531190 - Lessors of Other Real Estate Property
When it comes to government contracting and industry classification, understanding the nuances of NAICS codes is essential for businesses to position themselves strategically. One such important classification is NAICS code 531190, titled Lessors of Other Real Estate Property. This category plays a significant role in the Real Estate and Rental and Leasing sector, covering a variety of real estate leasing activities not classified under more common real estate codes.
What is NAICS Code 531190?
NAICS code 531190 includes establishments primarily engaged in acting as lessors of real estate property not classified elsewhere. This means these businesses lease land, manufactured home sites, and other types of real estate properties without providing substantial services like maintenance or hospitality. Essentially, these lessors offer space and property for use but don't engage in managing buildings or providing tenant services.
Sector Overview: Real Estate and Rental and Leasing
NAICS 531190 falls under the broad sector of Real Estate and Rental and Leasing, which consists of companies involved in renting, leasing, or otherwise allowing the use of tangible or intangible assets. In this sector, lessors focus primarily on leasing propertyâranging from agricultural lands to mobile home parksâoften without building operations or tenant management.
Detailed Code Breakdown and Business Activities
Businesses categorized under NAICS 531190 are involved in leasing a unique set of real estate properties, including but not limited to:
- Agricultural property rental or leasing
- Airport leasing (excluding airport operations)
- Equity real estate investment trusts (REITs) primarily focused on leasing nonresidential real estate
- Farmland and forest land leasing
- Flea market space rentals (outdoor)
- Grazing land rental or leasing
- Land rental or leasing
- Manufactured (mobile) home parks and sites
- Mining property leasing
- Railroad right-of-way leasing
- Residential trailer parks and trailer courts
- Vacant lot leasing
- Vacation and recreation land leasing
Typical Business Types
- Lessors of vacant land
- Estate owners leasing manufactured home sites
- Operators leasing other nonresidential real estate properties without substantial tenant services
NAICS Code 531190 Size Standard
To qualify as a small business under NAICS 531190 for government contracting purposes, your business must have an annual revenue of $34 million or less. This size standard helps businesses determine eligibility for certain government programs and contracts.
NAICS 531190 Code Details Table
| Code Detail | Description |
|---|---|
| Agricultural property rental or leasing | Leasing property used for agricultural purposes |
| Airport leasing, not operating airport | Leasing airport property without managing airport functions |
| Equity real estate investment trusts (REITs) | REITs that primarily lease nonresidential real estate |
| Farmland rental or leasing | Leasing farmland for cultivation |
| Flea market space (except under roof) rental/leasing | Leasing outdoor flea market spaces |
| Forest land rental or leasing | Leasing forest or timber land |
| Grazing land rental or leasing | Leasing land for livestock grazing |
| Land rental or leasing | Leasing land for various purposes |
| Manufactured (mobile) home parks | Operating parks for manufactured or mobile homes |
| Manufactured (mobile) home sites rental or leasing | Leasing individual mobile home sites |
| Mining property leasing | Leasing land used for mining activities |
| Mobile (manufactured) home parks | Leasing and operating manufactured home parks |
| Mobile (manufactured) home sites rental or leasing | Leasing individual mobile home sites |
| Railroad right of way leasing | Leasing railroad corridor rights-of-way |
| Real estate (except building) rental or leasing | Leasing real estate excluding buildings |
| Residential trailer parks | Operating or leasing land for residential trailers |
| Trailer park or court, residential | Leasing or operating residential trailer courts |
| Vacant lot rental or leasing | Leasing empty or undeveloped lots |
| Vacation and recreation land rental or leasing | Leasing land for seasonal or recreational use |
Frequently Asked Questions (FAQs)
What types of properties are covered under NAICS 531190?
This code covers property types such as vacant land, manufactured home sites, agricultural land, mining properties, grazing and forest land, flea market spaces, trailer parks, and other nonresidential real estate commonly leased without additional tenant services.
Does this classification include leasing of residential buildings?
No. NAICS 531190 does not include leasing residential buildings or dwellings. Those are classified under different NAICS codes such as 531110 (Lessors of Residential Buildings and Dwellings).
What size standard applies for a small business under NAICS 531190?
The SBA size standard for small businesses in this category is $34 million in average annual receipts.
Can Equity REITs fall under this NAICS code?
Yes. Equity Real Estate Investment Trusts (REITs) primarily engaged in leasing nonresidential real estate properties, except for residential buildings, miniwarehouses, and storage units, are classified under this code.
Are services like maintenance included in this NAICS code?
No. Businesses under NAICS 531190 lease properties without providing substantial services to tenants.
Conclusion
Understanding NAICS code 531190 - Lessors of Other Real Estate Property is critical for businesses involved in leasing unique real estate assets. Whether you lease agricultural land, mobile home sites, or mining property, this classification helps position your business within the Real Estate and Rental and Leasing sector for government contracting opportunities.
By knowing the scope, typical business activities, size standards, and classification details under NAICS 531190, companies can better target contracts, comply with regulations, and seize growth opportunities in this specialized niche market.
Interested in government contracting? Explore how your business can leverage NAICS codes like 531190 to expand in federal, state, and local markets.
