In This Article:
- ⚓ What Is a NAICS Code?
- ⚓ NAICS Code for Property Management Canada
- ⚓ Why It Matters for Landlords
- ⚓ Where You’ll Use the Code
- ⚓ Common Mistakes to Avoid
- ⚓ Final Thoughts
What Is a NAICS Code?
If you run a property management business in Canada, you’ve probably heard about NAICS codes. The NAICS code for property management Canada helps classify your business so the government knows what kind of work you do. NAICS stands for North American Industry Classification System. It’s used by the Canada Revenue Agency (CRA), Statistics Canada, and other institutions to organize businesses into categories. When you register your business, file taxes, or apply for insurance, you’ll need to include this code.NAICS Code for Property Management Canada (531311)
The right NAICS code for most landlords and residential property managers is:531311 – Residential Property ManagersThis code applies to businesses that handle:
- Rent collection
- Tenant screening
- Property maintenance
- Lease paperwork
- Day-to-day rental operations
- 531312 – For commercial (nonresidential) property management
- 531390 – For leasing, relocation, or other real estate services
Why It Matters for Landlords
Using the right NAICS code makes your life easier. It helps the CRA understand your business. It also affects things like:- ✅ How you're taxed
- ✅ What deductions you're allowed
- ✅ What insurance plans you can qualify for
- ✅ Your eligibility for grants or loans
Where You’ll Use the Code
You’ll be asked for your NAICS code when you:- Register a new business
- Apply for a GST or HST number
- File corporate taxes
- Buy business insurance
- Apply for funding or government programs
Common Mistakes to Avoid
Here’s what not to do:- ❌ Don’t use 531210 (that’s for real estate agents)
- ❌ Don’t leave it blank when filling out forms
- ❌ Don’t use old versions — the most recent update is from 2022
