Tools commonly used in the Lessors Of Real Property NEC industry for day-to-day tasks and operations.

• Property management software
• Accounting software
• Lease management software
• Online listing platforms
• Real estate valuation tools
• Tenant screening software
• Maintenance management software
• Marketing automation tools
• Customer relationship management (CRM) software
• Electronic signature software

Common products and services typical of NAICS Code 531190-03, illustrating the main business activities and contributions to the market.

• Self-storage facilities
• Parking garages
• Vacation rental properties
• Warehouses
• Office buildings
• Retail spaces
• Industrial parks
• Farmland
• Storage yards
• Medical office buildings

The specific certifications, permits, licenses, and regulatory compliance requirements within the United States for this industry.

• Real Estate License: A license required by all states to practice as a real estate agent or broker. It ensures that the licensee has completed the necessary education and passed the state's real estate exam. The requirements for obtaining a license vary by state. The National Association of Realtors provides more information on the requirements for each state:
• Fair Housing Certification: A certification that demonstrates a landlord's knowledge of fair housing laws and regulations. It is required by some states and localities for landlords who receive government funding or subsidies. The National Apartment Association provides a certification program:
• Lead-Based Paint Certification: A certification required by the Environmental Protection Agency (EPA) for landlords of properties built before 1978. It ensures that the landlord is aware of the dangers of lead-based paint and how to safely manage it. The EPA provides more information on the certification process:
• Property Management License: A license required by some states for property managers who manage properties for others. It ensures that the licensee has completed the necessary education and passed the state's property management exam. The requirements for obtaining a license vary by state. The National Association of Residential Property Managers provides more information on the requirements for each state:
• Zoning Compliance: Compliance with local zoning laws and regulations is required for all landlords. It ensures that the property is being used in accordance with local laws and regulations. The requirements for zoning compliance vary by locality. The International Code Council provides more information on zoning regulations:

A concise historical narrative of NAICS Code 531190-03 covering global milestones and recent developments within the United States.

• The "Lessors Of Real Property NEC" industry has a long history dating back to ancient times when landowners leased their land to farmers for cultivation. In the United States, the industry began to take shape in the late 19th century when the demand for commercial and residential properties increased. The industry saw significant growth in the 20th century, with the development of new technologies and the expansion of urban areas. In recent years, the industry has faced challenges due to economic downturns and changes in consumer behavior, but it has also seen growth due to the increasing demand for rental properties and the rise of the sharing economy.

The anticipated future trajectory of the NAICS 531190-03 industry in the USA, offering insights into potential trends, innovations, and challenges expected to shape its landscape.

• Growth Prediction: Stable

  The future outlook for the Lessors Of Real Property NEC industry in the USA is positive. The industry is expected to grow in the coming years due to the increasing demand for rental properties. The rise in population and urbanization has led to a surge in demand for rental properties, which is expected to continue in the future. Additionally, the low-interest-rate environment is expected to continue, which will make it easier for people to obtain mortgages and invest in rental properties. The industry is also expected to benefit from the increasing popularity of short-term rentals, such as Airbnb, which has created new opportunities for property owners to generate income. Overall, the Lessors Of Real Property NEC industry is expected to continue to grow in the coming years, driven by strong demand and favorable market conditions.

Recent groundbreaking advancements and milestones in the Lessors Of Real Property NEC industry, reflecting notable innovations that have reshaped its landscape.

• Smart Home Technology: Many property owners are now incorporating smart home technology into their rental properties, which allows tenants to control various aspects of their home, such as lighting, temperature, and security, through their smartphones or other devices.
• Virtual Tours: With the COVID-19 pandemic, many property owners have started offering virtual tours of their rental properties, which allows potential tenants to view the property without having to physically visit it.
• Online Rent Payments: Many property owners are now offering online rent payment options, which makes it easier for tenants to pay their rent and for property owners to manage their finances.
• Green Buildings: Many property owners are now incorporating green building practices into their rental properties, such as using energy-efficient appliances and materials, which can help reduce energy costs and attract environmentally conscious tenants.
• Co-Living Spaces: Co-living spaces are becoming increasingly popular, especially among younger renters. These spaces offer shared living spaces and amenities, such as kitchens and common areas, which can help reduce living costs and provide a sense of community.