NAICS Code 531110-10 - Apartments-Short Term

Marketing Level - NAICS 8-Digit

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Looking for more companies? See NAICS 531110 - Lessors of Residential Buildings and Dwellings - 49,565 companies, 54,491 emails.

NAICS Code 531110-10 Description (8-Digit)

The Apartments-Short Term industry involves the leasing of fully furnished apartments for a short period of time, typically less than 30 days. These apartments are often rented by individuals or corporations who require temporary housing for business or personal reasons. The apartments are equipped with all necessary amenities such as furniture, appliances, and utilities, and are ready for immediate occupancy. This industry is highly competitive and requires a strong focus on customer service to ensure repeat business.

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 Apartments-Short Term industry for day-to-day tasks and operations.

  • Property management software
  • Online booking platforms
  • Cleaning supplies and equipment
  • Maintenance tools and equipment
  • Furniture and decor
  • Linens and bedding
  • Kitchen appliances and utensils
  • Internet and cable services
  • Security systems
  • Marketing materials and strategies

Industry Examples of Apartments-Short Term

Common products and services typical of NAICS Code 531110-10, illustrating the main business activities and contributions to the market.

  • Corporate housing
  • Extended stay apartments
  • Vacation rentals
  • Short-term rentals
  • Temporary housing
  • Serviced apartments
  • Executive suites
  • Furnished apartments
  • Transitional housing
  • Relocation housing

History

A concise historical narrative of NAICS Code 531110-10 covering global milestones and recent developments within the United States.

  • The "Apartments-Short Term" industry has a long history dating back to the early 1900s when the first apartment hotels were established in the United States. These hotels were designed to provide temporary accommodation for travelers and were equipped with amenities such as kitchens and living rooms. In the 1920s, the industry saw significant growth due to the rise of tourism and the increasing popularity of short-term rentals. During the 1950s and 1960s, the industry experienced a decline due to the rise of motels and other forms of accommodation. However, in recent years, the industry has seen a resurgence due to the growth of the sharing economy and the popularity of platforms such as Airbnb and HomeAway. In the United States, the "Apartments-Short Term" industry has experienced significant growth in recent years. According to a report by Statista, the revenue of the short-term rental market in the United States is expected to reach $18.6 billion in 2021. This growth can be attributed to several factors, including the increasing popularity of short-term rentals among travelers, the rise of the sharing economy, and the growth of online platforms that make it easier for property owners to rent out their homes. Despite the challenges posed by the COVID-19 pandemic, the industry has remained resilient, with many travelers opting for short-term rentals as a safer and more flexible alternative to traditional hotels.