Say a Japanese citizen (living and working in Japan) owns a house in the US and rents it out (to a US resident) for \$10,000 in 2020. (Assume the value of the land is negligible.)
Where in the US BOP does this \$10,000 appear?
I initially thought this should appear under Primary Income (PI). But the BPM6 (p. 178) says
Rental is also used as a term for the amounts payable under operating leases for produced assets, and is a service. ...
In contrast, rent is used to describe amounts payable under a resource lease covering natural resources, such as land, water, or mineral rights. Rent arising from such resource leases is included in the primary income account
So where does the \$10,000 appear in the US BOP? Should it instead be an import (of services) under the Goods and Services Account?