Volume: 70 | Issue: 1 | Download
Multi-Family housing is described as buildings with more than four residential units. It is primarily residential rental property but also includes townhouses and condominiums. The market itself is fragmented with individuals who own multiple properties, local singleton properties held by one owner, and large complexes owned by larger corporations who also build and operate other commercial properties such as class A, B and C space. In addition companies who build developments of single family homes often own multi-family apartment complexes or townhouses both of which may be co-mingled in the same development. The flooring industry is broken into several segments and the Multi-Family housing market is one of them. The unique feature of this market is that it is serviced by three varying flooring groups; commercial flooring contractors who often have a division for this, retail dealers who participate in the segment, possibly with a Main Street Market (small business) division and true dedicated multi-family flooring contractors who often supply other services such as kitchens and bathrooms. In addition the manufacturers may be selling direct to the large projects.