LRS Realty & Management

What LRS Realty & Management does

LRS Realty & Management, Inc. is a privately held, family-owned full-service property management and real estate firm founded in 1988 by Gail and Alec Bernstein as Landlords Rental Service, headquartered in Chatsworth, California. The company manages single-family homes, condominiums, multifamily apartments, and commercial office and retail properties on behalf of individual homeowners, family portfolios, non-profits, and institutional investors across seven Southern California counties (Los Angeles, Orange, San Diego, Kern, San Bernardino, Riverside, and Ventura), supported by five regional offices.

The firm's service portfolio is organized around six integrated lines: single-family/condo management, multifamily/apartment management, commercial office and retail management, in-house maintenance and renovations performed by a licensed California General Contractor, brokerage sales and acquisition services (including 1031 exchange support), and standalone lease-up services. Day-to-day operations run on AppFolio's property management platform, which provides mobile-friendly owner and tenant portals for financial reporting, digital rent collection, tenant screening (credit, background, eviction, employment, income), and maintenance request submission. LRS is licensed by the California Department of Real Estate (DRE License #01820556) and as a General Contractor with the California State Licensing Board, allowing it to internalize maintenance and brokerage work that competitors typically outsource.

Revenue is generated through recurring management fees (typically a percentage of rental income or fixed monthly fees on managed properties), transaction-based application fees ($42 per adult applicant), transactional brokerage commissions on sales and acquisitions, and fees for lease-up, maintenance, and renovation services. Pricing is quote-based and not publicly disclosed. Distribution relies on direct sales through regional offices, a website-driven quote request flow, organic search, listings on third-party rental platforms, and Google review-driven referrals. The company employs 101-250 people, has no external institutional ownership, no disclosed funding, and has grown organically over 35+ years through service extension and geographic expansion rather than M&A.

Name

LRS Realty & Management

Legal name

LRS Realty & Management, Inc.

Website

https://lrspropertymanagement.com

Company type

Private

Founded year

1988

Operating status

Operating

Headcount range

101–250 employees

Short description

LRS Realty & Management is a family-owned, full-service property management and real estate firm founded in 1988, managing residential and commercial properties for individual owners, family portfolios, non-profits, and institutional investors across seven Southern California counties via five regional offices and an in-house licensed General Contractor.

Ownership category

akta.pro rank

Product category

Property Management Services

NAICS

Real Estate Property Managers (53131), Residential Property Managers (531311), Offices of Real Estate Agents and Brokers (5312)

SIC

Real Estate Agents & Managers (For Others) (6531), General Bldg Contractors - Residential Bldgs (1520)

akta.pro primary industry

Single-Family Rental (SFR) Property Management (BPAJAFAB)

akta.pro secondary industries

Residential Investment Property Brokerage (SFR/Small Multifamily) (BPAJAAAE), Tenant Representation & Corporate Services Brokerage (BPAJABAJ)

Keywords

• Property management services
• Residential rentals
• Commercial property management
• Real estate brokerage
• Tenant placement

Headquarters

HQ city

Chatsworth

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Property Management Fees: Ongoing property management services for single-family homes, multifamily apartments, and commercial properties. Services include tenant acquisition, screening, rent collection, maintenance, legal compliance, and financial reporting. Revenue is generated through management fees typically charged as a percentage of rental income or fixed monthly fees.
2. Lease-Up Services: Specialized leasing services for property owners who prefer to manage independently but need professional tenant placement support. Includes comprehensive tenant screening, marketing, property showings by DRE licensed agents, and market analysis.
3. Brokerage Sales & Acquisition: Real estate sales and acquisition services including Comparative Market Analysis, 3D virtual tours, professional video walkthroughs, buyer representation, and 1031 exchange support.
4. Maintenance & Renovation Services: In-house maintenance department providing repairs, renovations, and project management for property repositioning. Services include routine inspections, retrofits, and complete property transformations.
5. Application Fees: Application screening fees charged to rental applicants ($42 per applicant 18+).

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

LRS Realty & Management provides full-service property management for single-family homes, condos, multifamily apartments, and commercial office and retail properties across Southern California. The firm offers leasing, in-house maintenance and renovations, brokerage sales and acquisitions, and vacancy lease-up services, serving property owners as its primary clients via direct contractual relationships.

Product overview

LRS Realty & Management is a full-service property management company operating since 1988, serving Southern California across Los Angeles, Orange, San Diego, Kern, San Bernardino, and Riverside counties. The company offers an integrated portfolio of six core services: Single-Family Home & Condo Management, Multifamily & Apartment Management, Commercial Office & Retail Management, In-House Maintenance & Renovations (provided by their licensed general contractor), Brokerage Sales & Acquisition Services, and Vacancy Lease-Up Services. These services are supported by AppFolio-based online Owner and Tenant Portals that provide mobile-friendly access to financial reporting, rent collection, maintenance requests, and document management. The integrated structure—combining property supervisors, in-house maintenance teams, leasing agents, and administrative staff under one organization—differentiates their approach from fragmented property management.

Differentiator

Problem solved

Functional benefit

Products and services

• Single-Family Home & Condo Management

Quantifiable outcome

• Short vacancy periods - owner reports 'never have vacancies more than a few weeks and often even less than that'

Named customers6 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

Feature5 records

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Greystar Real Estate Partners: Largest US residential property manager (~80B AUM) with full-service multifamily and SFR operations. Directly comparable as a scaled full-service PM with in-house maintenance and brokerage-adjacent services, although LRS operates at a much smaller regional scale.
• FirstService Residential: Large national residential PM with strong SoCal presence, including HOA and rental services. Comparable for residential management scope and customer overlap (homeowners, family portfolios, institutional investors).
• JLL (Jones Lang LaSalle): Global real estate services firm with property and facilities management. Comparable for commercial management/institutional investor segment that LRS's commercial office arm serves.
• Cushman & Wakefield: Global CRE services firm with a US residential PM arm serving institutional owners. Comparable for commercial management and brokerage capabilities, especially for LRS's commercial office and retail vertical.
• Lincoln Property Company: Top-3 US residential PM with multifamily and SFR exposure plus in-house construction/maintenance. Comparable as a vertically integrated residential manager with similar service breadth; LRS operates the same playbook at regional scale.

Direct peers

• Lyon Property Management: Southern California-based full-service residential PM serving SFR and small multifamily owners. Closest regional head-to-head competitor with the same single-family home and condominium focus.
• Real Property Management (RPM): National franchise network providing full-service SFR and multifamily PM, lease-up, and maintenance. Competes directly with LRS for individual investors and small-portfolio owners with comparable service menus.
• Property Management Inc. (PMI): Franchise-based residential and multifamily PM serving individual owners and small landlords. Comparable service mix (management, leasing, maintenance) targeting the same SMB-owner segment LRS serves.

Emerging players

• HomeRiver Group: National consolidator focused on single-family and small multifamily rental management with in-house maintenance. Closest peer to LRS's SFR-focused integrated model and is acquiring regional operators like LRS at scale.
• Compass: National brokerage expanding into PM and adjacent services for homeowner-investors. Comparable through its brokerage arm competing with LRS's acquisition/1031 exchange service for investor clients.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights5 records

Customer concentration

• Xx.com/lrsmanagement

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about LRS Realty & Management