NAICS Code 531210-07 - Rental Agencies

Marketing Level - NAICS 8-Digit

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NAICS CODE 531210-07
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Looking for more companies? See NAICS 531210 - Offices of Real Estate Agents and Brokers - 184,954 companies, 661,674 emails.

NAICS Code 531210-07 Description (8-Digit)

Rental agencies are businesses that specialize in renting out various types of equipment, vehicles, and properties to individuals and businesses. These agencies act as intermediaries between the owners of the rental properties and the renters, providing a range of services that include marketing, leasing, and managing the rental properties. Rental agencies can specialize in a variety of rental markets, such as residential, commercial, industrial, and automotive.

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 531210 page

Tools

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

  • Property management software
  • Online booking and reservation systems
  • Rental agreement templates
  • Credit check software
  • Marketing and advertising tools
  • Maintenance and repair tools
  • Inventory management software
  • Customer relationship management (CRM) software
  • Payment processing tools
  • Insurance and liability management tools

Industry Examples of Rental Agencies

Common products and services typical of NAICS Code 531210-07, illustrating the main business activities and contributions to the market.

  • Car rental agencies
  • Equipment rental agencies
  • Vacation rental agencies
  • Party rental agencies
  • Boat rental agencies
  • Furniture rental agencies
  • Audiovisual equipment rental agencies
  • Costume rental agencies
  • Tool rental agencies
  • Sports equipment rental agencies

History

A concise historical narrative of NAICS Code 531210-07 covering global milestones and recent developments within the United States.

  • The Rental Agencies industry has a long history dating back to the early 20th century when the first rental agencies were established in Europe. These agencies were primarily focused on renting out vacation homes and apartments to tourists. In the United States, the industry started to gain momentum in the 1950s when car rental agencies became popular. The industry continued to grow in the 1970s and 1980s when rental agencies started to offer a wider range of services, including equipment rental, party rental, and tool rental. In recent years, the industry has seen significant growth due to the rise of the sharing economy and the popularity of short-term rentals through platforms like Airbnb. In the United States, the Rental Agencies industry has experienced significant growth in recent years. According to a report by Statista, the revenue of the industry increased from $24.7 billion in 2010 to $44.6 billion in 2019. This growth can be attributed to several factors, including the rise of the sharing economy, the increasing popularity of short-term rentals, and the growing demand for rental services among millennials. The industry has also been impacted by technological advancements, with many rental agencies now offering online booking and reservation systems. Overall, the Rental Agencies industry has a rich history and continues to evolve in response to changing consumer needs and technological advancements.