What Richmark Properties does

Richmark Properties, Inc. is a privately held third-party residential property management firm headquartered in Midlothian, Texas. Founded in 1989, the company provides comprehensive management services to property owners and investors across Texas and, since 2019, Oklahoma, covering conventional apartment communities as well as specialized asset classes including affordable/tax-credit housing, senior living (55+ and 62+), student housing, military housing, and assisted living. Its service suite is organized around four reporting cadences — weekly vacancy reports, monthly financials, income analysis with market rent comparisons, and annual cash flow statements — supplemented by tailored management strategies, capital project oversight, marketing, and acquisition due diligence support.

Operationally, Richmark runs on the third-party Apartments247.com platform for document management and a resident portal that supports opt-in SMS communications. The company is co-owned by CEO Sandra Prikryl (CPM-certified, broker licensed in 11 states) and CFOO Julie Lewis (25+ years in accounting), with a corporate team spanning regional portfolio management, portfolio accounting, HR, payroll, AP, and marketing functions, supported by on-site property managers and corporate trainers.

Richmark generates revenue through ongoing management contracts with property owners, earning recurring fees for operating apartment communities, conducting financial reporting, managing occupancy, and handling day-to-day operations. The go-to-market is direct-to-owner, with no disclosed channel partners or intermediaries, and geographic scope is concentrated in Texas and Oklahoma. Management fees are individually negotiated and not publicly disclosed. The company is privately held with no institutional investors, no funding rounds, no acquisitions, and no disclosed partnerships in the input data.

Name

Richmark Properties

Legal name

Richmark Properties, Inc.

Website

https://richmarkproperties.com

Company type

Private

Founded year

1989

Operating status

Operating

Headcount range

101–250 employees

Short description

Richmark Properties is a privately held Texas-based third-party residential property management firm, founded in 1989, serving property owners across Texas and Oklahoma with full-service management, reporting, and operational support across conventional, affordable, senior, student, military, and assisted living communities.

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)

akta.pro primary industry

Multifamily Apartment Property Management (BPAJAFAA)

akta.pro secondary industries

Affordable & Public Housing Asset Management (BPAJAMAI), Senior & Assisted Living Residential Property Management (BPAJAFAE)

Keywords

• Residential property management
• Apartment management services
• Multifamily housing management
• Third-party property management
• Affordable housing management

Headquarters

HQ city

Midlothian

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Third-Party Property Management Services: Richmark Properties generates revenue by providing third-party property management services to property owners and investors. The company manages residential communities on behalf of owners and charges management fees for these services. The revenue model is based on ongoing management contracts with property owners, where the company earns recurring fees for operating their apartment communities, conducting financial reporting (weekly, monthly, annual), managing occupancy, and handling operational aspects of the properties.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Richmark Properties provides third-party residential property management services for apartment communities on behalf of property owners and investors. Services include vacancy management, occupancy optimization, financial reporting (weekly vacancy reports, monthly financials, income analysis, and annual reporting), lease administration, tenant relations, marketing, and oversight of capital improvements. The company manages diverse property types including conventional, affordable housing, senior (55+, 62+), student, military, and assisted living communities across Texas and Oklahoma.

Product overview

Richmark Properties offers a unified third-party residential property management platform providing comprehensive reporting and operational services. The core offering includes four integrated reporting services: Weekly Reports (vacancy tracking and occupancy trends), Monthly Financials (earnings statements and balance sheets), Income Analysis (budget variance and market comparisons), and Annual Reporting (cash flow statements). These services are delivered to property owners through tailored management strategies, with residents accessing the system via a resident portal for communications and text messaging capabilities. The company operates throughout Texas (since 1989) and Oklahoma (since 2019).

Differentiator

Problem solved

Functional benefit

Products and services

• Third-Party Residential Property Management Services Full-service residential property management for property owners and investors, including tailored management strategies, vacancy management, occupancy optimization, lease administration, marketing, tenant relations, oversight of capital improvements and renovations, due diligence support for acquisitions, and comprehensive financial reporting (weekly vacancy reports, monthly financials, income analysis, and annual cash flow statements).
• Resident Portal and Text Messaging Service Online resident portal enabling residents to manage communications, opt-in to text messaging for lease, maintenance, community events, and payment information, and handle subscription preferences. Delivered via the Apartments247.com document portal platform.

Quantifiable outcome

• Transforming financially troubled assets into highly equitable assets
• +1 more outcomes

Segments7 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators1 record

Recent moves7 records

Expansion highlights4 records

Direct peers

• ZRS Management: Privately held regional-to-national multifamily property manager with portfolio spans across conventional, affordable, and senior housing. Comparable to Richmark on third-party managed services delivery and property-type diversification.
• Valiant Residential: Private-equity-backed third-party multifamily property manager with national footprint managing conventional and affordable assets. Directly comparable to Richmark on service offering, customer segment, and concentration in similar property types.
• Fogelman Management Group: Mid-sized third-party multifamily property manager with regional Sun Belt exposure. Closely matches Richmark in business model, customer segment (property owners), and property-type mix including conventional and affordable housing.
• RPM Living: Texas-based (Austin) third-party multifamily property management firm serving owners and investors across a multi-state footprint. Directly comparable because it competes head-to-head with Richmark for the same owner/investor customer base on the same type of service offering (managed services for residential communities).
• Bell Partners: Established third-party multifamily property manager active across the Sun Belt including Texas, with a sizable institutional-quality portfolio. Comparable to Richmark on managed services delivery model and owner-customer base, at greater scale.
• Asset Living: Houston-based multifamily property manager with national reach, serving property owners across conventional, affordable, and senior housing. Comparable to Richmark because it sells the same third-party management service to the same property-owner segment across overlapping Sun Belt geographies.

Broad incumbents

• Lincoln Property Company Residential: National residential property management arm of Lincoln Property Company, one of the largest diversified real estate operators in the U.S. Competes with Richmark for the same owner segment on the same multifamily management service.
• Greystar Real Estate Partners: The largest residential property manager in the U.S., operating a national multifamily management platform with hundreds of thousands of units. Overlaps with Richmark across multifamily, affordable, and senior management but at vastly greater scale and across all 50 states.
• BH Management Services: Large, established third-party multifamily property manager serving institutional and private owners nationwide with a broad service portfolio. Competes with Richmark for the same owner/investor clients on the same managed services offering, but at materially larger scale.
• Willow Bridge Property Company: CBRE-owned multifamily property management platform serving institutional owners nationally. Overlaps with Richmark across multifamily and affordable management as a broad incumbent backed by a global real estate services parent.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

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 Richmark Properties