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Multi-residential property assessments

What is a multi-residential property?


Any residential property with four or more self-contained dwelling units under a single legal description with Alberta Land Titles is considered to be a multi-residential (MR) property for assessment and taxation purposes. This does not include titled condominium properties.

Types of multi-residential properties


There are many types of multi-residential properties. Scroll through the pictures below to learn more about each.

Fourplex

Four-unit structures that are typically designed in an up and down, or front-to-back layout.

High rise

Structures that equal 5 of more stories in height and have a common entrance / exit where the entry doors to each suite are within the building.

Low rise

Structures that are 1 to 4.5 stories in height, and have a common entrance / exit where the entrance doors to each suite are located within the building.

Townhouse

Units that have an individual entrance at ground level while adjoining each other side by side. Stacked townhouses have units that are above each other.

Collectives and Rooming House

Rental units within a building that do not conform to the typical multi-residential layout.

Mixed Structure Types

These accounts have any type of combinaton of the other noted structure types on one title such as a mix of high and low rise, low rise and townhouse, etc.

Co-ops

Housing co-ops are member-owned and controlled properties that are democratically run.

How are multi-residential properties assessed?


Multi-residential properties are assessed using the income approach to value. This approach estimates the value of a property based on the income it generates by applying a gross income multiplier

Gross income multipliers are derived from market analysis (sales) and are applied to each property's typical market rent and vacancy to estimate the market value for assessment purposes.

Typical market rents and vacancy are determined by analyzing rental data obtained annually from building owners through the Assessment Request for Information (ARFI) process.

Key factors, components and variables affecting value:

  • Property type
  • Location (MR zone)
  • Core vs non-core
  • Mixed use (Commercial space within)
  • Number of units
  • Quality
  • Suite type
  • Occupancy

To learn more about real estate market trends, our valuation methodology, and multi-residential sales transactions please download the Market Trend report.

Assessment Search is our online resource for property and business owners to access more detailed information about their assessment and property details.

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