SIC stands for Standard Industrial Classification, which is a coding system that identifies a particular industry or sector. The government uses the Real Estate SIC Code system to classify and categorise different types of businesses in the real estate industry. Real estate development, property leasing, management, and other associated industries are all covered under the Real Estate Industry Code system. Scroll down to get the SIC code for rental property.
Explore Different Owner Plans and Let NoBroker Seal the Deal for You!What is the SIC code for rental property?
The renting and managing of owned or leased real estate is under SIC code 68209. In other words, this is the important code for renting out real estate. So, this will be the SIC code for your firm if you are purchasing a property to hold as an investment (single BTLs or HMOs) or if you are adopting the rent-to-rent method. There are a few more important SIC codes for real estate property, as follows:
Real estate purchases and sales are classified under SIC code 68100. This SIC code is perfect if you want to buy property to resell.
SIC 6531 is for real estate and managers.
SIC 6519 is for lessors of real estate property.
Establishments classified under SIC code 6552 are largely involved in partitioning real property into plots, with the exception of cemetery lots, and expanding it for their own account.
Other letting and operating of owned or leased real estate are under SIC code 68209. This is a suitable SIC code if you are purchasing properties with the intention of renting them out.
The Real Estate SIC Code is a helpful system that benefits both the real estate industry and the government. By understanding the system and the codes, you can improve the marketing of your business and identify the competition.
Rent or buy your dream house without any brokerage fees at NoBroker. Read More -What is the difference between a notarized agreement and a registered agreement in a house rental deal?
What will give me higher returns – rental income from commercial or residential property?
Where to advertise my rental property?
How can an NRI make a rental agreement?
What is the SIC Code for Rental Property?
Ronit
776 Views
1
2 Year
2023-05-26T18:07:57+00:00 2023-05-27T07:53:41+00:00Comment
Share