AWAL RESIDENCE

Industry Classifications - NAICS

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Real Estate and Rental and Leasing

NAICS # 53 | The Sector as a Whole

The Real Estate and Rental and Leasing sector comprises establishments primarily engaged in renting, leasing, or otherwise allowing the use of tangible or intangible assets, and establishments providing related services. The major portion of this sector comprises establishments that rent, lease, or otherwise allow the use of their own assets by others. The assets may be tangible, as is the case of real estate and equipment, or intangible, as is the case with patents and trademarks.

This sector also includes establishments primarily engaged in managing real estate for others, selling, renting and/or buying real estate for others, and appraising real estate. These activities are closely related to this sector's main activity, and it was felt that from a production basis they would best be included here. In addition, a substantial proportion of property management is self-performed by lessors.

The main components of this sector are the real estate lessors industries; equipment lessors industries (including motor vehicles, computers, and consumer goods); and lessors of nonfinancial intangible assets (except copyrighted works).

Excluded from this sector are real estate investment trusts (REITS) and establishments primarily engaged in renting or leasing equipment with operators. REITS are classified in Subsector 525, Funds, Trusts, and Other Financial Vehicles, because they are considered investment vehicles. Establishments renting or leasing equipment with operators are classified in various subsectors of NAICS depending on the nature of the services provided (e.g., transportation, construction, agriculture). These activities are excluded from this sector because the client is paying for the expertise and knowledge of the equipment operator, in addition to the rental of the equipment. In many cases, such as the rental of heavy construction equipment, the operator is essential to operate the equipment.

Real Estate

NAICS # 531 | Industries in the Real Estate subsector group establishments that are primarily engaged in renting or leasing real estate to others; managing real estate for others; selling, buying, or renting real estate for others; and providing other real estate related services, such as appraisal services. Establishments primarily engaged in subdividing and developing unimproved real estate and constructing buildings for sale are classified in Subsector 236, Construction of Buildings.

Establishments primarily engaged in subdividing and improving raw land for subsequent sale to builders are classified in Subsector 237, Heavy and Civil Engineering Construction.

Real Estate Investment Trusts (REITS) are classified in Subsector 525, Funds, Trusts, and Other Financial Vehicles, because they are considered investment vehicles.

Limited-Service Restaurants

NAICS # 722211 | This U.S. industry comprises establishments primarily engaged in providing food services (except snack and nonalcoholic beverage bars) where patrons generally order or select items and pay before eating. Food and drink may be consumed on premises, taken out, or delivered to the customer's location. Some establishments in this industry may provide these food services in combination with selling alcoholic beverages. Preparing and serving meals for immediate consumption using cafeteria--style serving equipment, known as cafeterias--are classified in U.S. Industry 722212, Cafeterias; Providing food services to patrons who order and are served while seated and pay after eating--are classified in Industry 722110, Full-Service Restaurants; Selling a specialty snack (e.g., ice cream, frozen yogurt, candy, cookies) or nonalcoholic beverages, for consumption on or near the premises--are classified in U.S. Industry 722213, Snack and Nonalcoholic Beverage Bars; Retailing confectionery goods and nuts not packaged for immediate consumption--are classified in U.S. Industry 445292, Confectionery and Nut Stores; Retailing baked goods (e.g., pretzels, doughnuts, cookies, and bagels) not baked on the premises and not for immediate consumption--are classified in U.S. Industry 445291, Baked Goods Stores; Preparing and serving alcoholic beverages, known as bars, taverns, or nightclubs--are classified in Industry 722410, Drinking Places (Alcoholic Beverages); and Selling baked goods (e.g., doughnuts and bagels) and providing food services to patrons who order and are served while seated and pay after eating--are classified in Industry 722110, Full-Service Restaurants.

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