13 Best Property Management Companies of 2023
Discover the best property management companies to streamline your property management and generate more profits.
BH Management Services
Property management companies help property owners manage their commercial and residential properties effectively.
The best property management companies serve as property managers. They help asset owners collect rents, handle maintenance requests, market and retain tenants, and increase the profit and value of their residential and commercial properties.
This article will examine 13 of the best property management companies based on their real estate expertise, reputation, customer reviews, types of properties managed, and other services.
Best Property Management Companies of 2022
Here are our top picks for the best property management companies for property owners in 2022.
- BH Management Services
- Colliers International
- Lincoln Property Management
- Apartment Management Consultants
- Franklin Street
- Cushman & Wakefield
- Equity Residential
I recommend Greystar Real Estate Partners because of the end-to-end property management services it offers property owners. Greystar helps me conduct market research, manage properties, and provide financial reporting services. Check out this company if you plan to improve your property operations and enjoy more profitability.
Greystar is one of the best property management companies that serve 221 markets globally, 2,688 communities, and over 754,000 units and beds under management.
- Service Delivery: Greystar’s company culture focuses on providing satisfying commercial real estate management services for property management firms and property owners.
- Asset Management: With over $30 billion in real estate assets under management, Greystar brings deep expertise in the global real estate market to manage properties for its clients. Greystar Real Estate Partners is the largest property management company in the United States of America, with over 754,000 units and beds under management.
- Construction Management: The focus of Greystar’s services is on managing properties for property owners, such as rental properties, student housing, community associations, single-family homes, multifamily properties, and active adult communities.
- Reporting: Greystar provides financial reporting services for its clients, such as financial statements and legal and regulatory compliance documents.
- Real-time Tracking: Investors can view reports in real-time and monitor the performance of their properties through Greystar’s online portals for investors.
- The largest property management company in the United States and ranked as the top choice among 50 U.S apartment managers according to the National Multifamily Housing Council (NHMC)
- Top-notch customer service provided by well-trained staff
- Online portal for investors
- Availability of apartment leasing website to supply residential properties with tenants under its management
- Availability of onsite managers
- No properties in some states in the U.S, such as South Dakota, Maine, Rhode Island, Alaska, and Rhode Island
- Poor onboarding and training
Try out Greystar for your property management needs.
I love BH Management Services because of its innovative and attractive residential property management programs that include affordable housing solutions for students. Consider this property management firm if you are looking for residential properties.
BH Management Services is one of the top property management companies in the U.S, with a presence in 28 states and managing 330 multifamily communities and 106,000 multifamily units for property owners.
- Facilities Management: The star attraction of this property management firm is its innovative and attractive water and energy conservation programs like Green Conservation and Smart Home Technology.
- Revenue Management: With over 24,000 employees, BH Management Services is suitable for managing your residential properties. You get a property manager who handles tenant screening, lease agreements, rent collection, and other accounting needs.
- Construction Management: BH Management Services provides only residential real estate properties. The company offers architecture and design, and construction services to building owners.
- Provides healthy buildings through its Smart Home Technology and Green Conservation programs
- Top-notch customer service with a highly trained team
- Provides data-backed decisions with insights from BH Fusion
- Extensive portfolio of residential properties, such as multifamily apartments, student housing, and single-family build-to-rent
- Lack of transparency in benefits and pay
- Complaints of poor response to service requests
Try BH Management Services for your residential property management needs.
I recommend Colliers International because of how efficiently it handles all facets of my real estate properties. What I love the most about Colliers International is the provision of an experienced property manager that helps me manage my commercial properties. If you are looking for the best property management company for commercial properties, check out this company.
Colliers International is one of the best property management companies, with over two billion square feet of real estate.
- Tenant Management: With the best-in-class advisors, Colliers International helps property owners attract quality tenants and collect rental payments. Retaining quality tenants is easy thanks to the measures to ensure both short and long-term tenant satisfaction.
- Assets Management: Colliers International is one of the largest property management companies with active operations in 67 counties. With over $40 billion in assets under management and over 44 years of experience, this company's expertise and profitability make it an attractive option for old and new property owners.
- Commercial Property Expertise: As our recommended company for managing commercial properties, Colliers International specializes in managing different commercial property types such as rental property, retail, office, healthcare, industrial, and others.
- In-depth portfolio analysis with the Collier360 platform
- Real-time reporting for property owners
- Focus on maximizing value and tenant retention with capital projects
- Presence of skilled experts to track and optimize your building’s KPIs
- Broad coverage of building types makes deep expertise impossible to achieve
- Lack of focus on residential properties
Try Collier International for your commercial property management needs.
I love the most about Lincoln Property Management because of its excellent customer service. Consider using this company if you are looking for a property management solution with well-trained staff and a good support system for your properties.
Lincoln Property Management Company is one of the best property management firms with over 220,000 units of single-family homes and multifamily projects and currently overseeing $120 million in renovations.
- Experienced Property Managers: Every employee at Lincoln Property company goes through intense screening to ensure only the best-qualified people become property managers.
- Customer Service: Lincoln provides clients with a top-notch customer service experience. Through its awards program, property owners select from the best award-winning properties on its website.
- Assets Management: As a property owner, ensuring your buildings meet up to regulatory standards can be tasking. Lincoln Property Company manages your properties and ensures your buildings meet up to compliance standards in accounting and management.
- Business Intelligence Tool: Every property owner’s primary real estate needs to monitor their properties effectively. Lincoln Property Company offers you a property management or business intelligence tool called propertyBI that helps you monitor your properties.
- Second-largest apartment management company in the U.S
- Numerous certifications, including being Service Organization Control (SOC) compliant
- Presence of a business intelligence tool (propertyBI) to help owners monitor their properties
- Stellar customer service
- Presence in only 34 states in the U.S
- Highly-centralized management
Try Lincoln Property Management Company for a stellar customer service experience.
I recommend CBRE because of the cutting-edge real estate technology solutions for managing my commercial and residential assets. Consider this company if you need an accounting and financial reporting software and a web-based management and leasing platform to manage your properties.
CBRE is a global leader in providing commercial real estate services and investments, boasting of over 105,000 clients in 100+ countries, 500 offices, 90+ of the Fortune 100 clients, and over 2.7 billion square feet of commercial space worldwide.
- Cutting-Edge Technology Solutions: As a property owner, CBRE provides you with accounting and financial reporting software, web-based management and leasing platform, and other cutting-edge technology solutions.
- Commercial Property Services: Owners and residents enjoy over 20 commercial property services, such as security planning, consulting, web-based management and leasing, accounting and financial report, tenant relations management, and others.
- Residential Project Management Solutions: CBRE doesn't just offer commercial property management services. You can enjoy a wide range of residential project management solutions, such as resident screening, marketing and advertising, concierge programs, customer service, staff training, and others.
- Offers a mix of commercial and residential property management services
- Offers occupier and investor services
- Over 100+ years of real estate experience
- Recognition for excellence in commercial building management and operations by Building Owners and Managers Association (BOMA)
- Deep market knowledge and global insights provided by over 500 global researchers
- Expensive service and maintenance fees
- Complaint about poor service
Try CBRE to manage your commercial and residential properties.
Best for Onboarding Properties
Apartment Management Consultants (AMC) is a top property management company with over 118,635 units and 676 properties located in 25 states of the U.S. According to the National Multifamily Housing Council (2020), AMC is the eighth largest apartment manager in the United States.
- Top-Notch Onboarding System: The onboarding system used by Apartment Management Consultants (AMC) is top-notch and focuses on documenting their property management plans. Through its top-notch property manager training programs, new property managers enjoy well-documented processes and continuous learning windows.
- Real-time and Detailed Reports: AMC offers owners over ten different reports, such as capital improvements, market reviews, physical condition reports, and a summary of operations.
- Capital Budgeting: Clients enjoy asset accounting services, including all asset management issues, freeing up time to spend on other activities.
- Top-notch training programs for both existing and new property managers
- Extensive monthly reports
- Real-time reports on its online portal
- Handles all your property’s accounting and banking
- Greater client control over who manages properties on a local level
- Focus on managing large properties
- It only covers 25 states in the U.S
Try Apartment Management Consultants (AMC) for well-documented property management.
Best Value for Budget
Buildium is a Boston-based property management software company with over 14,000 customers and multiple years of recognition on the Inc. 5000 list.
- Performance Monitoring: Owners can manage their properties from their dashboard thanks to its intensive tech features. You can use Buildium to manage and monitor your investment property and hire a local property manager.
- Reporting: Buildium provides reports on your communications and helps you market your vacant units or properties. From your dashboard, you get an overview of your rental listings, balance, tasks, maintenance requests, and others.
- Residential Housing Assets: Owners use Buildium to manage their residential housing assets, such as senior housing, student housing, affordable housing, community associations, and others.
- Mobile friendly property management software
- 14-day free trial
- Visible and affordable membership plans to suit your needs
- Extensive reporting library to monitor your properties
- Cluttered web page
- Poor live phone support
- Learning curve for people not used to using software to manage their assets
Try Buildium 14-day free trial to get started.
Best for On-site Management
Franklin Street is a property management company with $1,483,677,351 in 2021 transaction volume and is trusted by Paradise Ventures, America’s Reality, Fortress, Surterra Wellness, SteelBridge, University of Florida, Development Ventures, and others.
- On-site Management: One of the stand-out features that sets Franklin Street apart from its competitors is its excellent on-site training and career planning. On-site staff undergo dedicated training and support led by experienced executives.
- Real Estate Management: Franklin Street offers a wide range of real estate services such as property management, insurance services, project management, and landlord and tenant representation.
- Performance-Driven Solutions: Optimize your property performance with Franklin Street’s comprehensive property management solutions, such as finances and accounting, due diligence assistance, customized performance metrics, and strategic market insights.
- On-site training and support
- Manages different types of commercial and residential properties
- The company operates only in the Southeast region
Try Franklin Street for their quality on-site management.
Best for Specialty Properties
Jones Lang LaSalle Incorporated (JLL) is one of the best property management companies managing over 4.6 billion square feet in commercial property and facilities worldwide.
- Specialty Properties: JLL is an award-winning property management company that is a great fit for specialty properties such as sports stadiums, amusement parks, marinas, and self-storage facilities.
- Property Monitoring: Through its technology-based innovations, JLL helps clients track and assess every inch of their building management. JLL uses a facilities management platform (Corrigo) to automate many property tasks.
- Property Management: Manage every facet of your building with JLL real estate services. Clients can choose from a wide range of building management services, such as repair and maintenance and green building services.
- Uses an end-to-end facilities management platform (Corrigo)
- Good fit for managing a wide range of specialty properties
- Scalable services
- No room for managing residential properties
Try JLL for your specialty property needs.
Best for Environmental Programs
WinnCompanies is one of the best property management companies, with 121 million square feet of real estate under management.
- Affordable Housing: The company is the largest manager of affordable housing in the U.S, with a portfolio that includes commercial, luxury, and military residential developments. There are about 300 thousand people that live in Winn-managed properties.
- Environmental Programs: WinnCompanies has outstanding environmental programs that provide green financing for its properties. Every year, the company spends millions to bring clean energy to its managed assets, in line with the U.S. Green Building Council's LEED for Existing Buildings.
- Commitment to sustainable environmental programs
- Monthly audits to ensure compliance and minimize risks
- Savings on utility with efficient community solar programs
- Lack of transparent pricing
- Presence in 11 states
- Not so cost-effective for new owners
Try WinnCompanies for its attractive environmental programs.
Best for Commercial and Residential Real Estate Assets
Cushman & Wakefield is one of the largest property management companies, with over 50,000 team members in 60 countries and a revenue of $9.4 billion in 2021.
- Multi-Dimensional Team: Enjoy the best asset management team to manage your properties. You get integrated teams of property and project managers, accountants, and engineers to help you minimize costs.
- Strong Tenant Relationships: Relationships between clients and tenants are crucial for managing a successful property. The company helps you attract the best tenants and build strong relationships with them.
- Commercial and Residential Assets Management: Cushman & Wakefield manages over 700 million sq ft of commercial properties. With its acquisition of Pinnacle, Cushman & Wakefield manages over 169,000 units across 839 properties.
- Real Estate Expertise: Enjoy a wealth of experienced staff to oversee your day-to-day property operations, such as property improvements and maintenance, finances and expenses, reporting, and leasing and retention.
- Custom property management application for residents and owners
- Deep market expertise with over 100 years of experience
- Scalable property management services
- It covers just 21 states in the U.S
- Does not support the use of local suppliers
Try Cushman & Wakefield for integrated commercial and residential property management.
Best for Large Market Properties
Equity Residential is one of the largest apartment property management providers in the U.S, with over 78,000 apartment units under management.
- Large Market Properties: Managing urban and large residential properties is the focus of Equity Residential. The company boasts of owning large market properties in the major cities in the U.S, including New York, Washington D.C., San Francisco, Boston, Denver, and Seattle.
- Local Management Expertise: Despite being a large project management company, Equity Residential has the local management expertise and resources to handle all types of residential properties.
- Well-trained Employees: Equity Residential trains its employees in property and project management to ensure all its property managers have the expertise to manage large-scale residential properties. This company offers leadership development and education programs, including a 14-week maintenance apprenticeship program.
- Excellent customer service with over 50 years of experience
- Focuses on large U.S. markets
- Offers urban and high-density suburban residential properties
- Offers discounts for employees
- No commercial management services
Try Equity Residential for your large market properties.
Best for Vacation Rental Management
Vacasa is one of the best property management companies that manages over 35,000 homes and 3 million guests per year in 35 states in the United and other locations such as Costa Rica, Mexico, Canada, and Belize.
- Vacation Rental Management: This North and Central American property company provides clients with excellent vacation rental property services. With specialized expertise in the vacation rental niche, Vacasa is the best choice if you want to rent or own vacation properties.
- Property Management: Vacasa offers you cleaning services, thorough housekeeping, 3D online home tours, four-hour local guest support, and financial records for your vacation rental properties.
- Homeowner Portal: Vacation homeowners can access their financial reports and bookings through Vacasa’s online homeowner portal. Vacasa’s well-trained staff handles all management-related issues, freeing up time for you to handle other businesses.
- Provides industry-specific management for vacation rentals
- Offers 3D online home tours
- Provides cleaning services and thorough housekeeping
- Online homeowner portal for owners to monitor their vacation rentals
- Only focuses on vacation rentals
- It covers only the North and Central American region
Try Vacasa for managing your vacation rentals.
Property Management Services FAQ
Choosing a good property management company is a challenge if you do not know what key metrics to look for when comparing the available options. The first criteria you should look out for before making your choice is the presence of a good reputation in the real estate market.
Good property management companies must have explained costs, including management fees and contract details. Check for the possession of proper licenses to manage properties in your state. Insurance coverage is another criterion you do not want to omit.
Picking a company with specialized experience in your location is necessary. To avoid issues with communication, the company you choose should have excellent customer service or a clear path of where to go if any issues arise.
Costs vary per contract but typically include setup, management, new tenant placement, and lease renewal fees.
The industry standard for property management fees ranges from 8% to 12% of the monthly rental fees. Costs tend to be higher if you require other services from your property management service provider, such as legal arrangements, evictions and tenant turnover, cleaning the unit or property, and advertising vacancies.
Using a property management company is not just worth it but a necessity. When managing your property, there are many laws and maintenance requirements you have to pay attention to. Except you have the time to handle the complexities of owning and leasing a property, using a property management provider is worth it.
Property management service providers have the professionalism and expertise to deal with tenants, keep track of maintenance responsibilities, and ensure your property remains compliant with local laws and practices.
Choosing the Right Property Management Company
Picking the best property management company requires you to look for certain prerequisites such as a strong reputation and deep expertise in your properties.
Your property type (commercial or residential properties) will determine the right property management provider. Some providers specialize in commercial properties, some in residential properties, and others in both niches.
Here are the best property management companies for different needs.