53131 Real Estate Property Managers

Official definition

This industry comprises establishments primarily engaged in managing real property for others. Management includes ensuring that various activities associated with the overall operation of the property are performed, such as collecting rents and overseeing other services (e.g., maintenance, security, trash removal).

Source: US Census Bureau, 2022 NAICS descriptions.

When to use a different code

Census classifies these close-sounding activities somewhere else. Businesses mainly engaged in:

• Establishments primarily engaged in acting as lessors of real estate are classified in Industry Group 5311, Lessors of Real Estate.
• Establishments formed as associations on behalf of individual condominium owners or homeowners are classified in Industry 81399, Other Similar Organizations (except Business, Professional, Labor, and Political Organizations).
• Establishments primarily engaged in providing operating staff to perform a combination of services to support operations within a client's facilities are classified in Industry 56121, Facilities Support Services.
• Establishments primarily engaged in renting real estate on behalf of owners are classified in Industry 53121, Offices of Real Estate Agents and Brokers.
• Establishments primarily engaged in providing individual activities related to property management (e.g., maintenance, security, landscaping, etc.) are classified in the appropriate industry according to the service provided.
• Establishments primarily engaged in operating short-term lodging facilities, such as hotels, motels, casino hotels, and bed-and-breakfast inns are classified in Industry Group 7211, Traveler Accommodation.

Source: US Census Bureau, 2022 NAICS cross-references.

Codes in 53131

• 531311Residential Property Managers
• 531312Nonresidential Property Managers