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

• Art inventory management software
• Art hanging systems
• Art transport equipment (e.g. dollies, carts, packing materials)
• Art cleaning supplies (e.g. microfiber cloths, cleaning solutions)
• Art lighting equipment (e.g. track lighting, spotlights)
• Art appraisal software
• Art insurance policies
• Art cataloging software
• Art framing equipment (e.g. mat cutters, framing guns)
• Art rental agreements

Common products and services typical of NAICS Code 712110-08, illustrating the main business activities and contributions to the market.

• Corporate art rentals
• Event art rentals
• Home art rentals
• Film and television art rentals
• Interior design art rentals
• Wedding art rentals
• Gallery art rentals
• Museum art rentals
• Trade show art rentals
• Theater art rentals

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

• Art Rental License: An Art Rental License is required for businesses that rent out art in the US. This license is issued by the state government and ensures that the business is operating legally and ethically. The requirements for this license vary by state.
• Sales Tax Permit: Art rental businesses are required to collect sales tax on the rental fees they charge. A Sales Tax Permit is required to collect sales tax in the US. This permit is issued by the state government and the requirements vary by state.
• Business License: A Business License is required for all businesses operating in the US. This license is issued by the state government and ensures that the business is operating legally and ethically. The requirements for this license vary by state.
• Copyright Registration: Art rental businesses must ensure that they have the legal right to rent out the artwork they offer. Copyright registration is a way to protect the artwork from unauthorized use. This registration is issued by the US Copyright Office.
• Fair Housing Act Compliance: Art rental businesses must comply with the Fair Housing Act, which prohibits discrimination in the rental of housing based on race, color, national origin, religion, sex, familial status, or disability. Compliance with this act is overseen by the US Department of Housing and Urban Development.

A concise historical narrative of NAICS Code 712110-08 covering global milestones and recent developments within the United States.

• The art rental industry has been around for centuries, with wealthy patrons renting artwork from artists during the Renaissance period. However, the modern art rental industry began in the 1960s when galleries started renting out artwork to businesses and individuals. In the 1980s, the industry saw a significant increase in demand due to the rise of corporate art collections. The industry continued to grow in the 1990s with the advent of online art rental platforms, making it easier for individuals to rent artwork. In recent years, the industry has seen a shift towards more sustainable and eco-friendly practices, with some companies offering rental services for environmentally conscious artwork. In the United States, the art rental industry has seen steady growth in recent years. The rise of online art rental platforms has made it easier for individuals to access artwork, and the industry has seen increased demand from millennials who are looking for affordable ways to decorate their homes. In addition, the industry has seen a shift towards more diverse and inclusive artwork, with many companies offering rental services for artwork created by underrepresented artists. Overall, the art rental industry in the United States is a dynamic and growing industry that is constantly evolving to meet the needs of its customers.

The anticipated future trajectory of the NAICS 712110-08 industry in the USA, offering insights into potential trends, innovations, and challenges expected to shape its landscape.

• Growth Prediction: Stable

  The art rental industry in the USA is expected to grow in the coming years due to the increasing demand for art pieces in commercial and residential spaces. The industry is also expected to benefit from the growing trend of art as an investment. With the rise of online art marketplaces, art rental companies are expected to expand their reach and offer more diverse collections to their customers. Additionally, the industry is expected to benefit from the growing interest in sustainable and eco-friendly practices, which could lead to the adoption of more environmentally friendly materials and practices in the production and rental of art pieces.

Recent groundbreaking advancements and milestones in the Art Rental industry, reflecting notable innovations that have reshaped its landscape.

• Art rental companies are increasingly using technology to offer virtual art consultations and allow customers to visualize art pieces in their spaces before renting them.
• Some art rental companies are partnering with artists to offer exclusive collections and support emerging artists.
• The use of AI and machine learning is being explored to personalize art recommendations for customers based on their preferences and past rentals.
• Art rental companies are adopting sustainable practices such as using eco-friendly materials and reducing waste in the production and rental of art pieces.
• Some art rental companies are offering art subscription services, allowing customers to regularly rotate their art pieces and keep their spaces fresh and updated.