A new trend signaling the modernization of the single-family property management industry. What was once all local ‘ma and pa’ businesses has become national-business platforms now designed for Wall Street backed banks and real estate investment funds.

SALT LAKE CITY, UT / August 15, 2023 / Inc. revealed today that Northpoint Asset Management, Inc. ranks No. 2,380 on the 2023 Inc. 5000 list, for the fourth consecutive year, of the fastest-growing private companies in America. The prestigious ranking provides a data-driven look at the most successful companies within the economy’s most dynamic segment-its independent, entrepreneurial businesses. Facebook, Chobani, Under Armour, Microsoft, Patagonia, and many other household name brands gained their first national exposure as honorees on the Inc. 5000.

Northpoint’s Chairman and CEO, John M. Laviter said about the ranking, “as we reach new heights in our ranking and continued growth it is incumbent upon Northpoint to maintain the same basic methods that brought our success in the first place. That means we resist the temptation to be lazy, but instead amplify hard work, a positive attitude – which is increasingly harder to do, use the most efficient best practices in our industry, and endeavor to operate at a world-class level which each member of Northpoint can be proud of.”

For as long as anyone living can remember, single-family property management has been a service offered by local ‘ma and pa’ type property managers – that has all changed in the last decade. Now, national single family non-franchised property management platforms driven by technology and centralized operations are dominating the space. Northpoint, together with industry peers like Home River Group, Evernest, and Pure, are racing to capture the opportunity to modernize the old property management model. It’s working. These national platforms now manage tens of thousands of single-family properties nationwide, many of which are owned by Wall Street backed real estate investment funds.

The Inc. 5000 class of 2023 represents companies that have driven rapid revenue growth while navigating inflationary pressure, the rising costs of capital, and seemingly intractable hiring challenges. Among this year’s top 500 companies, the average median three-year revenue growth rate ticked up to an astonishing 2,238 percent. In all, this year’s Inc. 5000 companies have added 1,187,266 jobs to the economy over the past three years.

For complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, location, and other criteria, go to www.inc.com/inc5000. The top 500 companies are featured in the September issue of Inc. magazine, available on newsstands beginning Tuesday, August 23.

“Running a business has only gotten harder since the end of the pandemic,” says Inc. editor-in-chief Scott Omelianuk. “To make the Inc. 5000-with the fast growth that requires-is truly an accomplishment. Inc. is thrilled to honor the companies that are building our future.”

Tyler Hartle, Vice President of Personnel states, “for the fourth consecutive year, Northpoint secured its spot on the prestigious Inc. 5000 list, a testament to its remarkable growth trajectory. This achievement is credited to Northpoint’s unwavering commitment to foster a down-to-earth and uplifting culture, which forms the backbone of the Northpoint’s continued success.”

Read the full press release here.