Modern Property Management
- Company typePrivate
- Founded2005
- HeadquartersLexington, United States
- Headcount1–10
- GTM typeB2B
- OfferingServices
Modern Property Management firmographics
Firmographics- Name
- Modern Property Management
- Legal name
- Modern Property Management, Inc.
- Website
- https://mpmlex.com
- Company type
- Private
- Founded year
- 2005
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Ownership category
- akta.pro rank
Modern Property Management industry classification
Industry- Product category
- Residential and Commercial Property Management Services
- NAICS
- Residential Property Managers (531311), Nonresidential Property Managers (531312), Real Estate Property Managers (53131)
- SIC
- Real Estate Agents & Managers (For Others) (6531), Operators Of Nonresidential Buildings (6512)
- akta.pro primary industry
- Multifamily Apartment Property Management (BPAJAFAA)
- akta.pro secondary industries
- Single-Family Rental (SFR) Property Management (BPAJAFAB), Mixed-Use Property Management (BPAJAGAE), Office Property Management (BPAJAGAA), Affordable & Subsidized Housing Property Management (LIHTC, Section 8) (BPAJAFAD)
Keywords
Where Modern Property Management is headquartered
LocationHeadquarters
- HQ city
- Lexington
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Modern Property Management business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Supply Chain
Revenue model
- Property Management Fees: Percentage-based management fees charged on rental income. Fees vary by property size: 8-10% for smaller properties, 4-5% for larger properties with on-site staff. Initial start-up fees for empty units range from one to one-half month's rent, negotiable.
- Renovation and Remodeling Services: In-house renovation and remodeling services for properties including electrical, painting, drywall, HVAC, and carpentry. Revenue generated from contractor/project fees for property upgrades and complete multi-family renovations.
- Real Estate Brokerage Services: Sales agent, buyer's agent, and brokerage services for property transactions. Revenue from real estate commissions on property purchases and sales for investors.
- PVA Tax Protest Services: Annual tax protest services on behalf of property owners, representing them in property value assessment challenges.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Smaller Properties - 8 to 10 percent management fee |
| Subscription | Monthly | Larger Properties with On-Site Staff - 4 to 5 percent management fee |
| Other | One-time | Initial Start-Up Fee for Empty Units |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels4 records
Modern Property Management product offering
Product offeringCore offering
Modern Property Management provides third-party property management services for residential rentals (single-family and multi-family), commercial properties, and homeowner associations, charging a percentage of rental income. The firm also delivers 24/7 maintenance, in-house renovation/remodeling, real estate brokerage, and PVA property tax protest services for owners and investors in the Lexington/Fayette County, Kentucky area.
Product overview
Modern Property Management is a full-service property management company offering a comprehensive suite of services centered on property management, renovation, and real estate brokerage. The company's core offerings include property management for residential (single-family homes to multi-family complexes), commercial, and HOA properties; the Tenant Portal and Owner Portal for streamlined property interactions; renovation and remodeling services; real estate sales and brokerage; PVA tax protest services; and 24/7 in-house maintenance. The company has been in business for over 21 years, serving the Lexington/Fayette County area and beyond.
Differentiator
Problem solved
Functional benefit
Products and services
- Residential Property Management (Single-Family and Multi-Family Rentals)
- Commercial Property Management
Companies that use Modern Property Management
Customer profileNamed customers2 records
Segments4 records
Ideal customer profiles3 records
Modern Property Management technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Modern Property Management partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered minor and core.
- Lexington-Bluegrass Association of RealtorsminorProfessional membership organization. MPM's brokerage is a member of this association, providing access to MLS listings, networking opportunities, and industry credibility. MPM is a RealSource associate.
- Greater Lexington Apartment AssociationminorRegional industry association for apartment managers and owners. MPM holds membership, providing networking, education, and industry representation.
- National Apartment AssociationminorNational industry association for apartment professionals. MPM holds membership for industry resources, best practices, and advocacy.
- RealSourceminorRealSource associate membership providing access to real estate marketplace, listings, and professional network for buyer's agent and brokerage services.
- AppFoliocoreAppFolio Property Manager powers MPM's technology platform with online owner/tenant portals, maintenance request systems, financial reporting, and mobile applications. MPM displays 'Powered by AppFolio' branding on their website.
Scale indicators5 records
Recent moves8 records
Expansion highlights5 records
Modern Property Management competitors and assessment
Company assessmentOthers
- AppFolio: The SaaS platform powering MPM's owner and tenant portals. Not a competitor but an enabling technology provider — also serves as a competitive equalizer for any local property manager.
Broad incumbents
- Greystar Real Estate Partners: Largest residential property manager in the U.S., offering investment management, property management, and renovation services. Represents the institutional ceiling on MPM's business model.
- FirstService Residential: Large residential property manager with a substantial HOA and condo management practice — directly overlap with MPM's HOA segment and a likely consolidator of mid-market firms.
- Lincoln Property Company: Diversified residential and commercial property manager with national reach, offering management, leasing, and renovation services comparable to MPM's full-service stack.
- RPM Living: Large multi-family third-party manager with a national footprint offering the same core property management service lines as MPM, but at significantly greater scale and across multiple asset classes.
- Cushman & Wakefield: Global real estate services firm with a property management practice spanning residential, commercial, and mixed-use assets — represents the institutional option for owners considering a switch from MPM.
- Asset Living: National multifamily property manager with similar service offerings (management, maintenance, renovation) but operating at a much larger scale across hundreds of markets.
Direct peers
- Real Property Management: National franchise of small-to-mid-sized property management firms serving residential landlords with similar turnkey management, maintenance, and brokerage offerings — directly comparable to MPM's owner-operator model.
- HomeRiver Group: National single-family rental and small multi-family property manager using percentage-based fees and comparable owner portals — closely comparable to MPM's SFR and small multi-family book.
- Pinnacle Property Management: Regional multi-family and single-family property manager offering percentage-based management fees, in-house maintenance, and owner portals — competing head-to-head with MPM for residential owners in regional markets.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat3 records
Key risks7 records
Key highlights7 records
Customer concentration
Modern Property Management social profiles
Digital presenceModern Property Management financial estimates
Financial estimateRevenue estimate
Valuation estimate
Modern Property Management leadership team
Management profileNumber of profiles
Profiles2 records
Modern Property Management funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Modern Property Management 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 Modern Property Management
What does Modern Property Management do?
Modern Property Management provides third-party property management services for residential rentals (single-family and multi-family), commercial properties, and homeowner associations, charging a percentage of rental income. The firm also delivers 24/7 maintenance, in-house renovation/remodeling, real estate brokerage, and PVA property tax protest services for owners and investors in the Lexington/Fayette County, Kentucky area.
Is Modern Property Management a public or private company?
Modern Property Management is a private company. It is classified as family owned and is currently operating.
When was Modern Property Management founded?
Modern Property Management was founded in 2005. It employs 1 to 10 people.
Where is Modern Property Management based?
Modern Property Management is headquartered in Lexington, United States, in the North America region.
How does Modern Property Management make money?
Four revenue lines are on record. Property Management Fees are the primary driver. The others are renovation and Remodeling Services, real Estate Brokerage Services and PVA Tax Protest Services.
Who are Modern Property Management's main competitors?
AppFolio is listed as an others. Broad incumbents are Greystar Real Estate Partners, FirstService Residential, Lincoln Property Company, RPM Living, Cushman & Wakefield and Asset Living. Direct peers are Real Property Management, HomeRiver Group and Pinnacle Property Management.
Does Modern Property Management have an API?
No public API is recorded for Modern Property Management.
What industry is Modern Property Management in?
Modern Property Management's product category is Residential and Commercial Property Management Services. Its primary akta.pro industry code is BPAJAFAA, Multifamily Apartment Property Management, with a secondary code of BPAJAFAB, Single-Family Rental (SFR) Property Management. Its NAICS code is 531311 and its SIC code is 6531.