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) that are used as residences. Included are establishments that may lease (rent) apartments and then act as lessors in subleasing to others.

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