The Cromwell Co.

What The Cromwell Co. does

The Cromwell Company is a family-owned property management firm headquartered at 1725 Columbus Ave, Waco, Texas, founded in 1969 by F. Rhea Cromwell, Jr. under the 'fee asset management' concept. The company manages a diversified portfolio of residential, multi-family, commercial, office-warehouse, and retail properties, including four owned/managed apartment communities (The Benchmark Apartments, Solstice Valley Mills, Legacy Ridge, and Brownstone Apartments) and fourteen HOA/condominium associations such as Castlegate Townhomes, Falcon Pointe, and Pecan Village, with proximity to Baylor University as a key tenant demand driver.

The firm's technology backbone is AppFolio Property Manager, a third-party cloud-based platform that powers the Resident Portal (rent payment, maintenance requests, account access via web and iOS/Android app), the Owner Portal (financial statements, document access, online payments), and HOA management workflows. Beyond the platform, the company delivers nine integrated service modules: Prospect Qualification and Leasing, Property Maintenance (including 24/7 emergency response), Strategic Marketing, Accounting, Due Diligence, Project Management, HOA Management, Tenant Care, and Asset Management.

Commercially, Cromwell operates a direct-to-consumer, SMB-focused model serving individual property owners, real estate investors, residential tenants, and HOA/condominium associations within a single Waco, TX market. Revenue derives from fee-based asset management structured around property income, ancillary HOA transaction fees ($375 per resale certificate; $75 for updates), and project/capital improvement margins. The firm is privately held under family ownership (currently Leighton Cromwell as Owner/Realtor), with no institutional capital, no external funding rounds, no disclosed headcount growth, and no geographic expansion outside the Waco metropolitan area. The team is small (approximately 7 named personnel) and includes licensed realtors and a maintenance staff.

Name

The Cromwell Co.

Legal name

Cromwell Mgmt Company

Website

https://cromwellco.com

Company type

Private

Founded year

1969

Operating status

Operating

Headcount range

1–10 employees

Short description

The Cromwell Company is a family-owned Waco, Texas property management firm founded in 1969 that manages residential, multi-family, commercial, and HOA properties using the AppFolio platform, serving individual property owners, investors, residential tenants, and HOA associations.

Ownership category

akta.pro rank

Product category

Property Management Services

NAICS

Residential Property Managers (531311), Real Estate Property Managers (53131)

SIC

Operators Of Apartment Buildings (6513), 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

HOA / Condominium Association Management (BPAJAFAH), Affordable Housing Property Management (BPAJAGAJ)

Keywords

• Property management
• Residential rental management
• HOA management
• Apartment management
• Real estate asset management

Headquarters

HQ city

Waco

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Asset Management Fees: Fee-based asset management where fees are structured to align with the asset's income, ensuring interests are aligned with property owners. This 'fee asset management' approach started in 1969 with the company's founding concept.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

The Cromwell Co. is a property management firm that manages residential, multi-family, commercial, office-warehouse, and retail properties on behalf of owners and investors, plus HOA/condominium associations, in the Waco, Texas market. The company directly owns and operates four apartment communities (The Benchmark Apartments, Solstice Valley Mills, Legacy Ridge, and Brownstone Apartments) and provides full-service property management including leasing, tenant screening, maintenance, accounting, due diligence, and project management. Service delivery is supported by AppFolio's cloud-based property management platform, providing online owner and resident portals plus a mobile app.

Product overview

The Cromwell Co. is a family-owned property management company founded in 1969 that manages a diverse portfolio of residential, multi-family, commercial, office-warehouse, and retail properties in Waco, TX. The company operates as a platform-plus-services model, offering four managed apartment communities (The Benchmark Apartments, Solstice Valley Mills, Legacy Ridge, and Brownstone Apartments) alongside comprehensive property management services. The core technology platform consists of AppFolio-powered Resident and Owner Portals providing cloud-based rent collection, maintenance request management, and financial reporting. The service portfolio includes nine integrated modules: Prospect Qualification and Leasing, Property Maintenance, Strategic Marketing, Accounting, Due Diligence, Project Management, HOA Management, Tenant Care, and Asset Management.

Differentiator

Problem solved

Functional benefit

Products and services

• The Benchmark Apartments A fully-gated apartment complex near Baylor Campus offering one to four-bedroom units with stained concrete floors, nine-foot ceilings, crown molding, fully equipped kitchens, and full-size washer/dryers. All bills are paid including electricity, water, sewage, internet, and cable. Targeted at students, faculty, and professionals seeking premium campus-area rentals.
• Solstice Valley Mills A newly renovated apartment complex centrally located near grocery stores, restaurants, and shopping centers. Features on-site washroom, flat fee water, and shared community area. Targets renters seeking convenience and central Waco access.
• Legacy Ridge An apartment complex near Waco hot spots featuring renovated units with LVP flooring, modern fixtures, and spacious bedrooms. Targets renters seeking renovated, modern accommodations in central Waco.
• Brownstone Apartments A centrally located affordable campus housing community near Baylor University with easy access to food and entertainment. Pet-friendly property with security deposit based on credit score. Targets students and pet owners seeking affordable, central rentals.
• Property Management Services Full-service property management for residential, multi-family, commercial, office-warehouse, and retail properties including prospect qualification, leasing, tenant screening, marketing, maintenance with 24/7 emergency response, accounting and financial reporting, due diligence, project management, and tenant care. Targeted at property owners and real estate investors in Waco, TX.
• HOA Management Services Community operations management for homeowners associations and condominium communities including administrative support, financial management, maintenance coordination, governance compliance, and resale/transfer certificate processing ($375 resale certificate; $75 updated resale certificate). Targeted at HOA and condominium boards in the Waco area; currently serves 14 communities.

Named customers3 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature3 records

Partnerships

One partnership is on record.

• AppFoliocoreTechnology or IntegrationAppFolio Property Manager is the cloud-based property management software platform powering Cromwell's online portals. Provides resident portal for rent payments and maintenance requests, owner portal for financial statements and documents, and mobile app access. The partnership enables 24/7 online access for tenants and property owners.

Scale indicators3 records

Recent moves4 records

Expansion highlights2 records

Others

• AppFolio: Cloud-based property management software platform that powers Cromwell's resident, owner, and HOA portals. As an enabling technology vendor, AppFolio defines the operational capability Cromwell delivers to its clients.

Broad incumbents

• Greystar Real Estate Partners: Largest multifamily property management company in the US, managing ~800,000 units globally. Directly comparable in multifamily and HOA-adjacent services, though at vastly greater scale and geographic breadth than Cromwell.
• Cushman & Wakefield: Global commercial real estate services firm with property management, valuation, and brokerage offerings. Overlaps with Cromwell's commercial and office-warehouse management segment.

Direct peers

• Lincoln Property Company: Diversified real estate services firm with a large multifamily management division. Comparable to Cromwell's full-service residential management across apartment communities.
• Associa: Largest HOA and community association management company in North America. Directly comparable to Cromwell's HOA/condominium association management services across 14+ communities.
• Asset Living: Third-largest multifamily property manager in the US, providing fee-based management, leasing, and accounting services. Comparable to Cromwell's full-service multifamily and apartment management model, though operating nationally.
• Avenue5 Residential: Multifamily property management firm serving owners and investors with full-service management. Comparable business model to Cromwell's owner-direct fee-based management approach.
• BH Management Services: Multifamily property management firm managing ~160,000 units across the US. Directly comparable service offering to Cromwell's apartment management, leasing, and resident services.
• RPM Living: Multifamily property management company managing ~180,000+ units. Closely aligned service portfolio with Cromwell's apartment and HOA management business.
• FirstService Residential: Major residential property and HOA management firm serving condominium and homeowner associations. Comparable to Cromwell's HOA management and residential property oversight offerings.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat2 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/cromwellwaco
• Facebookfacebook.com/CromwellManagementCo

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 The Cromwell Co.