ICO Multifamily Property Management

What ICO Multifamily Property Management does

ICO Multifamily Property Management, operating under the Ivory Apartment Homes, ICO Property Management, and ICO Communities trade names, manages 17 luxury apartment communities along Utah's Wasatch Front from Kaysville to Provo. The company is a Utah-domiciled LLC (ICO Companies, LLC) and a subsidiary of Ivory Homes, the Utah homebuilder. Founded in 2015 and headquartered in the Lehi/Orem corridor, the firm employs 51–100 people and targets mid-to-upper-market renters seeking professionally managed, amenity-rich rental housing.

The core offering is a portfolio of 17 luxury apartment communities (e.g., Holbrook Apartments, ICO Station Parkway, ICO Fort Union, Royce on 9th, The Devon at University Place, Fairbourne Station, Vista Station, The District Apartments, Monte Val, The Easton, The Exton, Ridge Apartments, Orchard Farms, Mayfield) featuring studio through three-bedroom residences with wood-style flooring, quartz countertops, resort-style pools, fitness centers, dog parks, and smart-home/home-automation integrations. Differentiated add-on programs include the Ivory Smart Home Buyer Program (allocating $100/month of rent toward upgrades on a future Ivory Home, creating a renter-to-buyer pipeline within the parent ecosystem), Spruce (housekeeping, chores, pet care, laundry), a Credit Building Program, and a Rental Insurance Waiver. Technology emphasis is on integrated home-automation features rather than a proprietary software platform.

Revenue is generated primarily through monthly apartment rents (subscription/recurring) supplemented by ancillary fees from service add-ons. The company employs a direct-to-consumer GTM with self-serve online leasing via community-specific websites, a "Book a call" tour-scheduling feature, organic social presence, and email inquiry funnels. Customer segments are individual Wasatch Front renters (professionals, families, students) prioritized by premium amenities and a path to homeownership. No public revenue figures, external funding rounds, M&A activity, or third-party investor participation are disclosed; Ivory Homes serves as the sole disclosed parent and operating sponsor.

Name

ICO Multifamily Property Management

Legal name

ICO Companies, LLC

Website

https://ivoryapartmenthomes.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

51–100 employees

Short description

ICO Multifamily Property Management (Ivory Apartment Homes), a subsidiary of Utah homebuilder Ivory Homes, manages 17 luxury apartment communities across Utah's Wasatch Front, targeting mid-to-upper-market renters with resort-style amenities and a unique renter-to-homebuyer program.

Ownership category

akta.pro rank

Product category

Multifamily Residential Property Management

NAICS

Residential Property Managers (531311), Lessors of Real Estate (5311)

SIC

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

akta.pro primary industry

Multifamily Apartment Property Management (BPAJAFAA)

Keywords

• Luxury apartment rentals
• Multifamily property management
• Residential leasing services
• Apartment community management
• Renter lifestyle services

Headquarters

HQ city

Lehi

HQ country

United States

HQ region

North America

Offices10 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Infrastructure, Others

Revenue model

1. Apartment Rental Income: Monthly rental revenue from luxury apartment units across 17 Utah communities. Units include studios, one, two, and three-bedroom residences with resort-style amenities.
2. Smart Home Buyer Program Fees: Monthly credits earned by residents ($100 of each rent payment) toward purchase of upgrades on a new Ivory Home, creating ancillary revenue stream and homeowner pipeline.
3. Spruce Services Revenue: Housekeeping, chores, pet care and laundry services provided to residents for additional fees.
4. Rental Insurance Waiver Fees: Low monthly fee charged to residents who opt into the rental insurance waiver program.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

ICO Multifamily Property Management, operating as Ivory Apartment Homes, owns and manages 17 luxury apartment communities across Utah's Wasatch Front from Kaysville to Provo. It leases studio, one-, two-, and three-bedroom residences with resort-style amenities and offers ancillary resident services such as the Smart Home Buyer Program (rent credits toward future Ivory Home purchase), Spruce housekeeping and pet care, credit-building, and a rental insurance waiver.

Product overview

ICO Multifamily Property Management, operating as Ivory Apartment Homes, builds and manages 17 luxury apartment communities across Utah's Wasatch Front (from Kaysville to Provo). The core product is the Ivory Apartment Homes brand of professionally managed apartment communities offering resort-style living with thoughtfully designed residences and quality amenities. The portfolio includes individual community sub-brands such as Holbrook Apartments, ICO Station Parkway, ICO Fort Union, Royce on 9th, The Devon at University Place, Fairbourne Station, Vista Station, The District Apartments, Monte Val, The Easton, The Exton, Ridge Apartments, Orchard Farms, and Mayfield. Add-on programs include the Smart Home Buyer Program (credits rent toward future Ivory Home purchases), Spruce (housekeeping and chore services), Credit Building, and Rental Insurance Waiver.

Differentiator

Problem solved

Functional benefit

Brands

• Ivory Smart Home Buyer Program: Program allowing residents to earn monthly credits toward a future home purchase while renting, with $100 of each rent payment credited towards upgrades on a future Ivory Home.
• Spruce

Products and services

• Ivory Apartment Homes (Luxury Apartment Communities)

Quantifiable outcome

• $100 monthly credit toward future Ivory Home upgrades for residents in Smart Home Buyer Program

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• Ivory HomescoreOthersICO Property Management is part of the Ivory Homes family. ICO manages luxury apartment communities while maintaining the quality and luxury standards associated with Ivory Homes home ownership. The Smart Home Buyer Program creates a direct pipeline from ICO apartment rentals to Ivory Home purchases.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Bell Partners: Bell Partners is a vertically integrated multifamily investment and management firm operating Class A apartment communities across high-growth US markets. Comparable to ICO as a luxury multifamily operator scaling through institutional capital and developer relationships.
• RPM Living: RPM Living is a large US third-party multifamily property management firm specializing in managing Class A and luxury apartment communities for institutional and private owners. Directly comparable to ICO's luxury, resident-experience-focused apartment operating model and tech-enabled service overlay.
• Mission Rock Residential: Mission Rock Residential is a national third-party multifamily property manager focused on Class A and luxury apartment communities in fast-growing MSAs. Comparable to ICO as a resident-experience-led, amenity-rich operator competing for the same upper-tier renter profile.
• Asset Living: Asset Living is one of the largest US third-party multifamily property managers with a portfolio of more than 175,000 units across Class A and luxury product. Directly comparable as a competitor to ICO in managing upscale apartment communities with amenity-rich resident programming.

Broad incumbents

• Greystar Real Estate Partners: Greystar is the largest multifamily property management and investment company in the US, operating and managing hundreds of thousands of apartment units globally. It is a broad incumbent comparable to ICO as the benchmark institutional-scale multifamily operator and would be a direct competitor if it expanded its third-party management footprint into the Utah Wasatch Front.
• Cushman & Wakefield (Multifamily): Cushman & Wakefield is a major global real estate services firm with a dedicated multifamily asset services and property management practice. Comparable to ICO as an institutional third-party multifamily manager serving large ownership groups with luxury and Class A product.
• Lincoln Property Company: Lincoln Property Company is one of the largest diversified real estate services firms in the US, with a substantial multifamily management portfolio alongside commercial services. It is directly comparable to ICO as a high-end multifamily operator serving institutional owners across multiple MSAs.
• AvalonBay Communities: AvalonBay is a top-3 US multifamily REIT owning and operating luxury apartment communities in high-barrier coastal supply-constrained markets. A broad incumbent comparable to ICO given overlapping luxury positioning, though AvalonBay's footprint is concentrated in coastal markets rather than the Mountain West.

Others

• Ivory Homes: Ivory Homes is the largest Utah homebuilder and the disclosed parent/strategic operating entity of ICO Multifamily Property Management. Directly comparable as the parent providing development pipeline and Smart Home Buyer Program infrastructure, and adjacent to ICO through shared branding and resident-to-buyer conversion mechanics.

Regional players

• Wasatch Property Management: Wasatch Property Management is a Utah-based multifamily property management firm operating apartment communities across the Salt Lake Valley and Wasatch Front. The most direct regional comp to ICO given overlapping Utah geography and similar mid-to-upper-market apartment focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/icomultifamilypropertymanagement

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 ICO Multifamily Property Management