> For the complete documentation index, see [llms.txt](https://guides.gresb.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://guides.gresb.com/completingassessments/2026-real-estate-assessment/re/entity-and-reporting-characteristics/reporting-characteristics/rc5-nature-of-entitys-business.md).
# RC5: Nature of Entity's Business
Cover image
:bullseye: Maximum Score
Not scored
:input-pipe: Input Method
Assessment Portal
:pen-to-square: Prefill
:check:Eligible
:calculator: Scoring method
Not scored
:shield-check: Validation
None
:arrow-trend-up: 2026 Updates
None
***
**The entity's core business is:**
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## Assessment Instructions
Intent: What is the purpose of this indicator?
The entity’s primary business activities during the reporting year correspond to the Real Estate Assessment components that are most relevant to it.
Input: How do I complete this indicator?
Select the option applicable to the reporting entity.
**Note**: This indicator is used for reporting purposes only. Participants must select the component(s) they wish to complete within the 'Response Settings' page of the assessment portal. An entity's RC5 selection does not activate the associated component(s) in the portal.
*Click below for more information on the assessment components:*
Assessment Structure & Scope
#### Terminology
**Major Renovations**
> Alterations that affect more than 50 percent of the total building floor area or cause relocation of more than 50 percent of regular building occupants. Major renovation projects refer to buildings that were under construction at any time during the reporting year.
**New Construction**
> Includes all activities to obtain or change building or land use permissions and financing. Includes construction work for the project with the intention of enhancing the property’s value. Development of new buildings and additions to existing buildings that affect usable space can be treated as new constructions. New construction projects refer to buildings that were under construction at any time during the reporting year.
**Standing Investments**
> Real estate properties where construction work has been completed and which are owned for the purpose of leasing and producing rental income. The level of occupancy is not relevant for this definition. Also known as operating buildings.
Validation: What evidence is required?
No evidence required.
## Scoring
This indicator is not scored.
***
---
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