Heritage Property Management

What Heritage Property Management does

Heritage Property Management, operating as Heritage Property Management-AV, Inc., is a privately held residential property management firm founded in 1985 and headquartered at 220 E Market St in Iowa City, Iowa. The firm manages a portfolio of single-family homes, condos, duplexes, and student housing across five communities in the Iowa City metropolitan statistical area: Iowa City, Coralville, North Liberty, Tiffin, and West Branch. It also provides management services to eight to nine homeowners associations and maintains a dedicated University of Iowa housing vertical serving faculty, staff, and graduate students.

The company's operating stack is built on AppFolio Property Manager, which powers tenant screening, lease management, rent collection via ACH and credit card, maintenance request tracking, and owner financial reporting. Tenants and owners access these capabilities through dedicated online portals plus native iOS and Android mobile applications. The firm supplements this digital layer with a contracted network of local maintenance professionals providing 24/7 emergency response across the portfolio.

Heritage generates revenue primarily through percentage-based or flat management fees charged to property owners for full-service management, augmented by ancillary fee streams including a $30 per-adult rental application fee, security deposits typically equal to one month's rent, and $30/month non-refundable pet rent. The go-to-market motion is sales-led and referral-driven for property owners, layered with a self-serve online portal and property search experience for prospective tenants. Customer segments span individual tenants, individual and small institutional property owners, the University of Iowa community, and HOA boards. The firm employs approximately five full-time staff plus several part-time personnel and is locally owned with no disclosed external investment.

Name

Heritage Property Management

Legal name

Heritage Property Management-AV, Inc.

Website

https://hpmic.com

Company type

Private

Founded year

1985

Operating status

Operating

Headcount range

1–10 employees

Short description

Heritage Property Management is a privately held, locally owned residential property management firm founded in 1985 in Iowa City, Iowa. It manages single-family homes, condos, duplexes, student housing, and HOA associations across the Iowa City metropolitan area using the AppFolio platform.

Ownership category

akta.pro rank

Product category

Residential Property Management

NAICS

Residential Property Managers (531311), Real Estate Property Managers (53131)

SIC

Real Estate Agents & Managers (For Others) (6531), Operators Of Apartment Buildings (6513)

akta.pro primary industry

Multifamily Apartment Property Management (BPAJAFAA)

akta.pro secondary industry

HOA / Condominium Association Management (BPAJAFAH)

Keywords

• Residential property management
• Rental property services
• HOA management services
• Tenant screening leasing
• Single family rentals

Headquarters

HQ city

Iowa City

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Property Management Fees: Charges property owners for full-service management including leasing, maintenance, accounting, and reporting. Revenue derived from ongoing management fees as a percentage of rental income or flat fee structure.
2. Rental Income Collection: Collects monthly rent from tenants on behalf of property owners, processing payments through the AppFolio platform via ACH/credit card

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

Heritage Property Management provides full-service residential property management for single-family homes, condos, duplexes, and student housing across the Iowa City metropolitan area (Iowa City, Coralville, North Liberty, Tiffin, and West Branch). Services include tenant screening, lease preparation, rent collection, 24/7 maintenance coordination, financial reporting to owners, and complementary HOA management for community associations. Operations are powered by the AppFolio Property Manager platform, which delivers 24/7 online tenant and owner portals plus native mobile apps for rent payment, maintenance requests, and document access.

Differentiator

Problem solved

Functional benefit

Products and services

• Heritage Residential Property Management Full-service residential property management covering single-family homes, condos, duplexes, and student housing across Iowa City, Coralville, North Liberty, Tiffin, and West Branch. Includes tenant screening, lease preparation, rent collection, property maintenance, 24/7 emergency response, and owner financial reporting.
• Tenant Portal

Quantifiable outcome

• Phone open 24/7 for emergency maintenance response
• +1 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered core and major.

• AppFoliocoreTechnology or IntegrationAppFolio Property Manager is the core technology platform powering Heritage's property management operations including tenant screening, lease management, rent collection, maintenance tracking, and owner reporting. Both tenant and owner portals are built on AppFolio technology.
• Genesis Development GroupmajorStrategic or Co-development PartnerGenesis Development Group developed the Pinnacle Square residential community in West Branch, Iowa. Heritage Property Management manages the rental units at Pinnacle Square, including properties at 327 Sycamore Drive and 328 Hickory Drive.
• Local Maintenance ContractorscoreOthersContracts with local maintenance professionals ready to respond to emergencies round-the-clock. These contractors provide 24/7 emergency maintenance and repairs for all Heritage properties.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• RealPage: RealPage provides property management software and adjacent services for residential and multifamily operators. It is comparable because it serves the same residential property management workflow that Heritage operates, though RealPage targets larger portfolios and enterprise operators.
• Greystar: Greystar is the largest multifamily property manager in the U.S., operating apartment communities at national scale. It is comparable because it competes in residential rental property management, though it serves institutional owners and large portfolios rather than Heritage's small local landlord base.
• Yardi: Yardi is one of the largest property management software vendors serving residential, multifamily, and commercial operators. It is comparable because it competes with AppFolio and Buildium for the property management software stack that Heritage relies on, though at a much broader portfolio scale.
• FirstService Residential: FirstService Residential is one of the largest residential and HOA management companies in North America. It is comparable because it competes directly for HOA management contracts that Heritage services, though at a much larger national scale.
• Associa: Associa is a large national HOA and community association management company. It is comparable because it competes directly with Heritage's HOA management line of business for community association contracts, though Associa operates at national scale.

Direct peers

• Buildium: Buildium is a SaaS property management platform used by small-to-mid residential property managers and landlords. It is comparable because it enables the same rental, tenant, and owner workflows that Heritage delivers and competes for the same small-firm market segment.
• RentRedi: RentRedi is a SaaS platform serving small landlords and property managers with tenant screening, rent collection, and maintenance workflows. It is comparable because it targets the same small residential property manager segment that Heritage operates in and offers an alternative to AppFolio.
• AppFolio: AppFolio provides the SaaS property management platform that Heritage runs on, and also offers direct property management services in some markets. It is comparable because it targets the same residential property management workflow and competes for the same owner and tenant relationships.
• Propertyware: Propertyware is a property management SaaS platform focused on single-family rental portfolios. It is comparable because it serves the same small-to-mid residential property management workflow and competes with AppFolio for the underlying technology stack that Heritage relies on.
• PMI (Property Management Inc.): PMI is a franchised property management network serving residential and HOA clients across the U.S. It is comparable because it competes for the same small-firm residential and HOA management mandates and offers similar full-service management to property owners and tenants.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/heritage-property-management-av-inc

Revenue estimate

Valuation estimate

Number of profiles

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 Heritage Property Management