NAICS Code 531110-01 - Apartment Rental Agencies

Marketing Level - NAICS 8-Digit

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NAICS Code 531110-01 Description (8-Digit)

Apartment Rental Agencies are companies that specialize in the leasing and management of residential properties, specifically apartments. These agencies act as intermediaries between landlords and tenants, providing a range of services to both parties. The primary goal of an apartment rental agency is to ensure that the properties they manage are occupied by reliable tenants who pay rent on time, while also ensuring that the landlords receive a steady stream of rental income.

Parent Code - Official US Census

Official 6‑digit NAICS codes serve as the parent classification used for government registrations and documentation. The marketing-level 8‑digit codes act as child extensions of these official classifications, providing refined segmentation for more precise targeting and detailed niche insights. Related industries are listed under the parent code, offering a broader context of the industry environment. For further details on the official classification for this industry, please visit the U.S. Census Bureau NAICS Code 531110 page

Tools

Tools commonly used in the Apartment Rental Agencies industry for day-to-day tasks and operations.

  • Property management software
  • Online listing platforms
  • Tenant screening tools
  • Lease agreement templates
  • Accounting software
  • Maintenance management software
  • Marketing tools (e.g. social media management, email marketing)
  • Customer relationship management (CRM) software
  • Electronic signature software
  • Virtual tour software

Industry Examples of Apartment Rental Agencies

Common products and services typical of NAICS Code 531110-01, illustrating the main business activities and contributions to the market.

  • Apartment complexes
  • Student housing
  • Low-income housing
  • Luxury apartments
  • Senior living communities
  • Co-living spaces
  • Corporate housing
  • Short-term rentals
  • Affordable housing
  • Mixed-use developments

History

A concise historical narrative of NAICS Code 531110-01 covering global milestones and recent developments within the United States.

  • The Apartment Rental Agencies industry has a long history dating back to the early 20th century when the first apartment buildings were constructed in the United States. In the 1920s, the industry experienced significant growth due to the increasing demand for affordable housing. During the 1950s and 1960s, the industry continued to expand as more people moved to urban areas. In the 1970s, the industry faced challenges due to the economic recession, but it recovered in the 1980s and 1990s with the growth of the service economy. In recent years, the industry has been impacted by the COVID-19 pandemic, which has led to a decline in demand for rental properties. The Apartment Rental Agencies industry in the United States has a more recent history, with significant growth occurring in the 1990s and early 2000s due to the strong economy and increasing demand for rental properties. The industry faced challenges during the 2008 financial crisis, but it recovered in the following years. In recent years, the industry has been impacted by the COVID-19 pandemic, which has led to a decline in demand for rental properties. Despite these challenges, the industry is expected to continue to grow in the coming years due to the increasing demand for affordable housing and the growing population in urban areas.