NAICS Code 532 - Rental and Leasing Services
Industry SectorReal Estate and Rental and Leasing
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Industries in the Rental and Leasing Services subsector include establishments that provide a wide array of tangible goods, such as automobiles, computers, consumer goods, and industrial machinery and equipment, to customers in return for a periodic rental or lease payment. The subsector includes two main types of establishments: (1) those that are engaged in renting consumer goods and equipment and (2) those that are engaged in leasing machinery and equipment often used for business operations. The first type typically operates from a retail-like or store-front facility and maintains inventories of goods that are rented for short periods of time. The latter type typically does not operate from retail-like locations or maintain inventories, and offers longer term leases. These establishments work directly with clients to enable them to acquire the use of equipment on a lease basis, or they work with equipment vendors or dealers to support the marketing of equipment to their customers under lease arrangements. Equipment lessors generally structure lease contracts to meet the specialized needs of their clients and use their remarketing expertise to find other users for previously leased equipment. Establishments that provide operating and capital (i.e., finance) leases are included in this subsector. Establishments primarily engaged in leasing in combination with providing loans are classified in NAICS Code - 52 Finance and Insurance. Establishments primarily engaged in leasing real property are classified in NAICS Code - 531 various subsectors of NAICS depending on the nature of the services provided (e.g., Transportation, Construction, Agriculture). These activities are excluded from this subsector since the client is paying for the expertise and knowledge of the equipment operator, in addition to the rental of the equipment. In many cases, such as the rental of heavy construction equipment, the operator is essential to operate the equipment. Likewise, since the provision of crop harvesting services includes both the equipment and operator, it is included in the agriculture subsector. The rental or leasing of copyrighted works is classified in NAICS Code - 51 Information, and the rental or leasing of assets, such as patents, trademarks, and/or licensing agreements is classified in NAICS Code - 533 Lessors of Nonfinancial Intangible Assets (except Copyrighted Works).
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Questions & Answers
How many active businesses operate in NAICS Code 532?
There are 62,296 verified business locations operating primarily in this industry.
What was the total revenue for NAICS Code 532?
In 2017 the total revenue for Rental and Leasing Services was $156,636,657,000
What was the annual payroll for NAICS Code 532?
In 2017 the annual payroll for Rental and Leasing Services was $24,910,193,000
How many people work in NAICS Code 532?
The number of reported paid employees is 521,404.