1
                                                                    EXHIBIT 23.3


                        CONSENT OF INDEPENDENT AUDITORS


   
We consent to the reference to our firm under the caption "Experts" in Amendment
No. 11 to the Registration Statement (Form S-4 No. 333-60355) and related 
Prospectus of Apartment Investment and Management Company for the registration 
of $600,000,000 of its Preferred Stock and Class A Common Stock and of AIMCO 
Properties, L.P. for the registration of $200,000,000 of its Partnership 
Preferred Units and $200,000,000 of its Partnership Common Units and to the 
incorporation by reference therein of our report dated February 13, 1998, 
except for Note 20, as to which the date is March 19, 1998, with respect to the 
consolidated financial statements of Insignia Financial Group, Inc. as of 
December 31, 1997 and 1996, and for each of the three years in the period ended 
December 31, 1997 included as exhibit 99.2 in Apartment Investment and 
Management Company's Current Report on Form 8-K dated March 17, 1998 (and 
Amendment No. 1 thereto filed April 3, 1998), filed with the Securities and 
Exchange Commission.
    



                                                          /s/ Ernst & Young LLP
                                                          ---------------------
   
    


   
Greenville, South Carolina
March 25, 1999