531110 - Lessors of Residential Buildings and Dwellings
If you're navigating the world of real estate leasing or government contracting, understanding NAICS code 531110 is essential. This code specifically identifies businesses involved in the renting and leasing of residential propertiesāfrom cozy apartments to sprawling single-family homes. Whether you're a landlord, a property management company, or an investor, NAICS 531110 defines a vital segment within the Real Estate and Rental and Leasing sector.
What is NAICS Code 531110?
NAICS code 531110 stands for Lessors of Residential Buildings and Dwellings. This industry classification covers establishments primarily focused on renting or leasing a variety of residential properties, including:
- Apartments
- Single-family homes
- Townhouses
- Duplexes
- Manufactured homes
These businesses not only lease residential buildings but also manage these properties and collect rent from tenants.
Sector Overview: Real Estate and Rental and Leasing
NAICS 531110 falls under the broader Real Estate and Rental and Leasing sector, emphasizing activities related to property management and leasing rather than property development or sales. Lessors in this category specialize solely in residential properties, setting them apart from commercial or industrial real estate lessors.
Typical Business Activities Include:
- Leasing apartments and apartment buildings
- Renting single-family houses and townhouses
- Managing residential dwelling units
- Operating retirement or residential hotels
- Leasing manufactured or mobile homes on-site
Size Standard for NAICS 531110 Eligibility
The Small Business Administration (SBA) establishes size standards to determine eligibility for small business contracts. For NAICS code 531110, the size standard is $34 million in average annual receipts. Businesses earning at or below this amount are considered small and eligible for certain government contracting opportunities.
Examples of Businesses Under NAICS 531110
- Apartment building lessors leasing multi-unit residential buildings
- Single-family home lessors managing and renting out individual houses
- Townhouse lessors specializing in leasing townhouse properties
- Housing authorities owning and operating residential buildings
- Equity Real Estate Investment Trusts (REITs) primarily leasing residential units
NAICS Code 531110 - Code Details Table
| Description | Classification |
|---|---|
| Apartment building rental or leasing | Yes |
| Apartment hotel rental or leasing | Yes |
| Apartment rental or leasing | Yes |
| Building, apartment, rental or leasing | Yes |
| Building, residential, rental or leasing | Yes |
| Cottage rental or leasing | Yes |
| Duplex houses (single-family) rental or leasing | Yes |
| Dwelling rental or leasing | Yes |
| Equity real estate investment trusts (REITs), leasing residential buildings | Yes |
| Houses rental or leasing | Yes |
| Housing authorities owning and operating residential buildings | Yes |
| Lessors of residential buildings and dwellings | Yes |
| Mobile (manufactured) home rental or leasing, on-site | Yes |
| Real estate rental or leasing of residential buildings | Yes |
| Residential building rental or leasing | Yes |
| Residential hotel rental or leasing | Yes |
| Retirement hotel rental or leasing | Yes |
| Single-family house rental or leasing | Yes |
| Townhouse rental or leasing | Yes |
Frequently Asked Questions (FAQs)
What types of properties are covered under NAICS 531110?
Properties mainly include apartments, single-family homes, townhouses, duplexes, cottages, mobile/manufactured homes, residential hotels, and retirement hotels intended for residential leasing.
Does NAICS 531110 include property management services?
While managing residential properties is part of many businesses under this code, pure property management firms that do not lease or rent properties themselves typically fall under different NAICS codes.
Can equity REITs be classified under NAICS 531110?
Yes, equity real estate investment trusts primarily leasing residential buildings fall within this code as lessors of residential buildings and dwellings.
What is the SBA size standard for NAICS 531110?
The size standard is $34 million in average annual receipts, meaning businesses below this revenue threshold are classified as small for contracting purposes.
Are mobile homes included in NAICS 531110?
Yes, mobile (manufactured) home rental or leasing on-site is included under this classification.
Understanding NAICS code 531110 is essential for professionals involved in the residential leasing sector, especially those targeting government or commercial opportunities. By aligning your business activities with this classification, you can better navigate compliance, contracting, and marketing within the residential real estate leasing industry.
