CommonPlace

What CommonPlace does

CommonPlace is a US-based residential property management company founded in 2020 that operates apartment communities under a hospitality-led service model. It manages 15+ communities across 5 markets (with state presence including FL, TX, CO, NC, SC, and WI) and employs 65+ team members as a multi-market operator focused on resident experience and owner outcomes. The company differentiates through people-first operators who blend hospitality and real estate expertise, proprietary resident programs (community events, wellness initiatives, local partnership perks, credit-building/financial literacy tools), and a digital resident experience stack consisting of a secure online portal for rent payment, maintenance requests, and community communication, complemented by mobile applications supporting leasing, payments, work orders, and access control.

The underlying technology is a mobile-first property management platform operated through the Apartments247 content/website system, with a self-service community search tool that filters by city, state, zip, bedrooms, bathrooms, price, and housing type (senior, student, affordable, military). CommonPlace's go-to-market is hybrid: a direct-to-consumer website channel drives resident acquisition, while the owner/investor side is sourced through its position inside Proper's national acquisitions and property management platform, which is backed by private equity firm TriSpan and follows a "Flexible Autonomy" model preserving acquired brand identity.

CommonPlace's business model is managed services: it earns property management fees from apartment community owners, with revenue mechanics tied to managed units and the breadth of services spanning leasing, maintenance, resident management, and financial reporting. The company serves two primary customer segments — property owners/investors seeking NOI protection and operational discipline, and residential renters seeking community-oriented apartment living — and operates within the broader Collective Residential vertically integrated property management ecosystem. In February 2026, CommonPlace was acquired by Proper as the sixth operating company in its portfolio, which spans nearly 20,000 units across 15 states.

Name

CommonPlace

Legal name

CommonPlace

Website

https://livecommonplace.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

101–250 employees

Short description

CommonPlace is a US residential property management company founded in 2020 that manages 15+ apartment communities across 5 markets using a hospitality-led service model, digital resident portal, and mobile apps, and was acquired in February 2026 by PE-backed platform Proper as part of its multi-operator portfolio spanning nearly 20,000 units.

Ownership category

akta.pro rank

Product category

Multifamily Property Management

NAICS

Services to Buildings and Dwellings (5617), Facilities Support Services (561210)

SIC

Services-To Dwellings & Other Buildings (7340)

akta.pro primary industry

Multifamily Apartment Property Management (BPAJAFAA)

Keywords

• Property management services
• Multifamily housing
• Apartment communities
• Resident experience
• Hospitality-led management

Headquarters

HQ city

El Segundo

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. Property Management Services: CommonPlace provides property management services to property owners and investors, generating revenue through management fees. The company offers comprehensive services including leasing, maintenance, resident management, and financial reporting.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels2 records

Core offering

CommonPlace is a property management company that manages apartment communities on behalf of property owners and investors, delivering hospitality-led onsite operations including leasing, maintenance, resident relations, preventative maintenance programs, transparent financial reporting, and disciplined revenue operations aimed at protecting net operating income. The company supplements its management services with a mobile-first resident portal and mobile applications that allow residents to pay rent, submit work orders, and access community resources.

Product overview

CommonPlace is a property management platform operating as a single unified offering rather than a modular architecture. The core product is the Property Management Platform, which is supplemented by the Resident Portal (enabling online rent payments, work order submissions, and community team communication) and Mobile Applications (providing mobile-first access to leasing, payments, work orders, and access control). These components work together to deliver hospitality-led property management services to apartment communities across multiple markets.

Differentiator

Problem solved

Functional benefit

Products and services

• Property Management Platform Core property management service offering for apartment community owners and investors, providing hospitality-led onsite teams, leasing, maintenance, responsive support, transparent reporting, preventative maintenance programs, and disciplined revenue operations designed to manage communities and protect net operating income.

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

One partnership is on record.

• Collective ResidentialcoreStrategic or Co-development PartnerCommonPlace is part of the Collective Residential family, which provides a vertically integrated property management ecosystem. This connection gives CommonPlace access to shared resources, aligned operations, and deeper industry knowledge across leasing, management, and asset performance. The platform enables more informed decision-making and cohesive strategy from lead generation through resident retention.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• ZRS Management: ZRS Management is a multifamily property management firm managing approximately 90,000 units across multiple states. It is a direct peer competing for the same institutional owner relationships and delivering comparable resident services and ancillary fee streams.
• RangeWater Real Estate: RangeWater Real Estate is a multifamily property manager and developer focused primarily on the Sun Belt, managing tens of thousands of units. It is a direct peer competing for the same institutional and private owner relationships in markets overlapping with CommonPlace's footprint.
• RPM Living: RPM Living is a multifamily property management company headquartered in Texas managing tens of thousands of units across the Sun Belt. It is a direct peer competing for the same institutional owners and renter demographics as CommonPlace in overlapping markets.
• Avenue5 Residential: Avenue5 Residential is a multifamily property management company managing more than 100,000 units across the US. It is a direct peer offering comparable third-party management services, technology platforms, and lease-up support to the same owner and renter segments as CommonPlace.
• Bell Partners: Bell Partners is a multifamily investment and property management firm managing over 80,000 units across the US. It is a direct peer offering third-party management services to institutional owners across markets that overlap with CommonPlace's footprint.
• Valiant Residential: Valiant Residential is a multifamily property management company operating across the Sun Belt and Midwest, managing tens of thousands of units. It is a direct peer with overlapping geographic focus and comparable third-party management service offerings.

Broad incumbents

• Greystar Real Estate Partners: Greystar is the largest multifamily property management company in the United States, managing over 800,000 units globally. It is a broad incumbent competing for the same institutional owner clients as CommonPlace but at vastly greater scale, technology investment, and geographic reach.
• Asset Living: Asset Living is one of the largest third-party multifamily property managers in the US, overseeing more than 250,000 units across 40+ states. It competes with CommonPlace for the same property owner clients across multifamily and student housing and operates at a much larger national scale.
• Lincoln Property Company: Lincoln Property Company is a major national multifamily property manager with over 200,000 units under management. It is a broad incumbent competing for similar institutional and private owner relationships across CommonPlace's geographic footprint.
• Bozzuto Group: Bozzuto is a residential property management and development firm known for its hospitality-driven resident experience, closely paralleling CommonPlace's hospitality-led differentiation. It is a broader incumbent but with a similar service philosophy and lifestyle programming emphasis.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/commonplacepmc
• LinkedInlinkedin.com/company/commonplacepmc

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 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 CommonPlace