A rental activity is any activity where gross income is derived principally from amounts paid by customers for the use of tangible property. The industry includes establishments involved in renting and allowing the use of buildings and land for payments made principally.
The global rental activities market was valued at $2347 billion in 2017. Asia Pacific was the largest geographic region accounting for $1138.2 billion or 48.5% of the global market. China was the largest country accounting for $687.6 billion or 29.3% of the global rental activities market.
Real estate agents are increasingly using new technologies such as online listing, video and virtual reality (VR), to provide better services to clients and strengthen the buyer-agent relationship. With advancements in technology, the role of real estate agents is shifting from just an information arbitrator to a local market expert and service provider. Online real estate listing services such as Zillow and realtor.com provide housing database and information on tax and purchase history. Technologies such as video, VR tours and e-signing services also streamline the real estate transactions. For instance, in 2016 Sotheby’s International Realty, a luxury real estate franchisor, began hosting 3D home tours on its listing pages.
The companies covered are CBRE Group, Colliers International, RE/MAX, Marcus and Millichap, and HFF.
The countries covered are USA, China, Germany, Brazil, Japan, UK, Spain, Russia, France, Australia, Italy, India and rest of the world.
The rental activities market is segmented into Residential Buildings And Dwellings Rental Services; Non-Residential Buildings Rental Services; Miniwarehouses And Self-Storage Units Rental Services; and Other Rental Services.
Residential Buildings And Dwellings Rental Services comprises establishments primarily engaged in renting and leasing residential buildings and dwellings, such as apartments, single family homes and semi-detached or row houses. These establishments may operate (lease, administer and maintain) their properties on own account, or they may subcontract the operation to a third party, and they may provide additional services, such as security, maintenance, parking, and snow and trash removal.
Non-Residential Buildings Rental Services comprises establishments primarily engaged in acting as lessors of buildings (except miniwarehouses and self-storage units) that are not used as residences or dwellings. Included in this industry are: (1) owner-lessors of nonresidential buildings; (2) establishments renting real estate and then acting as lessors in subleasing it to others; and (3) establishments providing full service office space, whether on a lease or service contract basis. The establishments in this industry may manage the property themselves or have another establishment manage it for them.
Miniwarehouses And Self-Storage Units Rental Services comprises establishments primarily engaged in renting or leasing space for self-storage. These establishments provide secure space (i.e., rooms, compartments, lockers, containers, or outdoor space) where clients can store and retrieve their goods.
Other Rental Services comprises establishments primarily engaged in renting or leasing space for other real estate properties except Residential Buildings And Dwellings Brokers, Non-Residential Buildings Brokers and Miniwarehouses And Self-Storage Units Brokers.