What Bender Midwest Properties does

Bender Midwest Properties is a privately held property management company founded in 1998 and headquartered at 305 W 57th St, Sioux Falls, South Dakota. The firm manages a diversified portfolio of more than 90 properties — over 50 commercial assets (retail, office/medical, industrial) and over 40 residential assets (apartments, townhomes, single-family homes, and furnished units) — across Sioux Falls, Brandon, Pierre, Tea, Harrisburg, Watertown, and Rapid City. It also manages the Cherry Lake HOA community and partners with multiple storage operators to round out the resident ecosystem. The company serves three primary customer segments: residential tenants seeking rental housing, individual and institutional property owners seeking management services, and commercial tenants leasing retail, office, medical, and industrial space.

The operating stack is built on AppFolio's Property Manager platform, which powers tenant, owner, and HOA portals accessible via web and native iOS/Android apps. Operational features include online rent payment with automatic ACH, maintenance request tracking, owner financial statements, and document sharing. Selected properties offer interactive 3D virtual tours. The company is part of a three-entity real estate family alongside Bender Co (development, brokerage, construction) and Bender Realtors (residential brokerage); the 'Buy with Bender' program credits tenants their last month's rent when they purchase a home through Bender Realtors, creating cross-entity retention. Resident-facing extras include a $15/month Resident Benefit Package bundling 24/7 emergency maintenance, filter service, late-fee waiver, safety checkups, and referral bonuses.

Revenue is generated through management fees on owner portfolios (residential and commercial), the recurring Resident Benefit Package subscription, HOA management fees, and ancillary partnerships with storage operators. No revenue is publicly disclosed. The firm employs 11-50 staff including a President (Jill Madsen, 28+ years industry experience), a VP of Finance & Operations (Derek Brown, joining July 2026), a Director of Residential Property Management (Jody Bjornebo), two regional commercial property managers, roughly a dozen licensed property managers and leasing agents, an accounting team, and a maintenance crew of 10+ technicians.

Name

Bender Midwest Properties

Legal name

Bender Midwest Properties

Website

https://bendermidwestproperties.com

Company type

Private

Founded year

1998

Operating status

Operating

Headcount range

11–50 employees

Short description

Bender Midwest Properties is a privately held property management company founded in 1998 in Sioux Falls, South Dakota. It manages 90+ residential and commercial properties across seven South Dakota cities for tenants, property owners, and HOA communities using the AppFolio platform.

Ownership category

akta.pro rank

Product category

Property Management Services

NAICS

Residential Property Managers (531311), Lessors of Nonresidential Buildings (except Miniwarehouses) (531120)

SIC

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

akta.pro primary industry

Multifamily Apartment Property Management (BPAJAFAA)

akta.pro secondary industries

Single-Family Rental (SFR) Property Management (BPAJAFAB), HOA / Condominium Association Management (BPAJAFAH)

Keywords

• Residential property management
• Commercial property leasing
• Apartment rental services
• HOA management services
• Tenant placement services

Headquarters

HQ city

Sioux Falls

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Property Management Services: Management fees charged to property owners for comprehensive property management including tenant screening, rent collection, maintenance, and financial reporting. Services cover multi-family residential, single-family homes, and commercial properties.
2. Tenant Rent Collection: Facilitates rent collection from residential and commercial tenants through online portal with automatic payment options. Tenants pay rent which is processed through the property management system.
3. Resident Benefit Package: $15 per month add-on program providing tenants with additional services including emergency maintenance hotline, filter service, late fee waiver, safety checkups, and other benefits. This represents an optional recurring revenue stream.
4. HOA Management Services: Homeowners association management services for communities like Cherry Lake HOA, including community management, maintenance coordination, and administrative services.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Bender Midwest Properties is a property management company that manages residential apartments, single-family homes, furnished units, commercial spaces (retail, office, medical, industrial), storage facilities, and HOA communities across South Dakota. The company provides full-service management including tenant screening, rent collection, property maintenance, and financial reporting for property owners, while marketing rental availability to prospective tenants through its website and online portals.

Product overview

Bender Midwest Properties is a property management company established in 1998 that offers a diversified portfolio of residential and commercial real estate services. The company operates as a unified platform managing apartments (across Sioux Falls, Brandon, Pierre, and Tea locations), single-family homes, commercial spaces, storage units, and HOA communities. The product ecosystem includes core property management services (marketing, tenant relations, maintenance, financial/accounting) supported by digital platforms: the Resident Portal for rent payments and maintenance requests, the Owner Portal for financial statements and document access, and a Resident Benefit Package add-on. The company specializes in multi-family residential properties, providing both unfurnished and furnished unit options, while also maintaining commercial retail, office/medical, and industrial real estate portfolios.

Differentiator

Problem solved

Functional benefit

Brands

• Bender: Sister company providing brokerage, development, and Realtor services.
• Bender Realtors

Products and services

• Residential Apartment Rentals Multi-family residential apartments across Sioux Falls (central, eastside, southside, westside locations), Brandon, Pierre, and Tea, South Dakota, offering studios through multi-bedroom units with amenities such as in-unit laundry, garages, pet-friendly options, pools, fitness centers, and online rent payment. Properties include Villas at Canyon Creek, Summit Apartments, Pinehurst Apartments, Prairie Vista Apartments, Country View Estates, Lipton Apartments, Riverview Apartments, Tower Apartments, and others.
• Single-Family Home Rentals Single-family residential homes for rent in the Sioux Falls area, featuring landscaped yards, large green spaces, washer/dryer included, and 24/7 emergency maintenance support.
• Commercial Property Leasing Commercial real estate for lease including retail centers (Western Mall, Marion Mall, Rushmore Plaza, Park Ridge Galleria, Southway Center), office/medical buildings (IMA Building, Oxbow Square, The Summit Building), and industrial properties across South Dakota including Rapid City.
• Storage Facility Rentals Storage facilities including Arena Storage, Best Sioux Falls Storage, Casco Storage Units, East Bank Storage, PM Storage Units, Stamp Storage, Store Sioux Falls, and Katie Road Units, marketed to tenants as part of the broader property ecosystem.
• HOA Management Services Homeowners Association management services for communities such as Cherry Lake HOA, a 30-acre lake community with walking trails, playground, beaches, and fishing located in Sioux Falls. Includes community management, maintenance coordination, administrative services, and dedicated HOA portal access.
• Furnished Unit Rentals Fully furnished apartment units available at select properties including Gateway Apartments, Pinehurst Apartments, Summit Apartments, Villas at Canyon Creek, and select single-family homes, targeting tenants seeking turnkey short-term or temporary housing.
• Property Management Services Comprehensive third-party property management for property owners including marketing, tenant screening, rent collection, property maintenance, financial reporting, and legal compliance across multi-family residential and commercial assets.
• Resident Benefit Package Optional $15/month subscription add-on for tenants providing 24/7 emergency maintenance hotline, online resident portal, filter service, annual safety checkups, quality repairs, late fee waiver (once per year), no lease renewal fee, no new lease admin fees, Buy with Bender credit (equal to last month's rent when purchasing through Bender Realtors), and referral bonus credits.

Quantifiable outcome

• No lease renewal fees - simple, transparent renewal process
• +4 more outcomes

Named customers3 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

Feature5 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Bender Co (Sister Company)coreStrategic or Co-development PartnerBender Co is a sister company of Bender Midwest Properties, providing development and construction services for real estate projects. Together they offer integrated real estate services including property development, management, and brokerage.
• Bender Realtors (Sister Company)coreStrategic or Co-development PartnerBender Realtors is a sister real estate brokerage company that works in conjunction with Bender Midwest Properties. The 'Buy with Bender' program offers residents who complete their lease term a credit equal to their last month's rent when purchasing a home through Bender Realtors.
• AppFoliocoreTechnology or IntegrationAppFolio provides the property management technology platform powering Bender Midwest Properties' tenant portal, owner portal, and HOA portal. The platform enables online rent payment, maintenance request submission, financial reporting, and mobile app access.
• Cherry Lake HOAcoreOthersCherry Lake HOA is a homeowner association community managed by Bender Midwest Properties. Located at 12th Street and Tea/Ellis Road on the west side of Sioux Falls, the 30-acre lake community includes walking trails, playground, beaches, and fishing.
• Storage Facility PartnersminorChannel Partner/ Reseller/ DistributorPartnership with multiple storage facilities including Arena Storage, Best Sioux Falls Storage, Casco Storage Units, East Bank Storage, PM Storage Units, Stamp Storage, Store Sioux Falls, and Katie Road Units. These storage options are marketed to tenants as part of the property ecosystem.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Others

• AppFolio: AppFolio is the property management software platform that powers Bender Midwest's tenant and owner portals, mobile apps, and operational backbone. Included as an ecosystem/technology partner rather than a direct competitor, but materially shapes Bender's service delivery model.

Direct peers

• Mynd Management: Mynd is a tech-enabled residential property management company serving small and mid-sized rental portfolios across the U.S. Comparable to Bender Midwest as a residential property manager leveraging modern technology, though Mynd is single-family focused and operates at larger scale.

Broad incumbents

• Bozzuto Group: Bozzuto is a multifamily property management, development, and construction firm managing 100,000+ units across the Eastern U.S. Comparable to Bender Midwest in multifamily property management with integrated development capabilities analogous to the Bender Co sister-company relationship.
• RPM Living: RPM Living is a national multifamily property management firm that has grown aggressively through acquisitions. Comparable multifamily management focus to Bender Midwest, though RPM operates across multiple states with a much larger unit count.
• Greystar Real Estate Partners: Greystar is the largest multifamily property management, investment, and development firm in the U.S., managing over 800,000 units. Comparable to Bender Midwest as a multifamily property manager, though operating at national scale across investment, development, and management.
• Asset Living: Asset Living is one of the largest third-party multifamily property managers in the U.S. with over 300,000 units under management. Comparable to Bender Midwest in the core multifamily property management offering, but operating nationally with institutional-grade systems.
• Lincoln Property Company: Lincoln Property Company manages residential and commercial properties nationally, including multifamily apartments. Directly comparable service offering to Bender Midwest, though substantially larger and diversified across geographies and asset classes.
• Cushman & Wakefield: Cushman & Wakefield is a major global commercial real estate services firm offering property management, leasing, and valuation across all major asset classes including office, retail, and industrial. Comparable to Bender Midwest's commercial property management arm, though operating globally with institutional clients.

Market position

Weaknesses4 records

Competitive moat5 records

Key risks1 record

Key highlights7 records

Customer concentration

• Facebookfacebook.com/siouxfallsapartments
• LinkedInlinkedin.com/company/bender-midwest-properties

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 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 Bender Midwest Properties