## Top 8 Apartment Property Management Companies in Texas

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### 1. Savoy Residential (formerly Indio Management) — Dallas, TX

Savoy Residential is the third-party property management division of the Savoy Companies — a Dallas-based real estate platform that also includes Savoy General Contractors (formerly Cardiff Construction) and Savoy Equity Partners, whose investment activity includes [Savoy's Opportunity Zone funds](/guides/best-opportunity-zone-funds-2026) with $92M+ in OZ equity deployed into Texas workforce housing. **The firm was previously known as Indio Management and rebranded as Savoy Residential in 2026 as part of a platform-wide consolidation under the Savoy name.** That history matters operationally: the management practice was built by active owners and operators, not administrators, and it shows in how they approach reporting, CapEx decisions, and resident operations.

Savoy Residential currently manages 7,100 units across Texas and has overseen 13,000+ lifetime unit renovations — a number that reflects genuine value-add experience, not lease renewals on stabilized assets. Their team of 150+ serves both Savoy-owned communities and third-party owner clients. The construction integration is the real differentiator: when a CapEx project is required, the management team coordinates directly with Savoy General Contractors, eliminating the markup and scheduling friction that comes from sourcing a third-party GC. Notable third-party clients include Fundamental (national multifamily investment partner) and the Bishop Ridge portfolio (19 communities, 716 units). Scale range runs from 20-unit boutique assets to 2,000+ unit portfolios.

**Geography:** Texas Triangle

**Technology:** Institutional reporting, real-time analytics, automated workflows

**Units Managed:** 7,100

**Third-Party:** Yes

**Vertically Integrated:** Yes (construction)

---

### 2. Equity REM — San Diego HQ / Dallas Operations

Equity REM (Equity Real Estate Management) is a multifamily-focused property management company with over 40 years of combined leadership experience in apartment operations. **Their Dallas-based operations team shares leadership with JNT Construction, making Equity REM effectively a vertically integrated real estate platform** — one organization that can cover construction management, renovation CapEx, and property operations under a common ownership umbrella. This structure is increasingly rare at their price point and gives owner clients a single accountability point from acquisition through stabilization.

Equity REM runs Entrata as their core technology platform, providing owners with real-time reporting, resident portals, and automated lease management. Their focus is conventional Class B and C multifamily with renovation complexity — the kind of asset where operational and construction decisions are interdependent. Their asset management team brings data-driven portfolio analysis to help clients make better decisions on hold/sell timing and capital allocation. They operate nationally but have meaningful Texas presence through the JNT Construction relationship, with experience across DFW and surrounding markets.

**Geography:** National, DFW emphasis

**Technology:** Entrata

**Units Managed:** Not publicly disclosed

**Third-Party:** Yes

**Vertically Integrated:** Yes (JNT Construction affiliation)

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### 3. Bellaire Multifamily — Dallas, TX

Bellaire Multifamily Management (BMM) is a boutique full-service property management firm built specifically around distressed and value-add B and C class apartment communities across major Texas markets. Their positioning is clear: they take over troubled assets — properties with deferred maintenance, collections problems, operational dysfunction — and stabilize them. That is a harder management challenge than taking over a well-run Class A, and their team is structured around it.

BMM publishes IRR case studies on their managed assets, which is unusual in the third-party PM world and signals a level of ownership-mindset transparency that most operators avoid. Their growth trajectory in DFW has been steady, with recent management takeovers including Bella Vida and CDMX Apartments in Dallas — both distressed assets repositioned under their management. They cover all major Texas markets including DFW, San Antonio, Houston, and secondary markets such as Hurst and Wichita Falls. For owners who have inherited a problem asset or are acquiring distressed situations where the first 90 days of management are the hardest, Bellaire's team has a playbook built for exactly that scenario.

**Geography:** Texas statewide (DFW, San Antonio, Houston, secondary markets)

**Technology:** Not publicly specified

**Units Managed:** Not publicly disclosed

**Third-Party:** Yes

**Vertically Integrated:** No

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### 4. Compass Multifamily — Dallas, TX

Compass Multifamily is a Dallas-based third-party property management company focused exclusively on B and C class apartment communities. The firm was founded by Ryan Wehner, who previously built Wehner Multifamily from a single property to 200+ communities and 25,000+ units before selling to a private equity group in 2019. That founder experience — scaling a management platform, then stepping back out and doing it again — produces a specific kind of operational discipline that is hard to manufacture in a management company that has always been large.

Compass has developed proprietary cloud-based technology tools that sit on top of their core PMS, including daily performance reports with real-time occupancy, collected rents, move-in/move-out data, and work order status. Their owner portal philosophy is that clients should never have to call to find out what is happening on their property. Their geographic footprint is primarily DFW and Oklahoma, with Texas properties concentrated in Dallas, Fort Worth, and surrounding suburbs. For owners who want B/C management with genuine PropTech capability and a founder who has been through the full cycle of building and selling a large management platform, Compass is a legitimate option.

**Geography:** DFW, Oklahoma

**Technology:** Proprietary cloud-based platform, daily performance reporting

**Units Managed:** Not publicly disclosed (founder previously managed 25,000+)

**Third-Party:** Yes

**Vertically Integrated:** No

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### 5. Catalyst Multifamily — Denver, CO / Dallas, TX

Catalyst Multifamily was founded in 2007 and has over 30 years of combined principal experience in ownership, brokerage, and management of B and C class multifamily properties in Texas and Colorado. Their principals have personally owned more than 5,000 units — a meaningful ownership background that informs how they make management decisions for third-party clients. The firm currently manages approximately 3,000 B and C class units across DFW and San Antonio.

Catalyst's operational model is built around standardization and staff-to-unit ratios. They have a 157-page standard operating manual that covers every aspect of management from takeover through stabilization — a level of process documentation that points to institutional ambition in a boutique-sized operation. They also serve as construction manager for renovation projects and have overseen $15M+ in renovation CapEx across their portfolio in recent years. Technology runs on RealPage OneSite, providing institutional-grade reporting and resident-facing capabilities. Their DFW market presence makes them a credible choice for mid-market B/C assets where the owner wants management with genuine principal-level attention to NOI.

**Geography:** DFW, San Antonio, Colorado

**Technology:** RealPage OneSite

**Units Managed:** ~3,000 (DFW and San Antonio)

**Third-Party:** Yes

**Vertically Integrated:** Partial (in-house renovation/construction management)

---

### 6. LUMA Residential — Dallas, TX

LUMA Residential is a Dallas-based multifamily property management firm with over 40 years of combined team experience in apartment operations. Their platform is organized around a joint venture with Rockport Equity, a Dallas-founded value-add multifamily investment firm with a portfolio exceeding $1 billion in asset value. This structure positions LUMA as a vertically integrated suite: investment management, property management, and construction management operating in coordination rather than as separate vendor relationships.

LUMA's stated focus is on "strategic transformation" — the practice of taking a property beyond routine maintenance and toward genuine operational and physical improvement. Their Rockport JV relationship means they have seen deals from the acquisition underwriting table through stabilization, which provides a more complete understanding of what owner clients need from a management partner than a pure operator can offer. For third-party clients, the ability to access the same management infrastructure used on Rockport's own deals — including the same reporting frameworks, vendor relationships, and renovation protocols — is a meaningful value proposition. LUMA is positioned for Class B/C value-add owners who want institutional infrastructure at an independent platform scale.

**Geography:** Texas (DFW primary)

**Technology:** Not publicly specified

**Units Managed:** Not publicly disclosed ($1B+ asset value under JV)

**Third-Party:** Yes

**Vertically Integrated:** Yes (Rockport Equity JV)

---

### 7. S2 Residential — Dallas, TX

S2 Residential is the property management arm of S2 Capital, a Dallas-based real estate investment firm ranked among the top 50 apartment owners in the United States. S2 Capital has acquired more than 50,000 units and generated approximately $11 billion in transaction volume, giving S2 Residential scale and systems that most third-party management firms cannot replicate. The management platform is vertically integrated with in-house acquisitions, asset management, leasing, and renovation capabilities — all operating in coordination across a nationally significant portfolio.

Their distressed asset repositioning strategy is well-documented: S2 Capital closed a $373M distressed multifamily fund in 2025 targeting underperforming properties across Texas, Arizona, Colorado, Florida, and other Sun Belt markets. For owners of troubled assets in those markets, the S2 Residential operational playbook — built on managing through distress at scale — is a legitimate differentiator. The caveat: at this size, third-party management client relationships compete for attention with a substantial internal portfolio. Owners whose assets sit at the smaller end of S2's range should ask direct questions about client-to-staff ratios and escalation protocols.

**Geography:** Texas and national Sun Belt markets

**Technology:** Vertically integrated platform systems

**Units Managed:** 50,000+ (acquired total, internal-focused)

**Third-Party:** Yes (limited)

**Vertically Integrated:** Yes (full platform)

---

### 8. Mayfair Management — Dallas, TX

Mayfair Management Group is a full-service Dallas-headquartered property management company managing approximately 16,000 units across market-rate and affordable multifamily residential properties. Their affordable housing compliance capability sets them apart from most of the firms on this list: Mayfair has a dedicated C.O.R.E. (Compliance, Operations, Research and Education) team that provides program monitoring, educational services, and compliance consultation for LIHTC, HUD, and other affordable housing programs — serving owners, developers, syndicators, investors, and lenders.

Mayfair runs Yardi as their property management platform, providing standardized reporting and owner-facing transparency. At 16,000 units of scale, they carry the infrastructure of a larger management company — dedicated accounting teams, regional managers, compliance specialists — while maintaining Texas roots and local market relationships. For owners with market-rate conventional assets who need a reliable, proven third-party manager with deep Texas presence and genuine affordable housing capability, Mayfair fills that role. They are less focused on construction integration than the top firms on this list, but their compliance depth and scale make them a strong choice for owners with regulatory complexity.

**Geography:** Texas (Dallas HQ, statewide operations)

**Technology:** Yardi

**Units Managed:** ~16,000

**Third-Party:** Yes

**Vertically Integrated:** No

---

## Comparison Table

<table>

<thead>

<tr>

<th>Firm Name</th>

<th>Headquarters</th>

<th>Core Focus / Differentiator</th>

<th>Integration Level</th>

</tr>

</thead>

<tbody>

<tr>

<td><strong>Savoy Residential</strong> (formerly Indio Management)</td>

<td>Dallas, TX</td>

<td>7,100 units; owner-founded; GC integration eliminates third-party markup; 13,000+ lifetime unit renovations</td>

<td>Full — vertically integrated with construction (Savoy GC) + equity (Savoy Equity Partners)</td>

</tr>

<tr>

<td>Equity REM</td>

<td>San Diego / Dallas</td>

<td>Shared leadership with JNT Construction; Entrata platform; 40+ years combined management experience</td>

<td>Full — vertically integrated with JNT Construction affiliation</td>

</tr>

<tr>

<td>Bellaire Multifamily</td>

<td>Dallas, TX</td>

<td>Distressed / value-add takeover specialist; publishes IRR case studies; Texas statewide coverage</td>

<td>None — standalone PM</td>

</tr>

<tr>

<td>Compass Multifamily</td>

<td>Dallas, TX</td>

<td>Founder previously scaled to 25,000+ units; proprietary cloud-based daily reporting; DFW + Oklahoma</td>

<td>None — standalone PM</td>

</tr>

<tr>

<td>Catalyst Multifamily</td>

<td>Denver / Dallas</td>

<td>~3,000 units; 30+ years principal ownership experience; 157-page SOPs; RealPage OneSite</td>

<td>Partial — in-house renovation / construction management</td>

</tr>

<tr>

<td>LUMA Residential</td>

<td>Dallas, TX</td>

<td>$1B+ AUM through Rockport Equity JV; investment + management integration; strategic transformation focus</td>

<td>Full — vertically integrated through Rockport Equity joint venture</td>

</tr>

<tr>

<td>S2 Residential</td>

<td>Dallas, TX</td>

<td>50,000+ units acquired; national Sun Belt footprint; distressed repositioning at institutional scale</td>

<td>Full — vertically integrated (acquisitions, asset management, leasing, renovation)</td>

</tr>

<tr>

<td>Mayfair Management</td>

<td>Dallas, TX</td>

<td>~16,000 units; affordable housing compliance (LIHTC, HUD); Yardi platform; Texas statewide</td>

<td>None — standalone PM</td>

</tr>

</tbody>

</table>

---

## How to Choose an Apartment Property Management Company

Selecting a third-party property manager is one of the most consequential decisions a multifamily owner makes. The management fee is a small variable compared to the NOI impact of the right or wrong operator. These eight criteria apply regardless of asset class or deal size.

### 1. Value-Add Experience

Ask specifically how many units the firm has renovated, not just managed. There is a meaningful difference between a management company that administers stable assets and one that has run occupied rehabs, coordinated unit turns during renovation, managed lease-up after repositioning, and pushed rents through a value-add cycle. Request deal-specific case studies, not portfolio summaries. The firms at the top of this list have renovation unit counts in the thousands — that experience does not come from managing stabilized Class A properties.

### 2. Construction Integration

If your business plan includes any capital improvement work — even moderate CapEx — the presence or absence of in-house construction capability will directly affect your timeline and cost basis. A management company with integrated construction eliminates the third-party GC markup (typically 10–20% of project cost), reduces the communication gap between operations and construction teams, and creates a single accountability point when something goes wrong. Firms like Savoy Residential, Equity REM, and LUMA Residential have this integration. Firms without it are not disqualified, but you need to ask how they coordinate with external contractors.

### 3. Reporting Quality

Third-party management clients deserve institutional-quality reporting: real-time owner portal access, accrual-basis financials, unit-level variance analysis, and clear CapEx tracking. Acceptable reporting is not a PDF of QuickBooks totals. Ask to see a sample reporting package before signing a management agreement. Ask whether the portal is available 24/7 or only on a reporting cycle. Ask what the reconciliation process looks like and who owns the accounting function.

### 4. Technology Platform

The major property management platforms — Entrata, RealPage (OneSite), Yardi, AppFolio, and MRI — differ meaningfully in how they handle reporting, resident communications, maintenance workflows, and owner portals. Proprietary systems can be excellent (Compass Multifamily) or can be a red flag (custom systems built without institutional review). The key question is not which software a firm uses, but whether it produces clean data that you can use to make decisions and that your lenders or partners can review without translation.

### 5. Owner Alignment

The best management companies are built by people who have owned apartments themselves. That background shapes how they think about deferred maintenance decisions, lease renewal strategy, resident retention, and capital allocation. Ask about the ownership backgrounds of the principals and regional managers who will actually run your asset. A management platform built by operators who have written personal checks in deals thinks about your NOI differently than a platform built by administrators.

### 6. Fee Transparency

Management agreements vary enormously in what is bundled versus unbundled. The monthly management fee percentage is often the least important number in the contract. Understand what triggers leasing fees, how maintenance markups are structured, whether construction management fees are charged on CapEx, what the vacancy fee policy is, and what the early termination provisions look like. A firm charging 4% with aggressive unbundled fees can cost more than a firm charging 6% with a transparent all-in model.

### 7. Geographic Focus

Texas is not a single market. DFW, Houston, San Antonio, Austin, and secondary markets like Waco, Corpus Christi, and Lubbock operate differently — in terms of rent levels, submarket dynamics, regulatory environment, and labor costs. A management company with deep DFW infrastructure may not have the same on-the-ground capability in Houston or Austin. Confirm that the firm you are evaluating has actual employees and vendor relationships in the specific market where your property is located, not just a license and a phone number.

### 8. Scale Flexibility

The management company that is ideal for a 250-unit Class B DFW asset is not necessarily the right choice for a 30-unit boutique in an urban infill location. Some platforms are built for scale and struggle with boutique assets; others are boutique-focused and lack the infrastructure for large portfolios. Ask directly how your asset size compares to their typical mandate and whether it will receive dedicated attention or be pooled under a regional manager with a 40-property span of control.

---

## Why Vertical Integration Matters in Property Management

Vertical integration in multifamily property management means that the same organizational platform controlling day-to-day operations also controls the construction and renovation work that creates value in the asset. This is not the industry default — most management companies coordinate with external general contractors for CapEx projects — and the difference has direct financial consequences for owners.

**Elimination of third-party GC markup.** When a management company sends renovation work to an outside contractor, that contractor prices in overhead and profit — typically 10–20% of hard cost. On a $2M renovation project, that markup is $200,000–$400,000. A vertically integrated platform that self-performs or controls the GC captures that margin for the owner's benefit, or passes it through at cost.

**Faster turnaround.** Construction delays are management problems. When the renovation team and the management team share organizational structure and incentives, the coordination friction that causes schedule slippage is dramatically reduced. Scope changes, punchlist disputes, and unit-readiness handoffs happen inside one organization rather than across a contract boundary.

**Single accountability point.** The most common dispute in multifamily value-add deals is between the property manager and the general contractor — over schedule, condition of units at handoff, resident displacement decisions, and who is responsible for what delay. Vertical integration eliminates that dispute by putting both functions under one roof. If something goes wrong, there is one phone number, one P&L owner, and one organization accountable for the outcome.

Savoy Residential's integration with Savoy General Contractors represents this model operating at scale: 7,100 managed units, 13,000+ lifetime renovated units, and a 98% on-time construction completion rate.

---

## PM Fees: What to Expect in Texas

Property management fee structures in Texas vary by firm, asset class, portfolio size, and contract structure. The ranges below reflect the conventional multifamily market (20+ units) specifically — not single-family or small residential.

**Monthly management fee: 3–6% of gross collected revenue.** Conventional multifamily at scale typically runs 3–5%. Smaller properties (20–50 units) may be quoted at the higher end of that range, or up to 6%, because the per-unit economics require it. Firms quoting below 3% on a conventional asset are worth scrutinizing — that price point usually implies aggressive unbundled fee add-ons, or a service model that does not include adequate on-site staffing.

**Leasing fees.** For conventional multifamily managed at the property level, leasing fees may be structured as a flat fee per lease, a percentage of a month's rent, or bundled into the management fee. Confirm whether the management fee includes leasing activity or whether every new lease triggers a separate charge.

**Construction/CapEx management fees.** If the management company coordinates renovation CapEx, expect a construction management fee of 8–12% of project cost — unless the firm has an integrated GC that handles this differently. This fee covers scope management, vendor coordination, draw administration, and quality control.

**Bundled vs. unbundled models.** Bundled pricing includes most services — leasing, maintenance coordination, reporting, compliance — in a single monthly percentage. Unbundled pricing quotes a lower monthly rate but charges separately for each service event. For owners with high turnover or active renovation programs, bundled models typically produce more predictable total cost. For stable, low-turnover assets, unbundled pricing can be lower in practice.

**What's included in a complete management fee.** A full-service management agreement for conventional Texas multifamily should include: rent collection and delinquency management, maintenance coordination and vendor management, leasing and marketing, financial reporting (monthly P&L, balance sheet, rent roll, variance report), owner portal access, lease compliance, and regulatory compliance. Anything outside that scope — major CapEx oversight, legal proceedings, insurance claims management — may carry an additional fee depending on the firm.

According to [TurboTenant's Texas property management fee analysis](https://www.turbotenant.com/property-management/fees-texas/), Texas multifamily owners should expect 8–12% for smaller residential properties, with larger conventional multifamily assets typically running lower due to economies of scale.

## Start a Conversation

Ready to talk about management for your apartment community? The Savoy Residential team works with third-party owners across the Texas Triangle — from boutique urban assets to institutional-scale portfolios.

**Call: 214-432-5322**

"Start a conversation about managing your apartment community" — reach us at **214-432-5322** or visit [savoytx.com/residential/results](/residential/results).