The aim of the research is to evaluate the legal, economic and organizational aspects of apartment house management based on the analysis of the information gathered within the research process. The analytical part of the research deals with the historical aspects of apartment property privatization, the procedure of residential house privatization process, summarizes information about the situation in other countries and summarizes the most significant problems related to the management of apartment buildings. In the theoretical part, a comprehensive description of Latvian multi-apartment residential buildings has been provided and an analysis of the regulatory enactments regulating Latvian housing stock has been performed, paying special attention to management activities. In the practical part of the research, the processes related to the implementation of apartment privatization and management are analysed and compared, considering in whose possession is the building. In addition, an insight into management-related expenditures is provided and the factors influencing them are explored. Based on the collection and analysis of information, authors conclude that the main problems in the industry are related to the complex regulatory framework, bureaucratic processes, ignorance and disinterest of apartment owners, as well as insufficient qualifications of managers.