First Management Inc.
First Management Inc. is a privately held residential property management company based in Lawrence, Kansas, founded in 1991. It manages apartments, townhomes, and single-family rentals primarily serving University of Kansas students and downtown residents, using AppFolio as its core technology platform.
- Company typePrivate
- Founded1991
- HeadquartersLawrence, United States
- Headcount101–250
- GTM typeB2C
- OfferingServices
What First Management Inc. does
First Management, Inc. is a privately held residential property management company incorporated in 1991 and headquartered at 932 Massachusetts St., Ste. 307, Lawrence, Kansas. The firm manages apartments, townhomes, and single-family rental homes throughout Lawrence, with a portfolio organized into three positioning tracks: downtown Massachusetts Street living (7th & Mass and 9th & Mass), close-to-campus inventory near the University of Kansas (1621 West Apartments, 1604 W 5th St., Carson Place, Stadium View, Oread Apartments), and single-family residences in Lawrence neighborhoods. New supply is in active development — 1621 West Apartments is leasing for Fall 2026 with LVT flooring and quartz countertops — while existing assets such as Stadium View have undergone full remodels.
The company operates on a dual revenue model combining recurring monthly rental income from owned/managed units with managed-services property management fees covering tenant placement, maintenance coordination, rent collection, and ongoing resident support. GTM is direct-to-consumer and product-led: prospective tenants self-serve search and apply through the company website and AppFolio listing portal, while inside-sales staff handle phone, email, and in-person inquiries at the downtown Lawrence office (Mon-Fri 9am-6pm). The core technology layer is AppFolio, which powers the resident portal (24/7 bill payment, automatic payments, payment history, service requests), online applications, and listing management. Complementary integrations include Obligio (security deposit alternative for cash-constrained tenants), PetScreening (mandatory pet/animal profiles), and Mapbox (office location mapping). Customer segments are horizontal: University of Kansas students seeking close-to-campus housing are the primary persona, with downtown urban residents and single-family seekers as secondary segments.
Operationally, First Management has scaled from 6 employees in 1995 to over 90 employees by 2025 and is owner-led by Doug Compton, who has run the company since founding under a stated resident-first service philosophy. The business is 100% Lawrence-focused with no disclosed geographic expansion, no funding rounds, no M&A, and no public-market activity. Pricing is not publicly disclosed and is unit-by-unit; required renter's insurance carries a $100,000 personal liability minimum, and security deposits or Obligio alternatives are collected at move-in. There are no patents, trademarks, certifications, or AI/ML capabilities disclosed in the input data.
First Management Inc. firmographics
Firmographics- Name
- First Management Inc.
- Legal name
- First Management, Inc.
- Website
- https://firstmanagementinc.com
- Company type
- Private
- Founded year
- 1991
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- First Management Inc. is a privately held residential property management company based in Lawrence, Kansas, founded in 1991. It manages apartments, townhomes, and single-family rentals primarily serving University of Kansas students and downtown residents, using AppFolio as its core technology platform.
- Ownership category
- akta.pro rank
First Management Inc. industry classification
Industry- Product category
- Residential Property Management
- NAICS
- Residential Property Managers (531311), Real Estate Property Managers (53131), Lessors of Residential Buildings and Dwellings (53111)
- SIC
- Operators Of Apartment Buildings (6513), Real Estate Agents & Managers (For Others) (6531)
- akta.pro primary industry
- Residential Lease Administration & Tenant Services (BPAJAFAL)
- akta.pro secondary industry
- Single-Family Rental (SFR) Property Management (BPAJAFAB)
Keywords
Where First Management Inc. is headquartered
LocationHeadquarters
- HQ city
- Lawrence
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
First Management Inc. business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Residential Property Rental: Monthly rental income from managed apartments, townhomes, and single-family homes in Lawrence, Kansas. Revenue generated through tenant lease payments.
- Property Management Services: Property management services for residential properties, including tenant placement, maintenance, and ongoing management.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | One time | Security deposit or Obligio alternative |
Go-to-market motion3 records
Distribution channels3 records
Marketing channels3 records
First Management Inc. product offering
Product offeringCore offering
First Management, Inc. manages a portfolio of residential rental properties in Lawrence, Kansas, including apartments, townhomes, and single-family homes. The company provides leasing, tenant placement, maintenance, rent collection, and ongoing resident support, primarily serving University of Kansas students, downtown residents, and single-family tenants. Operations are powered by the AppFolio property management platform, which supports online listings, applications, and a 24/7 resident portal.
Differentiator
Problem solved
Functional benefit
Products and services
- 1621 West Apartments
Companies that use First Management Inc.
Customer profileNamed customers3 records
Segments3 records
Ideal customer profiles3 records
First Management Inc. technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
First Management Inc. partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- AppFoliocoreAppFolio provides the property management software platform powering First Management's website listings, resident portal, and application process. Residents access property search, apply online, and manage their tenancy through AppFolio's connected platform.
Scale indicators4 records
Recent moves5 records
Expansion highlights4 records
First Management Inc. competitors and assessment
Company assessmentBroad incumbents
- Greystar Real Estate Partners: Largest residential property manager and operator in the world with multifamily, student, and senior housing exposure. Operates in the same category as First Management but at vastly greater scale and geographic breadth.
- Veris Residential: Multifamily owner-operator with integrated property management. Overlaps with First Management on full-service residential leasing, maintenance, and tenant services within a Class A apartment portfolio.
- Asset Living: One of the largest third-party residential property managers in the U.S., managing apartments, student, and affordable housing nationally. Comparable as a scaled residential PM operator, though with far greater geographic and asset-class breadth.
- American Campus Communities: Largest student-housing owner, developer, and manager in the U.S. Highly relevant as a benchmark for First Management's student-housing positioning in Lawrence, though at dramatically greater scale and institutional ownership structure.
Direct peers
- Campus Apartments: Student housing property manager and developer serving university markets across the U.S. Direct comparable to First Management's near-campus multifamily product line, with a similar resident-first service approach for student tenants.
- Bozzuto Group: Regional residential property management and development firm with a resident-focused brand across multifamily communities. Operates the same resident-facing service model First Management does, with similar mid-market multifamily positioning.
- RAM Partners: National residential property management firm managing apartment communities for institutional owners. Comparable third-party residential PM business with similar resident-service orientation and full-stack operations.
- BH Management Services: Mid-sized national residential property manager operating multifamily portfolios for institutional owners. Comparable to First Management as a third-party residential PM serving owners across multiple property types.
- McKinley Property Management: Regional multifamily property management firm operating in the Midwest with comparable scale and full-service residential PM offerings. Closely matched to First Management on size, geography (Midwest), and full-service management model.
Emerging players
- Pivotal Housing Partners: Student and affordable housing property manager with a growing regional footprint. Comparable to First Management on student-housing specialization, though with more geographic diversity and an institutional ownership base.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
First Management Inc. social profiles
Digital presenceFirst Management Inc. financial estimates
Financial estimateRevenue estimate
Valuation estimate
First Management Inc. leadership team
Management profileNumber of profiles
Profiles1 record
First Management Inc. funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
First Management Inc. M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about First Management Inc.
What does First Management Inc. do?
First Management, Inc. manages a portfolio of residential rental properties in Lawrence, Kansas, including apartments, townhomes, and single-family homes. The company provides leasing, tenant placement, maintenance, rent collection, and ongoing resident support, primarily serving University of Kansas students, downtown residents, and single-family tenants. Operations are powered by the AppFolio property management platform, which supports online listings, applications, and a 24/7 resident portal.
Is First Management Inc. a public or private company?
First Management Inc. is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was First Management Inc. founded?
First Management Inc. was founded in 1991. It employs 101 to 250 people.
Where is First Management Inc. based?
First Management Inc. is headquartered in Lawrence, United States, in the North America region.
How does First Management Inc. make money?
Two revenue lines are on record. Residential Property Rental is the primary driver. The others are property Management Services.
Who are First Management Inc.'s main competitors?
Broad incumbents on record are Greystar Real Estate Partners, Veris Residential, Asset Living and American Campus Communities. Direct peers are Campus Apartments, Bozzuto Group, RAM Partners, BH Management Services and McKinley Property Management. Pivotal Housing Partners is listed as an emerging player.
Does First Management Inc. have an API?
No public API is recorded for First Management Inc..
What industry is First Management Inc. in?
First Management Inc.'s product category is Residential Property Management. Its primary akta.pro industry code is BPAJAFAL, Residential Lease Administration & Tenant Services, with a secondary code of BPAJAFAB, Single-Family Rental (SFR) Property Management. Its NAICS code is 531311 and its SIC code is 6513.