNITS ! UNITS  ! UNITS  !  UNITS  !  UNITS   ! UNITS   !
    !___________________________________________________________________________________________!
    !TOTAL UNITED STATES  ! 20584822 ! 3084750 !2471070 !1894445 ! 1467786 !  2223786 ! 9442986 !
    !___________________________________________________________________________________________!
    !HOW LONG HAS OWNER   !          !         !        !        !         !          !         !
    !OWNED RENTAL PROPERTY!          !         !        !        !         !          !         !
    !_____________________!          !         !        !        !         !          !         !
    !INDIVIDUAL OR        ! 16915073 ! 2952717 !2347318 !1712747 ! 1236154 !  1857946 ! 6808191 !
    !PARTNERSHIP OWNERS*  !          !         !        !        !         !          !         !
    !___________________________________________________________________________________________!
    ! LESS THAN 1 YEAR    !   235028 !   81441 !  38850 !  42623 !    7118 !     4573 !   60423 !
    !___________________________________________________________________________________________!
    ! 1 UP TO 3 YEARS     !   424667 !  105762 ! 102509 !  60306 !   17435 !    35477 !  103178 !
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    ! 3 UP TO 5 YEARS     !   632504 !  213936 ! 127082 !  63567 !   46386 !    50256 !  131277 !
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    ! 5 UP TO 10 YEARS    !  1527421 !  424570 ! 298093 ! 227238 !   86254 !   147546 !  343720 !
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    ! 10 YEARS OR MORE    !  8769692 ! 1778863 !1420383 ! 970026 !  758710 !  1062945 ! 2778765 !
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    ! NOT REPORTED*       !  5325765 !  348148 ! 360401 ! 348987 !  320252 !   557149 ! 3390828 !
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    !OTHER OWNERS         !  3669747 !  132031 ! 123751 ! 181698 !  231630 !   365840 ! 2634797 !
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     *NOTE: Includes not reported on type of owner