Asset Living

What Asset Living does

Asset Living is a privately held, Houston-headquartered third-party property management firm founded in 1986 that manages over 455,000 residential units across more than 40 U.S. states on behalf of 500+ institutional owners and developers. The company operates a pure-play fee-for-service model with no ownership interest in the properties it manages, serving five distinct housing verticals: conventional multifamily, purpose-built student housing, affordable housing (LIHTC), active adult (55+), and build-to-rent single-family rentals. Revenue is generated through custom-priced multi-year management contracts, supplemented by asset management, receivership, and investment advisory services for the same client base.

The technology stack is built primarily through third-party AI vendor partnerships rather than proprietary development. Asset Living integrates EliseAI for portfolio-wide rent collection and occupancy automation (delivering 600 basis points improvement in on-time rent payments and 300 basis points occupancy uplift), LeaseHawk's ACE™ Virtual Leasing Assistant for autonomous voice/chat/text renter interactions across 39 communities, and BetterBot for multifamily lead automation across 86 communities. The company holds the Accredited Management Organization (AMO) designation through IREM and ranks as the No. 2 U.S. multifamily property manager on NMHC's Top 50 list (2024–2026) and the No. 1 third-party student housing manager for 15 consecutive years.

Go-to-market is sales-led and relationship-driven, with nine regional corporate offices (Houston HQ plus Atlanta, Denver, Dallas, Phoenix, Folsom, Bentonville, College Station, Omaha, Salt Lake City) providing localized client coverage. The company has scaled through a combination of organic new property wins and five acquisitions between 2020 and 2022 (Poetic io, Shelton Residential, Alpha-Barnes Real Estate Services, JMG Realty, and Echelon Property Group), supported by a 2018 investment from Trilantic North America. Leadership remains founder-led, with Ryan McGrath as CEO and President and Marcus Hagegard as CFO.

Name

Asset Living

Legal name

Asset Living

Website

https://assetliving.com

Company type

Private

Founded year

1986

Operating status

Operating

Headcount range

5,001–10,000 employees

Ownership category

akta.pro rank

Product category

Property Management Services

NAICS

Residential Property Managers (531311), Nonresidential Property Managers (531312)

SIC

Real Estate Agents & Managers (For Others) (6531), Services-To Dwellings & Other Buildings (7340)

akta.pro primary industry

Multifamily & Student Housing Asset Management (BPAJAMAD)

akta.pro secondary industries

Affordable & Public Housing Asset Management (BPAJAMAI), Healthcare & Senior Housing Real Estate Asset Management (BPAJAMAH)

Keywords

• Third-party property management
• Multifamily property management
• Student housing management
• Asset management services
• Build-to-rent management

Headquarters

HQ city

Houston

HQ country

United States

HQ region

North America

Offices10 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Property Management Services: Third-party property management services for multifamily, student housing, affordable, active adult, and build-to-rent communities. Revenue generated through management fees charged to property owners and institutional partners.
2. Asset Management: Asset management services for owners and institutional partners to optimize property performance and investment returns.
3. Receivership Services: Receivership services for distressed properties.
4. Investment Services: Investment services for owners and institutional partners.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels7 records

Core offering

Asset Living provides comprehensive third-party property management services for multifamily, student housing, affordable, active adult, and build-to-rent communities across 40+ U.S. states, managing over 455,000 units. The company delivers operations, marketing, financial planning, due diligence, training, human resources, data analytics, market research, underwriting, and capital improvement services to property owners and institutional investors under fee-based management contracts. Asset Living supplements its core services with asset management, receivership, and investment advisory services, while leveraging AI-powered automation partners for leasing and resident communications.

Product overview

Asset Living is a nationwide third-party property management company offering a comprehensive suite of services across multiple housing segments: multifamily, student housing, affordable housing, active adult, and build-to-rent communities. The company's service portfolio includes core property management operations supplemented by asset management, receivership, and investment services. Asset Living differentiates through technology-enabled solutions including ACE™ Virtual Leasing Assistant (AI-powered voice/chat/text leasing automation via LeaseHawk partnership) and BetterBot (multifamily automation for lead management and prospect communications). With over 455,000 units under management and recognition as the largest third-party student housing manager for 15 consecutive years, Asset Living operates as a platform providing operational excellence across diverse property types while leveraging AI automation partners to drive efficiency in leasing and resident services.

Differentiator

Problem solved

Functional benefit

Products and services

• Multifamily Property Management Comprehensive third-party property management services for multifamily residential communities nationwide, including operations, marketing, financial planning, due diligence, and resident services for property owners and institutional investors.
• Student Housing Property Management Specialized property management for purpose-built student housing communities near colleges and universities, with expertise in academic calendar lease-up optimization, achieving 95% portfolio occupancy in 2025 versus 91% industry average.
• Affordable Housing Property Management Property management services for affordable housing communities operating under LIHTC and other subsidy programs, with regulatory compliance, tax credit management, and program eligibility expertise for households at or below 80% of area median income.
• Active Adult Property Management Property management services targeting active adult communities, typically for residents aged 55 and older, with lifestyle-focused amenities, community engagement, and services tailored to active seniors.
• Build-to-Rent Property Management Property management for build-to-rent communities featuring single-family homes or townhomes with private yards and smart home features, supporting the single-family rental market with differentiation from traditional multifamily.
• Asset Management Strategic asset management services to optimize property performance, increase revenue, and maximize return on investment for property owners and institutional partners.
• Receivership Services Property receivership services providing operational oversight and stabilization for properties in transition or financial distress.
• Investment Services Investment advisory and support services for property owners and institutional partners seeking to maximize property value and investment returns.
• ACE Virtual Leasing Assistant AI-powered virtual leasing assistant powered by LeaseHawk that interacts with renters through voice, chat, and text to answer leasing and resident questions, collect guest card information, and schedule appointments. Deployed across 39 communities with 3,362 appointments set.
• BetterBot Multifamily Automation Multifamily automation platform providing AI-powered answers to prospective renters' questions, virtual tours, and appointment scheduling across property websites, search engines, and social media. Deployed across 86 communities managing 52,358 prospective renters and answering 89,530 questions.

Quantifiable outcome

• 600 basis points increase in on-time rent payments through AI automation
• +4 more outcomes

Named customers23 records

Segments6 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability6 records

Feature3 records

Partnerships

One partnership is on record.

• EliseAIcoreTechnology or Integration · 15 September 2025Asset Living partnered with EliseAI to implement AI automation across its portfolio. The partnership has delivered significant improvements including a 600 basis points increase in on-time rent payments and a 300 basis points rise in occupancy. EliseAI's technology handles tenant communications, rent collection optimization, and operational efficiency across the managed portfolio.

Scale indicators15 records

Recent moves6 records

Expansion highlights5 records

Emerging players

• RPM Living: PE-backed residential property manager that has grown rapidly through acquisitions, representing both direct competition for new mandates and a potential capital-backed rollout template analogous to Asset Living's M&A strategy.
• RangeWater Real Estate: Multifamily and build-to-rent manager actively consolidating regional portfolios, directly competing with Asset Living for institutional BTR and conventional multifamily mandates in the Sun Belt.

Direct peers

• FPI Management: National multifamily property management firm and direct competitor to Asset Living; the company's people flows (e.g., FPI alumni in Asset Living leadership) underscore the comparable talent pool and operating model.
• Lincoln Property Company: Top-five multifamily property manager with a national third-party platform; directly competes with Asset Living for institutional owner mandates across conventional multifamily and student housing.
• ZRS Management: Multifamily property management firm consistently ranked on the NMHC Top 50 Managers list with a comparable third-party management focus serving institutional owners.
• Greystar Real Estate Partners: The largest third-party multifamily property manager in the US and Asset Living's primary direct competitor on the NMHC Top 50 Managers list. Both operate institutional-grade third-party management platforms with national footprints and similar service menus.
• WinnResidential: Multifamily property management firm with a third-party model for institutional owners; competitor to Asset Living on conventional and affordable housing mandates with significant East Coast presence.
• Bozzuto: Multifamily property manager focused on upscale and luxury communities, competing for similar third-party management mandates and institutional owner relationships.
• BH Management Services: Large multifamily property manager consistently ranked on the NMHC Top 50, competing for third-party management mandates with comparable operating model and geographic breadth.

Broad incumbents

• Cushman & Wakefield: Global real estate services firm offering property management alongside brokerage, valuation, and advisory; competes with Asset Living for institutional mandates but as part of a much broader services portfolio rather than a pure management specialist.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Instagraminstagram.com/assetliving
• Xx.com/asset_living

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries14 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A5 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Asset Living