Analysis
NAICS 531312 is the 2022 national industry for nonresidential property managers, part of 53131 (Real Estate Property Managers). Census lists 14 example activities under it in the official index.
County Business Patterns counts 18,068 US establishments in this code in 2023, employing 170,788 people at an average annual payroll of $89,718 per employee (77th percentile of national industries). 66% of the establishments have fewer than five employees, which marks it as a small-business industry.
By establishments it ranks 2nd of the 2 codes at this level within Real Estate Property Managers, with 22.9% of them.
Census lists 7 related activities that belong elsewhere, most often in 531311, 531120, 531130 and 813990. Businesses that do several things are classified by their primary activity, the one that generates the most value, so check those boundaries before settling on this code.
Its index entries, the activities Census uses to assign businesses to this code, include commercial property managing, commercial real estate property managers' offices, condominium managers' offices, commercial and managers' offices, commercial condominium, among 14 in all.
For example, managing residential real estate for others are classified in 531311 (Residential Property Managers) instead.
Official definition
This U.S. industry comprises establishments primarily engaged in managing nonresidential real estate for others.
Source: US Census Bureau, NAICS 2022 Manual.
Not this code if…
| The business mainly does | Use instead |
|---|---|
| Managing residential real estate for others | 531311 Residential Property Managers |
| Acting as lessors of buildings (except miniwarehouses and self-storage units) that are not used as residences or dwellings | 531120 Lessors of Nonresidential Buildings (except Miniwarehouses) |
| Renting or leasing space for self-storage | 531130 Lessors of Miniwarehouses and Self-Storage Units |
| Establishments formed as associations on behalf of individual nonresidential condominium owners | 813990 Other Similar Organizations (except Business, Professional, Labor, and Political Organizations) |
| Providing operating staff to perform a combination of services to support operations within a client's facilities | 561210 Facilities Support Services |
| Renting real estate on behalf of owners | 531210 Offices of Real Estate Agents and Brokers |
| Operating short-term lodging facilities, such as hotels, motels, casino hotels, and bed-and-breakfast inns | 7211 Traveler Accommodation |
Index entries (14)
- Commercial property managing
- Commercial real estate property managers' offices
- Condominium managers' offices, commercial
- Managers' offices, commercial condominium
- Managers' offices, commercial real estate
- Managers' offices, nonresidential real estate
- Managing commercial condominiums
- Managing commercial real estate
- Nonresidential property managing
- Property managers' offices, commercial real estate
- Property managers' offices, nonresidential real estate
- Property managing, commercial real estate
- Property managing, nonresidential real estate
- Real estate property managers' offices, commercial