Management of real estate on a fee or contract basis

NACE v2.0 Code: L68.32

About management of real estate on a fee or contract basis

NACE code 68.32, 'Management of real estate on a fee or contract basis', encompasses the activities of managing, on a fee or contract basis, real estate owned by others. This industry plays a crucial role in the broader real estate sector, providing essential services that facilitate the efficient operation and utilization of properties. By managing properties on behalf of owners, this industry contributes to the smooth functioning of the real estate market and supports economic growth across various sectors.

Production process

The key activities within the real estate management industry include property management, lease negotiation, rent collection, maintenance coordination, and tenant relations. Property managers work closely with owners to ensure the properties under their care are well-maintained, occupied, and generating the desired returns. They leverage their expertise in market analysis, budgeting, and regulatory compliance to optimize the performance of the properties they manage.

Production inputs

The primary inputs required for the real estate management industry include skilled personnel, such as property managers, leasing agents, and maintenance staff. Additionally, the industry relies on various software and technological tools to streamline operations, manage tenant information, and facilitate efficient property management. Access to market data and industry-specific knowledge are also crucial inputs that enable property managers to make informed decisions and provide valuable services to their clients.

Production outputs

The primary output of the real estate management industry is the effective management of properties on behalf of owners. This includes securing reliable tenants, collecting rent, coordinating maintenance and repairs, and ensuring compliance with relevant regulations. The services provided by this industry ultimately contribute to the overall performance and value of the managed properties, which can then be utilized by a wide range of other NACE codes, such as 68.10 Real estate activities with own or leased property, 68.20 Renting and operating of own or leased real estate, and 68.31 Real estate agencies.

Revisions to 68.32

Classification codes are adjusted frequently. The code may have been revised or replaced between system versions. The table below shows the history (newest to oldest) of the code 68.32. The most recent 2 versions of this code (68.32) is in the NACE v2.1 system:

This page shows a legacy version of code 68.32 ( NACE v2.0).

Newer versions

Related ISIC Codes

These isic codes are related to this econ code: (68.32).

ISIC code ISIC Version ISIC title
6820ISIC v4.0Real estate activities on a fee or contract basis

Related CPC Codes

These CPC codes are related to this econ code: (68.32).

CPC code CPC Version CPC title
72211CPC v2.1Residential property management services on a fee or contract basis except of time-share ownership properties
72212CPC v2.1Non-residential property management services on a fee or contract basis
72213CPC v2.1Time-share property management services on a fee or contract basis
72221CPC v2.1Residential building sales on a fee or contract basis, except of time-share ownership properties
72222CPC v2.1Non-residential building sales on a fee or contract basis
72223CPC v2.1Sale of time-share properties on a fee or contract basis
72230CPC v2.1Land sales on a fee or contract basis
72240CPC v2.1Real estate appraisal services on a fee or contract basis

Family tree for management of real estate on a fee or contract basis

    graph LR
    A["<a href='/classifications/nace/v2/L'>L: REAL ESTATE ACTIVITIES</a>"]
A --> B["<a href='/classifications/nace/v2/L/68'>68: Real estate activities</a>"]
B --> C["<a href='/classifications/nace/v2/L/68/3'>68.3: Real estate activities on a fee or contract basis</a>"]
C --> D["<a href='/classifications/nace/v2/L/68/32'>68.32: Management of real estate on a fee or contract basis</a>"]

    C --> E["<a href='/classifications/nace/v2/L/68/31'>68.31: Real estate agencies</a>"]

    

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