Tax transparency - puts unitholders in the same position as if they had invested directly in real estate. Dividend yield - mandatory distribution rules make REITs attractive to investors interested in yield. Liquidity - unlike partnerships and some other traditional real estate investment vehicles, units of listed REITs are traded on stock exchanges. Diversification and professional management - REITs allow investors to minimise risks by investing in a property portfolio managed by real estate professionals. Low leverage - the gearing ratio in REITS generally does not exceed 50%. Performance monitored - independent directors, analysts, auditors, and media monitor REITs. Managers will often have a stake in ownership. High Level of regulation