This U.S. Census Bureau NAICS-based industry comprises establishments primarily engaged in leasing (renting) apartment buildings (with 5 or more housing units per building), which are used as residences. These establishments may rent apartments and then act as lessors in subleasing to others. These establishments may provide additional services for their lessees such as security, maintenance, parking, snow removal, and trash removal.

Cross-References. Establishments primarily engaged in--

Leasing (renting) residential buildings and dwellings (with less than 5 housing units per building) other than apartment buildings--are classified in U.S. Census Bureau NAICS-based industry 5311109, Lessors of Dwellings Other than Apartment Buildings; and

Managing residential real estate, on a fee or contract basis--are classified in U.S. Industry 531311, Residential Property Managers.

For the 2007 Economic Census and the 2007 Survey of Business Owners, real estate investment trusts (REITS) are included in Industry Group 5311, Lessors of Real Estate, based on primary type of real estate property leased. However, for the 2002 Economic Census and the 2002 Survey of Business Owners, the equity REITs were classified in Subsector 525, Funds, Trusts, and Other Financial Vehicles.