Korman Residential Properties

What Korman Residential Properties does

Korman Residential Properties is a privately held, family-owned multifamily real estate investment and management firm headquartered in Haverford, Pennsylvania, with operational roots tracing to 1917 when Hyman Korman acquired Hamilton Farm in Northeast Philadelphia. The company owns and operates a portfolio of multifamily properties across the Mid-Atlantic region — Pennsylvania, New Jersey, and Delaware — and serves individual renters, corporate clients, and third-party institutional owners. It is currently led by John Korman (CEO) and James Korman (President), representing the fifth generation of family leadership alongside Dylan Korman (Director of Acquisitions) and Tyler Korman (Director of Marketing).

The company's product surface is organized around four core offerings: standard unfurnished apartments, fully furnished apartments (at 3737 Chestnut, Casa Del Sol, and Cherrywood), short-term corporate suites, and the MicroSuites sub-brand of compact, tech-enabled units with Smart TVs and transformable layouts. Adjacent branded programs include Modernista Apartments (eco-friendly design with Green Label Plus carpet, Zero VOC paint, Energy Star appliances, and FSC certified cabinets), the Woof Woof Club dog parks, the LIVEKORMAN Bike Share, and Common Ground Gardens. The ManagementPlus subsidiary delivers third-party institutional property management services, and Korman Ventures operates as a wholly owned venture investment subsidiary. Technology stack consists of an AI-integrated CRM supporting 24-hour leasing and lead management, a resident portal for online rent payment and service requests, and consumer-grade smart features within MicroSuites; no proprietary AI/ML models, patents, or public API surface were identified.

The revenue model is anchored in recurring multifamily rental income from owned and operated properties, supplemented by management fees from the ManagementPlus third-party platform and corporate-suite short-term rentals. The company structures joint-venture partnerships with institutional capital partners, private equity funds, and family offices to capitalize individual acquisitions of 100+ unit properties. Pricing is quote-based and varies by property, unit size, and lease term; no public pricing tiers are disclosed. Distribution is direct-to-consumer via the livekorman.com website, the 888-2-KORMAN phone line, on-site leasing offices, and dedicated property microsites, with marketing emphasizing the four LIVEKORMAN Guarantees (100% Move-In Satisfaction, 24-Hour Service, Relocation, and Flexible Lease Terms) rather than price competition.

Name

Korman Residential Properties

Legal name

Korman Residential Properties

Website

https://livekorman.com

Company type

Private

Founded year

1917

Operating status

Operating

Headcount range

251–500 employees

Short description

Korman Residential Properties is a privately held, family-owned multifamily real estate investment and management firm operating in the Mid-Atlantic region, providing apartment rentals, furnished housing, corporate suites, and third-party property management services across Pennsylvania, New Jersey, and Delaware.

Ownership category

akta.pro rank

Product category

Multifamily Residential Property Management

NAICS

Residential Property Managers (531311), Real Estate Property Managers (53131), Lessors of Residential Buildings and Dwellings (531110)

SIC

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

akta.pro primary industry

Multifamily Apartment Property Management (BPAJAFAA)

akta.pro secondary industry

Furnished Corporate Apartments (Urban, Mid-Rise) (THAMAHAG)

Keywords

• Multifamily property management
• Residential real estate
• Apartment leasing
• Corporate housing
• Third-party property management

Headquarters

HQ city

Blue Bell

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D, Supply Chain, Others

Revenue model

1. Multifamily Rental Income: Long-term and short-term apartment rentals generating recurring rental income from tenants across multiple properties in Pennsylvania, New Jersey, and Delaware.
2. Furnished Apartment Rentals: Fully furnished apartments for short-term corporate stays and extended housing, including corporate suites with flexible lease terms.
3. Third-Party Property Management (ManagementPlus): Institutional-grade property management services for third-party apartment community owners, delivering best-in-class operations and operational performance optimization.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Korman Residential Properties is a vertically integrated multifamily real estate investment and management firm that owns, operates, and leases apartment communities across Pennsylvania, New Jersey, and Delaware. The company rents unfurnished apartments, fully furnished apartments, and corporate suites, and offers MicroSuites with integrated smart technology and Modernista eco-friendly apartments. Through its ManagementPlus platform, Korman also provides institutional-grade third-party property management services for external apartment community owners.

Product overview

Korman Residential Properties operates as a vertically integrated multifamily real estate investment and management company offering a diversified portfolio of residential products. The core offering consists of unfurnished apartments, furnished apartments, and corporate suites available at multiple properties across Pennsylvania, New Jersey, and Delaware. The company differentiates through branded lifestyle programs including MicroSuites & Apartments (smart living with transformable spaces and integrated technology), Modernista Apartments (eco-friendly design with sustainable materials and Energy Star appliances), and lifestyle amenities such as the Woof Woof Club dog parks, Bike Share Program, and Common Ground Gardens. The LIVEKORMAN Guarantees program provides resident-facing assurances covering satisfaction, service response, relocation, and flexible lease terms. For investors, the ManagementPlus platform offers third-party property management services. The company was founded in 1917 and remains privately held under family leadership.

Differentiator

Problem solved

Functional benefit

Brands

• ManagementPlus: Third-party management platform delivering institutional-grade expertise and best-in-class operations for apartment communities.
• MicroSuites & Apartments
• Modernista Apartments
• Woof Woof Club
• LIVEKORMAN Bike Share
• Common Ground Gardens

Products and services

• Apartments Standard unfurnished multifamily apartments available across multiple properties in Philadelphia, PA, Haverford, PA, and Clementon, NJ, offering one and two-bedroom options for individuals and families seeking quality rental housing.
• Furnished Apartments Fully furnished apartments available at designated properties including Korman Residential at 3737 Chestnut, Casa Del Sol, and Cherrywood, targeting corporate clients and individuals seeking short-term housing solutions.
• Corporate Suites Short-term corporate housing accommodations designed for business travelers and professionals needing temporary housing with flexible lease terms, available through Korman's furnished apartment portfolio.
• MicroSuites & Apartments Compact living spaces designed with transformable layouts, smart storage solutions, and integrated technology including Smart TVs, offered as either unfurnished apartments or fully furnished move-in ready MicroSuites with included utilities and Wi-Fi for urban professionals and short-term residents.
• Modernista Apartments Eco and Earth-Friendly apartment design featuring Green Label Plus carpet, recycled wood flooring with 74% pre-consumer recycled content, Zero VOC paint, Energy Star appliances, low-flow showerheads, and FSC certified locally sourced wood cabinets, available at Casa Del Sol, Cherrywood, 3737 Chestnut, 2029 Walnut, and 2130 Locust properties for environmentally conscious renters.
• ManagementPlus Third-party property management platform delivering institutional-grade property management, on-site staff supervision, integrated marketing and leasing, value-add renovation capabilities, financial controls, and disposition preparation services for apartment communities owned by external institutional clients, private equity funds, and family offices.

Quantifiable outcome

• Over $600 million in multifamily acquisitions and dispositions from 2010-2019
• +2 more outcomes

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Four partnerships are on record, tiered major and minor.

• Resorts InternationalmajorStrategic or Co-development Partner · 1 January 1980Strategic joint venture with Resorts International during the 1980s capital structuring and partnership expansion period.
• Trusthouse ForteminorStrategic or Co-development Partner · 1 January 1980Partnership with Trusthouse Forte to convert the Plaza Apartments into the Palace Hotel during the 1980s.
• Franklintown DevelopmentminorStrategic or Co-development Partner · 1 January 1980Participation in major mixed-use development including Franklintown in Center City Philadelphia during the 1980s.
• Reynolds MetalsmajorStrategic or Co-development Partner · 1 January 1960Joint venture with Reynolds Metals to develop one of the largest urban renewal projects in the country during the 1960s expansion era.

Scale indicators6 records

Recent moves7 records

Expansion highlights5 records

Market position

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

• Xx.com/livekorman
• Facebookfacebook.com/kormanresidential
• LinkedInlinkedin.com/company/korman-residential

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries2 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 Korman Residential Properties