NAICS Code for Property Management
NAICS Code for Property Management: 531311 vs. 531312
The NAICS code for property management depends on the type of property being managed and whether the company is primarily managing property for others rather than owning and leasing its own property. In most cases, the correct code is either 531311 – Residential Property Managers or 531312 – Nonresidential Property Managers.
A practical rule of thumb is simple: residential properties such as apartments, homes, condos, and co-ops usually point to 531311, while office buildings, retail centers, industrial properties, and other nonresidential assets usually point to 531312.
Residential fit
Managing apartments, homes, residential condos, co-ops, or similar housing for others.
NAICS 531311 →Commercial fit
Managing office, retail, industrial, or other nonresidential properties for others.
NAICS 531312 →Broader real estate context
See where property management sits inside the full NAICS real estate hierarchy.
Sector 53 – Real Estate and Rental and Leasing →Scope note: this page focuses on property managers whose primary activity is managing property for others. Ownership / lessor activity, insurance activity, and land development are commonly confused alternatives and should be compared separately when they are the dominant line of business.
Quick answer: most property management companies use either 531311 or 531312.
Simple decision rule: residential properties = 531311. Commercial / industrial / other nonresidential properties = 531312.
How to Choose the Correct NAICS Code for Property Management
Decision rule: use the code that matches the company’s primary management activity and the property type being managed.
For a broader framework on selecting a NAICS code by primary activity, see How Do I Find My NAICS Code?.
Primary NAICS Codes for Property Management Companies
NAICS 531311 – Residential Property Managers
Used when the firm primarily manages residential real estate for others.
- Apartment managers’ offices
- Residential condominium management
- Cooperative apartment management
- Vacation or resort property management when the primary asset base is residential
Code page: NAICS 531311
NAICS 531312 – Nonresidential Property Managers
Used when the firm primarily manages commercial, industrial, or other nonresidential real estate for others.
- Commercial property managers’ offices
- Office-building management
- Retail-center management
- Industrial property or commercial condominium management
Code page: NAICS 531312
Common Property Management Company Types
Commercial Property Management
Managing office buildings, retail centers, business parks, industrial facilities, and similar nonresidential assets for others.
Most common fit: 531312
Residential Property Management
Managing apartments, homes, residential condominiums, co-ops, HOA-like residential communities, or other housing-oriented assets for others.
Most common fit: 531311
Commonly Confused Related Codes
View related real estate and adjacent codes
| When you might see it | NAICS code | What it usually means |
|---|---|---|
| Owns real estate and leases it directly | 531190 | Lessors of other real estate property. Ownership / leasing is the primary activity rather than third-party property management. |
| Property and casualty insurance company | 524126 | Insurance carriers. Insurance is the primary operating activity, not property management. |
| Land development or subdivision work | 237210 | Land subdivision and development. This is construction / development activity, not property management. |
| Government property administration / support | 921190 | Government support activity rather than private-sector property management for others. |
Tip: if the company’s primary business model is managing property for someone else, start with 531311 or 531312. If it primarily owns and leases property, compare lessor categories first.
What Is Not Property Management?
Owning rental property is not automatically the same as property management. If the business primarily earns income by owning and leasing its own real estate, compare against lessor codes such as 531190 and related 5311 categories.
Development and subdivision work is also different. If the company is primarily engaged in land development, subdivision, or related construction-driven activity, compare against 237210 instead.
FAQ
- What is the NAICS code for property management?
Most property management companies use 531311 for residential management or 531312 for nonresidential management. - Is property management in NAICS Sector 53?
Yes. Property management sits within Sector 53 – Real Estate and Rental and Leasing. - What if a company manages both residential and commercial property?
Choose the code that best matches the company’s dominant line of work, usually based on the largest share of revenue or operational focus. - Is a landlord the same as a property management company?
Not necessarily. Landlords and lessors are typically classified under lessor categories when the primary activity is leasing their own property, while property managers are classified under 531311 or 531312 when managing for others.
Next Steps
Start by determining whether the business primarily manages residential or nonresidential property for others. Then confirm the fit using the linked code detail pages.
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