Class A/B/C properties are an industry shorthand for grouping apartment communities by factors such as age, condition, amenities, location, and rent level. Class A generally refers to newer, higher-quality properties with stronger amenities and top market rents; Class B usually sits in the middle; Class C typically refers to older, more affordable properties that may require more hands-on maintenance and capital planning. The labels are useful, but they are not a formal regulated standard and can vary by market.