5311 - Lessors of Real Estate
Navigating the world of government contracting or business classification can be complex, but knowing your NAICS code is a crucial step. If you’re involved in leasing or managing properties, NAICS code 5311 - Lessors of Real Estate is especially relevant. This industry code captures businesses primarily engaged in leasing real estate properties without offering substantial additional services. Whether you lease residential apartments, commercial office spaces, or industrial properties, this code applies to your operations.
What is NAICS Code 5311?
NAICS code 5311 falls under the Real Estate and Rental and Leasing sector and specifically represents businesses that act as lessors of real estate. These establishments lease various types of real estate to tenants but do not provide significant services beyond basic maintenance of the property.
Key points about NAICS 5311:
- Focuses on leasing real estate properties
- Includes residential, commercial, and industrial properties
- Excludes businesses that provide substantial tenant services beyond maintenance
Understanding this code helps in market research, regulatory compliance, and when applying for government contracts or certifications.
Sector Overview: Real Estate and Rental and Leasing
NAICS Code 5311 sits within the broader Real Estate and Rental and Leasing sector, which encompasses a variety of business activities related to real estate ownership, rental, leasing, and property management. Within this sector, lessors of real estate are a vital segment, providing essential spaces for living, work, and industrial uses.
Typical Business Activities under NAICS 5311:
- Leasing residential real estate such as apartments, single-family homes, and condos
- Leasing commercial office buildings and retail spaces
- Leasing industrial properties like warehouses and manufacturing facilities
- Managing properties with limited services (no full property management or extensive tenant services)
Size Standards for NAICS 5311
For government contracting and SBA (Small Business Administration) purposes, size standards are important to determine eligibility for small business programs.
- Size Standard: Typically, lessors of real estate businesses are considered small if their annual receipts do not exceed $8 million.
Be sure to check the current SBA standards, as size standards can occasionally be updated.
Examples of Businesses Under NAICS 5311
To clarify, here are some examples of businesses that operate under NAICS code 5311:
- Residential Property Lessors: Companies leasing apartment complexes or single-family rental homes.
- Commercial Office Building Lessors: Businesses leasing office buildings or retail centers to tenants.
- Industrial Property Lessors: Lessors who provide warehouses, distribution centers, or manufacturing properties for rent.
NAICS Code 5311 Details Table
| NAICS Code | Title | Description | Sector | Size Standard | Typical Business Types |
|---|---|---|---|---|---|
| 5311 | Lessors of Real Estate | Establishments primarily engaged in leasing residential, commercial, and industrial properties with limited services beyond maintenance | Real Estate and Rental and Leasing | Annual receipts ≤ $8M | Residential property lessors, commercial office lessors, industrial property lessors |
Frequently Asked Questions (FAQs) About NAICS 5311
What types of properties are included under NAICS 5311?
NAICS 5311 covers residential, commercial, and industrial real estate properties primarily leased to tenants without extensive additional services.
Does property management fall under NAICS 5311?
No. Property management services that include tenant services beyond basic maintenance typically fall under a different NAICS code, such as 53131 (Real Estate Property Managers).
How do I determine if my business qualifies as small under NAICS 5311?
Most lessors of real estate are considered small if their annual receipts are $8 million or less. Check the SBA website for any updates or specific criteria.
Can a business provide some tenant services and still be under NAICS 5311?
Yes, as long as those services are limited to basic maintenance and do not constitute substantial services like cleaning, security, or extensive property management.
Understanding NAICS code 5311 helps real estate lessors correctly classify their businesses for government contracting and market analysis. Remember to review size standards regularly and ensure your business activities align with the code’s scope to take advantage of relevant programs and opportunities.
