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Property management companies take on the daily stresses of commercial and investment real estate management on behalf of owners. Because different localities and property types are governed by different regulations, codes, and laws, a property management company can be essential for most landlords. The best property management companies aim to ensure the profitability, good reputation, building upkeep, and tenant occupancy of a residential or commercial investment property. They also keep owners updated on the key performance metrics of their real estate assets.
To compile this list of the best property management companies, we reviewed 18 companies and rated them based on services, cost structure, reporting capabilities, communication with owners and tenants, and more.
Best Property Management Companies of 2023
- Best Overall: Greystar
- Best for Residential Properties: BH Management Services
- Best for Commercial Properties: Colliers International
- Best for Customer Service: Lincoln Property Company
- Best Onboarding System: Apartment Management Consultants
- Best Value: Buildium
- Best for Environmental Programs: Winn Companies
- Best for Vacation Rental Management: Vacasa
Best Overall : Greystar
- Property Type: Residential and commercial
- Costs: Setup, monthly fee, and others based on service needs
- Online Portal: Yes
Greystar, our overall best choice for a property management company, supports property owners across the globe with its “Beyond Expectations” belief in service. It offers a wide range of valuable services and follows a disciplined, process-driven approach to increase efficiencies, reduce investor risk, and drive performance and profitability. The Greystar Investor Portal allows owners to monitor their properties’ performance metrics and view real-time reports on accounting and financial management, marketing and reputation management, and legal and regulatory compliance.
Staff trained to “think like an owner”
Ranked first in the National Multifamily Housing Council 50 Largest Apartment Managers
Apartment leasing site for prospective tenants keeps occupancy high
Online portal for investor-owners
Must negotiate a variety of fees
* Source: National Multifamily Housing Council
Founded in 1993 and headquartered in Charleston, South Carolina, Greystar has grown into 227 markets globally, with $26 billion in global development assets.
The company offers end-to-end property management services, such as:
- Property operations
- Financial services
- Master insurance programs
- Training and education
- Marketing and communications
Greystar specializes in managing active adult communities, multifamily properties, collegiate housing, and flexible corporate housing.
Greystar’s fees for their property management services will depend on the type and size of the property, its condition and location, and the extent of services that you need. Aside from the monthly management fee and initial setup fee, you’ll also negotiate fees for tenant placement, vacancy, eviction, early termination, and maintenance, among others.
Best for Residential Properties : BH Management Services
- Property Type: Residential
- Costs: Setup, monthly fee, and others based on service needs
- Online Portal: Yes
Our choice for best property management company for residential real estate is BH Management Services. The company has an extensive range of residential properties under management across the U.S. It also offers innovative, industry-renowned programs that promote financial and environmental sustainability, like Smart Home Technology and Green Conservation. BH Management Services will coordinate customized business intelligence and revenue management reporting so that you can monitor and maximize your property’s performance.
Smart Home Technology
Green Conservation program
Manages A, B, and C class properties
Website could provide more services information to prospective property owners
Manages only residential properties
With offices in Des Moines and Dallas, BH Management Services has been managing properties across the U.S. since 1993. It has approximately 2,500 employees and can be hired even in states where it doesn't yet have a presence.
The company offers services related to architecture and design, construction, equities, and management. It provides owners with accounting, operations, marketing, IT, business intelligence services, and reporting services. The company hires and trains local management staff for your property.
The company only manages residential real estate properties. Its Smart Home Technology program promotes buzz about properties in their respective areas. The Green Conservation program creates healthy buildings and attracts further attention.
BH Management Services doesn't discuss specific fees until it's engaged by a prospective owner to discuss the scope of services for a specific property. However, the size of the property, building class, and scope of services you negotiate will impact your cost. The breakdown of these fees may include the initial setup fee, monthly management fee (flat fee or percentage of rent collected), tenant placement fee, and marketing and lease-up costs.
The online resident portal is available for the convenience of making rental payments and renewing leases.
Best for Commercial Properties : Colliers International
- Property Type: Commercial
- Costs: Percentage of rents, property size and location, and others based on service needs
- Online Portal: Yes
With two billion square feet under management and one of the broadest service offerings, Colliers International is a world-class commercial property management company. The company manages commercial properties in 65 countries, has annual revenue of $4.5 billion from its $98 billion in assets under management, and more than 18,000 professionals on staff. Its experience and proven profitability results make it our recommended choice for the best property management company for commercial properties.
Real-time reporting for owners
Financial reporting and analysis to ensure your asset is profitable
Strong focus on adding value to your property with capital projects
In-house engineering team that measures and optimizes your building’s key performance indicators
Less emphasis on sustainability than some competitors
Broad scope of building types may be a challenge for deep expertise in any one niche
Publicly traded, so shareholders are part of the priority mix
Established in Australia and expanded into the U.S. in the 1980s, Colliers has become a household name. Of the 65 countries where it operates, the U.S. is the biggest contributor to the business.
The company has expertise in capital markets, landlord representation, project management, real estate management services, valuation and advisory, securities, mortgage, insurance, engineering, and design.
Colliers International is highly specialized in commercial property types such as office, retail, industrial, hotels, healthcare, special purpose, and multifamily. Property management services include building operations and maintenance, facilities management, lease administration, property accounting and financial reporting, contract management, and construction management.
Property management fees are typically calculated as a percentage of the rent collection, and the full scope of your costs will be negotiated in the specific proposal Colliers brings to the table. Location, property size and occupancy, and which services you need will dictate your contract costs.
The company launched multiple technology platforms for its owners. One of these is Neighborhood Curated by Colliers, which centers on real-time use of information, cybersecurity, and community staffing. The other is Colliers360, which provides in-depth portfolio analysis.
Best for Customer Service : Lincoln Property Company
- Property Type: Residential
- Costs: Setup, monthly fee, lease renewal, and others based on service needs
- Online Portal: Yes
The Lincoln Property Company prioritizes customer service so much that it created its own awards program. The company views its investors, residents, vendors, and employees through a lens focused on client care and recognition. This makes Lincoln Property Company our top choice for a stellar customer service experience.
Second-largest apartment management company in the U.S.
Manages 36,000 homes for those in military service
Certified as Service Organization Control (SOC) compliant
Management is highly centralized and regulated
Currently manages properties in only 27 states
Honing its customer service since 1965, the Lincoln Property Company has a proven success record, acquiring more than $6 billion in multifamily projects and developing 220,000 units worth more than $14 billion.
Beyond its traditional residential property management services, Lincoln also stands out for its Service Organization Control compliancy. This ensures that the buildings it manages meet independent, third-party standards in management, accounting, and IT.
Costs vary per contract but typically include setup, management, new tenant placement, and lease renewal fees.
Lincoln provides owners with property management, marketing, accounting, purchasing, revenue management, and market analysis reports. The company’s business intelligence tool for owners, called propertyBI, is web-based and mobile-compatible.
Best Onboarding System : Apartment Management Consultants
- Property Type: Residential multifamily
- Costs: Setup, monthly fee, maintenance, and others based on service needs
- Online Portal: Yes
We named Apartment Management Consultants (AMC) as the property management company with the best onboarding system because of its intense focus on documenting its management plans and its exceptional property manager training programs. Onboarding is most effective, efficient, and beneficial for owners when systems are highly accessible and continuous learning is a part of the job for new property managers. No property management company does this better than AMC.
Extensive monthly reports
Handles all the property's banking for owners
Preferred vendor program provides better quality and cost savings
Allows owner feedback on regional employees and who manages properties on a local level
Operates mostly in the West and Midwest, so it may be difficult to arrange management on the East Coast
Geared to manage larger properties
AMC manages over 135,000 units over 800 properties across 29 states. Clients include private equity firms, institutional investment firms, and single asset owners. The company ranked sixth on the National Multifamily Housing Council’s list of largest apartment managers in the United States in 2022.
AMC serves residential multifamily owners with the following services:
- Capital budgeting
- Project management
- Training programs
- Accounting and banking
The onboarding process includes a financial statement review, market reviews, capital improvements, physical condition reports, and an overall monthly summary of operations. Owners can access real-time property performance information online.
The company goes into impressive depth with over 10 different reports available.
Costs are negotiated and customized but most include a setup fee, fees to lease out vacant apartments and tenant renewals, as well as management and maintenance fees. Location, property size, and the condition of the building will influence your proposed contract costs.
Best Value : Buildium
If you’re on a tight budget that prices the bigger property management firms out of reach, consider Buildium, our choice for best value. Buildium is an innovative software company that offers owners rental property management software for their property management needs. Its goal is to put at your fingertips the technology that can simplify your property management life. If you require more help, you can use Buildium to monitor your property's performance and hire a local property manager to do site work as needed.
Free trial available
A wide range of products and services
Tiered membership plans to suit your needs
All-inclusive reporting library to monitor virtually every aspect of your investment
IT-driven company that may confuse people used to brick-and-mortar operations
Live phone support is not automatically available
Buildium was founded by two property managers in Rhode Island in 2004 who simplified their tasks by developing software to handle them. Now headquartered in Boston, Buildium has more than 14,000 customers and has appeared on the Inc. 5000 list for multiple years. Buildium is a great fit for residential properties related to community associations, student housing, affordable housing, and more.
Every price plan comes with accounting, maintenance, tasks, violations, resident and board member communications, and online portals. Other top features include a free marketing website, new client leads, property inspections, tenant screening, eLeases, online payments, reports, and support.
Reports cover accounting, operations, and leasing in a wealth of specific sub-categories, all with an online and mobile user interface for the owner. You can even give your local property manager access to your account to further enhance efficiencies and reporting accuracy while minimizing your effort.
- Essential, starting at $52 per month
- Growth, starting at $166 per month
- Premium, starting at $479 per month
Best for Environmental Programs : Winn Companies
- Property Type: Residential and commercial
- Costs: Contact company
- Online Portal: Contact company
Winn Companies has the best environmental programs of any property management company that we reviewed and is our top pick for the category. From returning discounts on utility bills to providing green financing, Winn spends millions every year to bring communities clean energy as it follows the U.S. Green Building Council's LEED for Existing Buildings and provides new sustainable builds.
A strong community focus
Commitment to sustainability
Utility savings with programs like community solar
Environmental focus may not be cost-effective for new property owners
Pricing is not transparent until you enter negotiations
No standard online platform for owners
Established in the 1970s, Winn saw the potential for sustainable, affordable housing and now provides property management for affordable housing, the military, commercial, and luxury residential developments. The company is able to manage properties nationwide but currently manages in 23 states and Washington, D.C.
Winn ensures that properties are maintained to the highest environmental and community standards. Serving both commercial and residential properties, Winn can manage a wide range of building types.
Winn provides operations, maintenance, leasing, and financial services. Its environmental expertise adds further value to the buildings it manages. For example, in addition to solar programs and other energy retrofits, Winn strives to improve building system efficiencies like mechanical, lighting, building envelope, insulation, air sealing, boilers, ventilation, air conditioning, and water conservation.
Fees are covered in its confidential proposals to property owners.
Winn provides reporting on a wide range of items. For affordable housing clients, Winn will do monthly audits as needed to ensure compliance and minimize risk. There is no standard online platform that owners can use to monitor their properties, but one may be customized, if requested.
Best for Vacation Rental Management : Vacasa
Providing vacation rental management in 35 states (as well as Canada, Mexico, Belize, and Costa Rica), Vacasa is the premier North and Central American vacation rental management company. Its geographic coverage and specialized expertise in its field make it the hands-down winner in this niche. Vacasa understands the nuances of vacation property management better than other company.
Industry-specific management for vacation rentals
500,000-plus five-star reviews
Provides 3D tours of its properties to help fill vacancies
No scope outside of this industry
Does not service many central states
Vacasa was started in 2009. Founder and vacation property owner, Eric Breon had struggled to find a property manager that could offer a professional rental experience for his vacationers and turn in a strong financial performance for his property. Today Vacasa has 35,000 vacation homes under management serving three million guests each year.
Vacasa offers a full package of services for your needs in the residential vacation home industry. It includes cleaning, financial records, 24-hour local guest support, 3D online home tours, professional writing and photography, streamlined reservation management, and thorough housekeeping after every stay.
Costs depend on a number of factors. However, Vacasa promises one fee for all essential services. It has a “no nickel-and-diming” policy and has sworn off hidden fees.
Unlike other property management companies, Vacasa addresses costs and fees in detail. It explains its guest-facing fee structure and what contributes to your customized owner management fee (such as assisting owners with vacation rental permitting, public relations, and social media).
Owners also can stay on top of their homes’ financial reporting and bookings using the online homeowner portal.
Greystar is our choice for the best overall property management company because it services both residential and commercial real estate and it excels at end-to-end property management processes plus financial, operational, and market analysis reporting. In addition, its “Beyond Expectations” service motto reflects the top-quality service it provides owners, tenants, staff, and vendor partners.
Compare the Best Property Management Companies
|Company||Wins For||Key Strengths|
|Greystar||Best Overall||Proprietary "Beyond Expectations" customer service; extensive 24/7 reporting for owners; broad reach|
|BH Management||Best for Residential Properties||Smart home technology and green conservation programs|
|Colliers International||Best for Commercial Properties||18,000 professionals trained to add value to properties|
|Lincoln Property Management||Best for Customer Service||Created their own awards program; propertyBI business intelligence tool|
|Apartment Management Consultants||Best Onboarding System||Extensive process documentation and ongoing training; highly trained staff with low turnover rate|
|Buildium||Best Value||Property management software that can save you money with online automation|
|Winn Companies||Best for Environmental Programs||Funds many of its building upgrades with the savings it realizes from energy conservation retrofits|
|Vacasa||Best for Vacation Rental Management||An expert in the niche of managing the tenants, homes, and NOI for vacation rental properties|
Frequently Asked Questions
How Do I Choose a Good Property Management Company?
First, you’ll want to look for a company with a good reputation in the market. It should have clearly explained management fees and contract details. Stick with management companies that have the proper licenses and insurance to manage in your state with specialized experience in your location. The company you choose should have clear protocol of where to go if you have any issues.
How Much Should a Property Management Company Charge?
The industry standard for property management fees is between 8% to 12% of the monthly rents collected. Are you asking the property management company to handle the legal arrangements, evict the tenant, clean and prep the unit, advertise the vacancy, and screen potential new tenants? Any services that you require from the company will also influence and increase costs.
Is a Property Management Company Worth It?
For most landlords, it is not only worth it, it’s necessary. The many laws and maintenance responsibilities of owning and leasing a property are often too complex or time consuming for an investor to handle on their own. The expertise and professionalism needed when dealing with tenants, as well as the trade skills to keep the rental in good operating function, are well worth the 8% to 12% of collected rent payments (additional fees may apply).
What Is the Biggest Property Management Company?
Greystar is the largest property management company. It handles approximately 700,000 properties.
What Is the Most Challenging Part of Property Management?
As an owner, one of the most challenging aspects is finding the time to manage all the tasks that property management involves. Some of these tasks include finding and hiring the right people to help you, finding and retaining high quality tenants, handling complaints, making repairs, and doing the accounting. Having a property management company take care of all these needs (and more) can be a smart move for owners.
We reviewed 18 property management companies to bring you the best options nationwide. While some high-quality companies offer property management services in small regions, we only chose companies that cover most of the United States and can serve the broadest range of readers.
The key factors in which our category winners needed to excel were company reputation, range of services offered, and how well they make it possible for the property owner to monitor performance through reports and online dashboards. While savvy property management companies do not price their work until they have a full understanding of the services the owner wants them to perform, we did outline what the company will charge for, and where possible, we offered a range.
Greystar. "The Greystar Story."
BH Management Services. "Contact Us."
BH Management Services. "Our Expertise."
BH Management Services. "Careers."
Colliers. "The World of Colliers."
Colliers. "Our History and Major Milestones."
Lincoln Property Company. "LPC Residential Today."
Lincoln Property Company. "This Is Our Company."
Apartment Management Consultants, LLC. "About Us."
Apartment Management Consultants, LLC. "We Are Apartment Management Consultants," Page 2.
National Multifamily Housing Council. "2022 Top Managers List - NMHC."
Apartment Management Consultants, LLC. "We Are Apartment Management Consultants," Page 13.
Buildium. "About Us."
Winn Companies. "Winn Green."
Winn Companies. "Who We Are."
Vacasa. "About Vacasa."
Vacasa. "Vacation Rental Management Fees."
All Property Management. "A Guide to How Much Property Managers Cost."