The program is an initiative to train, promote and develop qualified professionals for the multifamily rental housing industry in the state. It is being offered through UNT's College of Business Administration, Department of Finance, Insurance, Real Estate and Law.

The association has created the TAA Education Foundation to raise funds from the multifamily industry to support the program. To date, a $25,000 check has been presented to UNT to begin incorporating program changes within existing real estate classes and add courses specifically aimed at residential property management. The two-year course begins in the fall 2002 semester. TAA also plans to fund an industry-supported, permanently endowed $500,000 property management "chair" professorship as well as scholarships, research and ongoing program support.

UNT will be the first university in the nation to offer a degree from a College of Business Administration with a major in real estate. "Texas is home to more large owners, developers and management companies of apartments than any other state in the country," Ron Shelton, TAA's president, said in a prepared statement. "A graduate from the UNT RPM degree program will have the background and skills needed to advance in the fast-paced, growing multifamily rental housing industry in Texas."

According to a UNT press release, nearly 40% of all Texans live in rental units. The apartment association's 9,600 members own or manage nearly 1.5 million sf of for-rent apartments that employ 75,000 people and house in excess of 3.5 million residents.