A multifamily owner is an individual, corporate entity, investment fund, or Real Estate Investment Trust (REIT) that holds legal title to residential real estate properties containing more than one housing unit. This asset class spans duplexes, triplexes, townhome rows, and massive garden-style or high-rise apartment complexes. Multifamily owners are responsible for overseeing asset management, capital expenditure budgets, strategic portfolio repositioning, property maintenance standards, and compliance with local housing regulations, generating returns through recurring tenant rental streams and long-term property appreciation.