Multifamily is a different business than single-family rental. It's operated — not just managed. Leasing is continuous, not episodic. Maintenance is shared-system and preventive, not one-property-at-a-time. The numbers are NOI-driven and the reporting has to be built to match. Lockwood Property Management operates small-to-mid multifamily properties across DFW with that operational mindset.
We work across Tarrant, Dallas, Collin, and Denton Counties — covering DFW's multifamily sub-markets from urban infill to suburban garden communities to workforce-housing neighborhoods.
Who We Manage For
Private Owners & Family Partnerships
Owners who bought the building themselves — directly, through a family partnership, or through a small-investor syndication — and want professional operations without paying institutional overhead.
Small Investor Groups
LLCs, small syndications, and joint ventures. We handle investor-style reporting and communicate on the cadence your capital partners expect.
Inherited & Long-Held Properties
Buildings that have been in the family for decades and need fresh operational discipline. We can lift occupancy, bring rents to market without disrupting good residents, and modernize systems without changing the character of the property.
Value-Add Acquisitions
Buildings being repositioned — renovations, rebranding, re-tenanting, or operational turnaround. We build a plan, execute the turn, and stabilize.
Full-Service Multifamily Management
Leasing & Occupancy
Continuous marketing — Apartments.com, Zillow, Trulia, Facebook Marketplace, Google, and local referral channels. Professional photography and floor plans. Showings scheduled promptly. Applicant screening on every adult occupant. Lease execution on our standard Texas multifamily lease or a custom form if you prefer.
Rent Collection & Delinquency
Online rent collection through the resident portal, ACH and card payments, automatic late fee enforcement. Delinquency tracked daily. Texas Property Code notices sent on the exact schedule required. Evictions handled in-house with licensed counsel on contested matters. We don't let delinquency accumulate.
Maintenance & Capital Planning
On-demand maintenance via the resident portal. Preventive maintenance on HVAC, plumbing mains, life-safety systems, and common areas on a documented schedule. Turnovers handled on a standardized scope so make-ready timing stays tight. Capital planning for roof, parking, major mechanical, and community amenity replacement — with lead time, not emergencies.
Staffing
Depending on unit count and owner preference, we can operate remotely with roving leasing and maintenance visits, or we can recruit, onboard, and supervise full on-site staff. Payroll, benefits administration, and HR compliance can be run through our back-office or handled by the owner.
Resident Experience & Retention
Turnover is the single biggest lever on multifamily NOI. We manage it aggressively: prompt maintenance, accessible communication, fair renewal terms, and a community that residents want to stay in. Renewal conversations start 60–90 days out, not the week the lease ends.
Compliance & Risk
Fair Housing training for all leasing staff. Texas Property Code compliance on leases, notices, security deposits, and smoke detector/life-safety requirements. Accurate record-keeping for any fair-housing or regulatory inquiry. Insurance coordination with owner's carrier.
Financial Operations & Reporting
Monthly operating statements with NOI, occupancy, collections, and variance to budget. Detailed rent roll. Delinquency and aging report. Maintenance activity log. Year-end reporting packaged for tax prep. Real-time owner portal access between monthly reports.
Get a Multifamily Operations Review
Send us basics on your property — unit count, current occupancy, current management structure — and we'll send back a realistic assessment and a written management proposal.
Call (817) 332-7368 Request Proposal OnlineWhat We Don't Do — and Why That Matters
We're not an institutional manager. We don't operate Class A high-rise towers, we don't run national portfolios, and we don't layer in third-party asset management. What we do is operate small-to-mid DFW multifamily with hands-on attention and direct owner communication. That means:
- The person you talk to at intake is the person managing your building.
- Decisions that would bounce through three layers at a big shop get made the same day here.
- Our systems scale to your portfolio — not the other way around.
If you need 1,000-unit institutional management, we'll refer you to the right firm. If you have a 24-unit building in Arlington or a 60-unit community in North Richland Hills, this is exactly the kind of work we do.
DFW Sub-Markets We Serve
- Tarrant County — Fort Worth, Arlington, North Richland Hills, Haltom City, Hurst, Bedford, Euless, Mansfield
- Dallas County — Dallas, Irving, Garland, Mesquite, Grand Prairie, Carrollton, Richardson, DeSoto
- Collin County — Plano, Frisco, McKinney, Allen
- Denton County — Denton, Lewisville, Flower Mound, Little Elm, The Colony
Frequently Asked Questions
What size multifamily properties do you manage?
Small-to-mid multifamily: generally 5 to 100 units. We don't manage institutional-scale Class A high-rises or single-unit rentals as apartments — we focus on the in-between, where local ownership and hands-on operation make the biggest difference.
How is multifamily management different from single-family?
Multifamily operations are about occupancy at scale — continuous marketing, staggered renewals, shared-system maintenance, common-area management, resident community issues, and NOI-driven reporting. The operational cadence is different from single-family, and we build staffing, vendor, and system relationships around those needs.
Do you handle on-site leasing and maintenance staff?
Yes — when the property size justifies it. Depending on unit count and owner preference, we operate remotely with roving leasing and maintenance, or we recruit, hire, and supervise on-site staff. Staffing scope is set in the management agreement.
How do you approach resident retention?
Prompt maintenance, responsive communication, reasonable renewal terms, and genuine community management. Turnover is the biggest hidden cost in multifamily — we treat retention as a core operational metric. Renewal conversations start 60–90 days before lease end, not the week of expiration.
What reporting do multifamily owners receive?
Monthly operating statements with occupancy, collections, expense detail, and variance against budget; full rent roll; delinquency and aging report; maintenance activity; and year-end tax-ready reporting. Owner portal access provides real-time visibility between monthly reports.
Can you take over a distressed or underperforming property?
Yes. Turnarounds, lease-ups on new construction, and stabilization of value-add acquisitions are part of what we do. We'll walk the property, build an operating plan, set milestones, and execute against them.
How do pricing and management fees work for multifamily?
Multifamily pricing is typically structured as a percentage of collected rent or a per-unit fee, with leasing fees or renewal fees set separately. Exact structure depends on unit count, condition, and scope of services. We'll quote in writing after reviewing the property.