Lessors of Residential Buildings and Dwellings
Description
This industry comprises establishments primarily engaged in acting as lessors of buildings used as residences or dwellings, such as single-family homes, apartment buildings, and town homes. Included in this industry are owner-lessors and establishments renting real estate and then acting as lessors in subleasing it to others. The establishments in this industry may manage the property themselves or have another establishment manage it for them.
Hierarchy
| Code | Title | Description |
|---|---|---|
| 53 | Real Estate and Rental and Leasing 2-digit sector | The Sector as a Whole The Real Estate and Rental and Leasing sector comprises establishments primarily engaged in renting, leasing, or otherwise allowing the use of tangible or intangible assets, and establishments providing related services. The major portion of this sector comprises establishments that rent, lease, or otherwise allow the use of their own assets by others. The assets may be tangible, as is the case of real estate and equipment, or intangible, as is the case with patents and trademarks. This sector also includes establishments primarily engaged in managing real estate for others, selling, renting, and/or buying real estate for others, and appraising real estate. These activities are closely related to this sector's main activity, and from a production basis they are included here. In addition, a substantial proportion of property management is self-performed by lessors. The main components of this sector are the real estate lessors industries (including equity real estate investment trusts (REITs)); equipment lessors industries (including motor vehicles, computers, and consumer goods); and lessors of nonfinancial intangible assets (except copyrighted works). Excluded from this sector are establishments primarily engaged in renting or leasing equipment with operators. Establishments renting or leasing equipment with operators are classified in various subsectors of NAICS depending on the nature of the services provided (e.g., transportation, construction, agriculture). These activities are excluded from this sector because the client is paying for the expertise and knowledge of the equipment operator, in addition to the rental of the equipment. In many cases, such as the rental of heavy construction equipment, the operator is essential to operate the equipment. Also excluded from this sector are mortgage REITs and establishments primarily engaged in managing the financial portfolio assets of REITs on a fee or commission basis. These establishments are classified in Sector 52, Finance and Insurance. |
| 531 | Real Estate 3-digit subsector | Industries in the Real Estate subsector group establishments primarily engaged in renting or leasing real estate to others; managing real estate for others; selling, buying, or renting real estate for others; and providing other real estate related services, such as appraisal services. This subsector includes equity real estate investment trusts (REITs) primarily engaged in leasing buildings, dwellings, or other real estate property to others. Mortgage REITs are classified in Subsector 525, Funds, Trusts, and Other Financial Vehicles. Establishments primarily engaged in subdividing and developing unimproved real estate and constructing buildings for sale are classified in Subsector 236, Construction of Buildings. Establishments primarily engaged in subdividing and improving raw land for subsequent sale to builders are classified in Subsector 237, Heavy and Civil Engineering Construction. |
| 5311 | Lessors of Real Estate 4-digit industry group | This industry group comprises establishments primarily engaged in acting as lessors of (1) residential buildings and dwellings; (2) nonresidential buildings (except miniwarehouses); (3) miniwarehouses and self-storage units; and (4) other real estate property. This industry group includes equity real estate investment trusts (REITs) primarily engaged in leasing buildings, dwellings, or other real estate property to others. |
| 53111 | Lessors of Residential Buildings and Dwellings 5-digit NAICS industry | See industry description for 531110. |
| 531110 | Lessors of Residential Buildings and Dwellings 6-digit U.S. detail | This industry comprises establishments primarily engaged in acting as lessors of buildings used as residences or dwellings, such as single-family homes, apartment buildings, and town homes. Included in this industry are owner-lessors and establishments renting real estate and then acting as lessors in subleasing it to others. The establishments in this industry may manage the property themselves or have another establishment manage it for them. |
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Classification References
- 01Managing residential real estate for others--are classified in U.S. Industry 531311, Residential Property Managers; and
- 02Providing short-term lodging in facilities, such as hotels, motels, casino hotels, and bed-and-breakfast inns--are classified in Industry Group 7211, Traveler Accommodation.
Index Items
Apartment building rental or leasing
Apartment hotel rental or leasing
Apartment rental or leasing
Building, apartment, rental or leasing
Building, residential, rental or leasing
Cottage rental or leasing
Duplex houses (i.e., single-family) rental or leasing
Dwelling rental or leasing
Equity real estate investment trusts (REITs), primarily leasing residential buildings and dwellings
Houses rental or leasing
Housing authorities owning and operating residential buildings
Lessors of residential buildings and dwellings
Mobile (manufactured) home rental or leasing, on-site
Real estate rental or leasing of residential building
Residential building rental or leasing
Residential hotel rental or leasing
Retirement hotel rental or leasing
Single-family house rental or leasing
Town house rental or leasing
How Item Can Help
Data Intelligence predicts rental demand trends, enabling businesses to dynamically adjust lease rates and optimize staff allocation based on seasonal occupancy patterns.
External Resources
Census.gov NAICS Detail
Official US Census Bureau definition and scope for NAICS 531110.
National Multifamily Housing Council
Industry association providing resources for multifamily housing operators and investors.
U.S. Department of Housing and Urban Development
Federal government portal offering guidance on residential property standards and housing policy.
RealtyMogul
Industry directory listing real estate portfolios and lessors of residential buildings.
