Top 10 Best Property Management Companies to Trust in 2024

Choosing the right property management company can be the key to unlocking your rental property’s full potential, and maximizing your rental income while minimizing the stress of daily operations.

In this comprehensive guide, we’ll explore the top 10 best property management companies that can help streamline your operations and boost your rental income.

What Makes a Property Management Company the Best?

When you’re looking for the perfect property management company, there are a few key things to keep in mind to ensure you make the best choice.

First off, experience matters. You’ll want a property management company with a solid track record, one that has proven its expertise in managing properties efficiently over the years. This is especially true in the residential property management sector where a well-experienced company can handle the unique challenges that come with property ownership.

Next, think about the services they offer. It’s best to find property management companies that provide a full range of services to meet your needs, whether it’s handling maintenance issues, leasing, or tenant relations. Good property managers will ensure that tenants can easily submit maintenance requests and that these requests are handled promptly and efficiently.

Also, don’t forget to check out customer reviews. Hearing from other property owners and tenants can give you a good sense of how satisfied people are with their property manager and the overall service provided by the company. This feedback is invaluable in the property management industry.

In today’s tech-savvy world, it’s a bonus if the property management company uses the latest technology. This can make everything run more smoothly, from scheduling maintenance to managing finances. Some of the largest property management companies leverage advanced tech to streamline operations and improve customer satisfaction.

Lastly, consider the pricing. Make sure their fees fit within your budget and offer good value for the services you get. Balancing these factors will help you find a property management company that will take great care of your property and make your life easier. With the right property management company, you’ll be able to enjoy the benefits of property ownership without the usual headaches.

Top 10 Best Property Management Companies for 2024

1. Greystar Real Estate Partners

Headquartered in Charleston, South Carolina, Greystar manages a wide range of properties, including residential, commercial, and mixed-use developments. The company’s portfolio spans across various regions, including North America, Europe, Latin America, and Asia-Pacific.

Standout Features and Services

• Comprehensive Property Management: Greystar offers full-service property management, covering leasing, marketing, maintenance, and resident services.
• Development and Construction: The company is involved in the development and construction of new properties, ensuring high-quality standards from the ground up.
• Investment Management: Greystar provides investment management services, helping clients with property acquisitions, asset management, and financial planning.
• Sustainability Initiatives: The company emphasizes eco-friendly practices and sustainability, incorporating green building techniques and energy-efficient solutions in their properties.
• Technology Integration: Greystar leverages advanced technology for property management, including online portals for residents, digital leasing platforms, and maintenance request systems.

Pros and Cons

Pros:

• Extensive Experience: With decades of experience, Greystar has a proven track record in the industry.
• Global Reach: The company’s international presence allows it to manage a diverse range of properties and cater to various market needs.
• Comprehensive Services: From property management to development and investment, Greystar offers a full spectrum of real estate services.
• Strong Reputation: The company is well-regarded for its professionalism, quality service, and commitment to sustainability.

Cons:

• Cost: As a leading property management firm, Greystar’s services may come at a premium, which might not be suitable for all budgets.
• Scalability Concerns: While Greystar is effective in managing large portfolios, smaller property owners may find their services less tailored to individual needs.

Pricing

Pricing for Greystar’s services can vary widely based on the location, type of property, and the specific services required.

Generally, their management fees are competitive with other top-tier property management companies, often ranging from 8% to 12% of the monthly rental income. Additional fees may apply for specific services like leasing, renewals, and maintenance.

2. Lincoln Property Company

Headquartered in Dallas, Texas, Lincoln Property Company (LPC) operates on a global scale, managing residential and commercial properties. The company has a reputation for excellence in property management, development, and investment.

Standout Features and Services

• Comprehensive Property Management: LPC offers full-service property management, including leasing, marketing, maintenance, and resident relations.
• Development and Construction: The company is heavily involved in developing residential, commercial, and mixed-use properties, ensuring high standards of construction and design.
• Investment Management: LPC provides investment management services, including property acquisitions, asset management, and financial planning.
• Technology Integration: LPC uses advanced technology to streamline property management processes, offering online portals for residents and digital solutions for leasing and maintenance.
• Sustainability Initiatives: LPC emphasizes sustainable building practices and eco-friendly operations to reduce environmental impact.

Pros and Cons:

Pros:

• Extensive Experience: LPC has decades of experience in property management and development, ensuring reliable and professional services.
• Wide Range of Services: The company offers a comprehensive suite of services, from property management to development and investment.
• Strong Market Presence: LPC’s large portfolio and global presence allow it to leverage economies of scale and industry expertise.
• Focus on Sustainability: The company’s commitment to sustainability is a significant advantage for environmentally conscious clients.

Cons:

• Cost: LPC’s services may come at a premium, making them less accessible for smaller property owners or those on tight budgets.
• Scale: The company’s large size may sometimes result in less personalized service for individual property owners.

Pricing

Pricing for LPC’s services can vary widely based on the location, type of property, and specific services required. Typically, management fees range from 7% to 10% of the monthly rental income, with additional fees for leasing, renewals, and maintenance services.

3. Cushman & Wakefield

Known for its comprehensive property management, valuation, and advisory services, Cushman & Wakefield manages properties across various sectors, including office, industrial, retail, and multifamily.

Standout Features and Services

• Comprehensive Property Management: Cushman & Wakefield offers end-to-end property management services, including tenant relations, maintenance, leasing, and financial reporting.
• Valuation and Advisory Services: The company provides expert valuation, due diligence, and advisory services, assisting clients in making informed real estate decisions.
• Global Reach: With a vast international network, Cushman & Wakefield has extensive market knowledge and access to global real estate trends and opportunities.
• Technology Integration: The firm uses cutting-edge technology to enhance property management efficiency, offering clients advanced analytics and reporting tools.
• Sustainability Initiatives: Cushman & Wakefield emphasizes sustainability and energy efficiency, helping clients implement eco-friendly practices and achieve sustainability goals.

Pros and Cons

Pros

• Global Expertise: Cushman & Wakefield’s extensive international presence provides clients with unparalleled market insights and opportunities.
• Wide Range of Services: The company offers a comprehensive suite of real estate services, from property management to valuation and advisory.
• Professionalism: Known for its high standards, Cushman & Wakefield is widely regarded for its professionalism and expertise in the industry.
• Technology and Innovation: The firm’s use of advanced technology and data analytics helps clients optimize property performance and make informed decisions.

Cons

• Cost: Cushman & Wakefield’s premium services may come at a higher cost, which might not be suitable for all clients, especially smaller property owners.
• Focus on Commercial Real Estate: The company’s primary focus on commercial properties might not cater to residential property owners’ specific needs.

Pricing

Pricing for Cushman & Wakefield’s services can vary widely based on the property type, location, and specific services required. Generally, management fees for commercial properties range from 3% to 7% of the gross rental income. Additional fees may apply for specialized services such as valuation, advisory, and sustainability consulting.

4. CBRE Group, Inc.

CBRE Group, Inc. operates in more than 100 countries and offers a comprehensive range of services across various property sectors, including office, industrial, retail, multifamily, and healthcare.

Standout Features and Services

• Comprehensive Property Management: CBRE provides full-spectrum property management services, including tenant relations, maintenance, financial reporting, and asset management.
• Advisory and Transaction Services: The company offers expert advisory and transaction services for property sales, leasing, and acquisitions.
• Valuation and Appraisal: CBRE delivers accurate and reliable property valuations and appraisals, helping clients make informed investment decisions.
• Global Workplace Solutions: CBRE’s workplace solutions include facilities management, project management, and strategic consulting to optimize workplace performance.
• Sustainability and Energy Management: The company emphasizes sustainability and energy efficiency, assisting clients in implementing green building practices and achieving sustainability goals.

Pros and Cons

Pros:

• Global Reach: CBRE’s extensive international presence provides clients with unparalleled market insights and access to global real estate opportunities.
• Wide Range of Services: The company offers a comprehensive suite of real estate services, from property management to valuation and advisory.
• Industry Expertise: Known for its high standards and professionalism, CBRE is widely regarded as a leader in the real estate industry.
• Innovation and Technology: CBRE leverages advanced technology and data analytics to optimize property performance and enhance client decision-making.

Cons:

• Cost: CBRE’s premium services may come at a higher cost, which might not be suitable for smaller clients or those with tight budgets.
• Focus on Commercial Real Estate: The company’s primary focus on commercial properties might not cater to the specific needs of residential property owners.

Pricing

Pricing for CBRE’s services can vary widely based on the property type, location, and specific services required. Typically, management fees for commercial properties range from 3% to 7% of the gross rental income. Additional fees may apply for specialized services such as valuation, advisory, and sustainability consulting.

5. Colliers International

Colliers International is a global real estate services and investment management company headquartered in Toronto, Canada. It operates in 68 countries with over 15,000 professionals and provides a comprehensive range of services to clients in various property sectors, including office, industrial, retail, multifamily, and hospitality.

Standout Features and Services

• Comprehensive Property Management: Colliers offers full-service property management, including leasing, marketing, maintenance, and financial reporting.
• Advisory and Consulting Services: The company provides strategic advisory services, including market research, valuation, and asset management.
• Capital Markets: Colliers assists clients with property sales, acquisitions, and financing through its capital markets division.
• Project Management: The company offers project management services, including construction management, design, and development consulting.
• Sustainability and Wellness: Colliers emphasizes sustainable building practices and wellness initiatives to improve the environmental and social impact of properties.

Pros and Cons

Pros:

• Global Reach: Colliers’ extensive international network provides clients with deep market insights and access to global real estate opportunities.
• Wide Range of Services: The company offers a broad suite of services, from property management to strategic advisory and capital markets.
• Industry Expertise: Colliers is known for its professionalism and expertise across various property sectors.
• Innovative Solutions: The company leverages advanced technology and innovative solutions to enhance property performance and client satisfaction.

Cons:

• Cost: Colliers’ services may come at a premium, which might not be suitable for smaller clients or those with limited budgets.
• Complexity: The company’s large scale and extensive service offerings can sometimes lead to complexity in service delivery and communication.

Pricing

Pricing for Colliers’ services varies based on the property type, location, and specific services required. Generally, management fees for commercial properties range from 3% to 6% of the gross rental income. Additional fees may apply for specialized services such as valuation, advisory, and project management.

6. JLL (Jones Lang LaSalle)

Jones Lang LaSalle (JLL) is a global real estate services firm headquartered in Chicago, Illinois. With operations in over 80 countries and a workforce of more than 90,000, JLL provides a wide range of services across the commercial real estate sector, including property management, leasing, investment management, and advisory services.

Standout Features and Services

• Comprehensive Property Management: JLL offers full-spectrum property management services, including tenant relations, maintenance, financial reporting, and asset management.
• Investment Management: Through its subsidiary, LaSalle Investment Management, JLL provides investment management services, managing assets for a range of clients.
• Advisory and Consulting Services: JLL offers strategic advisory services, including market research, valuation, and corporate real estate consulting.
• Project and Development Services: The company provides project management, construction management, and development consulting services.
• Sustainability and Energy Management: JLL emphasizes sustainability, helping clients achieve their environmental goals through energy efficiency and green building practices.

Pros and Cons

Pros:

• Global Expertise: JLL’s extensive international presence offers clients unparalleled market insights and access to global real estate opportunities.
• Wide Range of Services: The company provides a comprehensive suite of real estate services, from property management to investment management and advisory.
• Innovation and Technology: JLL leverages advanced technology and data analytics to enhance property performance and client decision-making.
• Strong Reputation: Known for its professionalism and high standards, JLL is widely respected in the real estate industry.

Cons:

• Cost: JLL’s premium services can be costly, which might not be suitable for smaller clients or those with limited budgets.
• Focus on Commercial Real Estate: The company’s primary focus on commercial properties might not cater to the specific needs of residential property owners.

Pricing

Pricing for JLL’s services varies based on the property type, location, and specific services required. Generally, management fees for commercial properties range from 3% to 7% of the gross rental income. Additional fees may apply for specialized services such as valuation, advisory, and project management.

7. AvalonBay Communities

AvalonBay Communities focuses on the development, acquisition, and management of multifamily communities, primarily in high-barrier-to-entry markets in the United States, including New York City, Washington D.C., and California.

Standout Features and Services

• High-Quality Properties: AvalonBay is known for its high-quality, well-maintained properties that offer a range of amenities, such as fitness centers, swimming pools, and community spaces.
• Sustainability Initiatives: The company emphasizes sustainability and green building practices, including energy-efficient appliances, water conservation measures, and LEED-certified buildings.
• Resident Services: AvalonBay offers various resident services, including online rent payment, maintenance requests, and community events, enhancing the living experience.
• Innovative Technology: The company utilizes advanced technology for property management, including smart home features and online portals for leasing and resident services.
• Community Development: AvalonBay is committed to community development and corporate social responsibility, engaging in initiatives that support local communities and charitable organizations.

Pros and Cons

Pros:

• High-Quality Properties: AvalonBay’s properties are well-maintained and located in desirable areas, offering a high standard of living.
• Sustainability Focus: The company’s commitment to sustainability and green building practices is a significant advantage for environmentally conscious residents.
• Comprehensive Resident Services: AvalonBay provides a range of resident services that enhance convenience and satisfaction.
• Strong Market Presence: With a focus on high-barrier-to-entry markets, AvalonBay maintains a strong market presence and stable demand for its properties.

Cons:

• Cost: The premium quality and desirable locations of AvalonBay properties often come with higher rental rates, which might not be affordable for all potential residents.
• Limited Geographic Reach: While AvalonBay has a strong presence in certain markets, its operations are concentrated in high-barrier-to-entry areas, which may limit its accessibility to residents in other regions.

Pricing

Pricing for AvalonBay properties varies based on the location, property type, and specific amenities offered.

Generally, AvalonBay communities are positioned as premium properties, with rental rates reflecting their high quality and desirable locations. As such, rents are typically higher than average market rates, especially in high-demand areas.

8. Equity Residential

Equity Residential operates primarily in urban and high-density suburban markets across the United States. The company’s portfolio includes a mix of luxury apartments and affordable housing units, catering to diverse demographics.

Standout Features and Services

• High-Quality Properties: Equity Residential is known for its well-maintained properties, located in prime urban areas with easy access to amenities and transportation.
• Resident Services: The company offers a range of services to enhance the living experience, including online rent payment, maintenance requests, and resident events.
• Sustainability Initiatives: Equity Residential emphasizes sustainability, implementing energy-efficient practices and green building standards across its properties.
• Technology Integration: The company utilizes advanced technology for property management, including smart home features and online leasing platforms.
• Customer Service: Equity Residential places a strong emphasis on customer service, providing responsive and professional management teams to address resident needs.

Pros and Cons

Pros:

• Prime Locations: Properties are typically located in desirable urban and suburban areas, offering convenient access to amenities and transportation.
• High-Quality Living: Equity Residential properties are well-maintained and offer a range of amenities, contributing to a high standard of living.
• Sustainability Focus: The company’s commitment to sustainability and green practices is a significant advantage for environmentally conscious residents.
• Strong Market Presence: Equity Residential has a robust presence in key markets, ensuring stable demand and high occupancy rates.

Cons:

• Cost: The premium quality and prime locations of Equity Residential properties often result in higher rental rates, which may not be affordable for all potential residents.
• Occasional Maintenance Issues: Some reviews mention occasional delays in maintenance response times and the need for improved communication from management.

Pricing

Pricing for Equity Residential properties varies based on location, property type, and specific amenities offered.

Generally, rental rates reflect the premium quality and desirable locations of the properties, with rents typically higher than average market rates, especially in high-demand urban areas.

9. WinnCompanies

Headquartered in Boston, Massachusetts, WinnCompanies manages a diverse portfolio that includes residential, commercial, and mixed-use properties.

Standout Features and Services:

• Affordable Housing Expertise: WinnCompanies is a leader in managing affordable housing projects, ensuring high-quality living standards for low-income residents.
• Comprehensive Property Management: The company provides full-service property management, including leasing, maintenance, resident services, and financial reporting.
• Development and Redevelopment: WinnCompanies is involved in the development and redevelopment of properties, focusing on revitalizing communities and enhancing property value.
• Sustainability Initiatives: The company emphasizes sustainability through green building practices, energy efficiency, and environmentally friendly operations.
• Resident Services: WinnCompanies offers various resident services, including educational programs, community events, and social services to improve the quality of life for residents.

Pros and Cons:

Pros:

• Affordable Housing Focus: The company’s expertise in affordable housing is a significant advantage, providing quality housing options for low-income families.
• Sustainability Commitment: WinnCompanies’ focus on sustainability and green practices is beneficial for environmentally conscious residents and communities.
• Community Development: The company’s involvement in community development projects helps revitalize neighborhoods and create better living environments.
• Comprehensive Services: With a wide range of property management and development services, WinnCompanies can meet diverse client needs.

Cons:

• Geographic Limitations: While the company has a strong presence in certain regions, its services may not be as accessible in all areas.
• Cost for Premium Services: Although the company focuses on affordable housing, premium properties and services might come at higher costs, potentially limiting access for some residents.

Pricing

Pricing for WinnCompanies’ services varies widely based on the location, property type, and specific services required.

For affordable housing projects, rents are typically set according to local housing authority guidelines. For market-rate properties, rental rates reflect the quality and amenities offered, generally aligning with regional market standards.

10. Bozzuto

Bozzuto specializes in property management, development, construction, and homebuilding, with a portfolio that includes luxury apartments, affordable housing, and mixed-use communities.

Standout Features and Services:

• High-Quality Property Management: Bozzuto offers comprehensive property management services, including leasing, maintenance, resident services, and financial management.
• Luxury and Affordable Housing: The company manages a diverse range of properties, from luxury apartments to affordable housing, ensuring high standards across all types.
• Development and Construction: Bozzuto is involved in the development and construction of new properties, focusing on innovative design and quality craftsmanship.
• Community Focus: The company emphasizes building strong communities through resident engagement, social events, and community programs.
• Sustainability Initiatives: Bozzuto incorporates sustainable practices in its developments, including energy-efficient building techniques and eco-friendly operations.

Pros and Cons: Pros:

• Diverse Portfolio: Bozzuto’s ability to manage both luxury and affordable housing properties ensures a broad appeal and accessibility.
• Community Engagement: The company’s focus on community-building and resident engagement enhances the living experience.
• Quality and Innovation: Bozzuto is known for its high standards in property management and innovative approaches to development and construction.
• Sustainability Commitment: The company’s dedication to sustainability and green practices benefits both residents and the environment.

Cons:

• Cost: The premium quality of Bozzuto’s properties and services can result in higher rental rates, which might not be affordable for all potential residents.
• Geographic Limitations: While Bozzuto has a strong presence in the Mid-Atlantic and Northeastern regions, its services may not be as widely available in other parts of the country.

Pricing

Pricing for Bozzuto properties varies widely based on the location, property type, and specific amenities offered.

Generally, rental rates for Bozzuto-managed properties are higher due to the premium quality and extensive amenities. For affordable housing projects, rents are set according to local housing authority guidelines, ensuring accessibility for low-income residents.

Final Thoughts

Choosing the right property management company can make all the difference in your rental experience. By focusing on experience, services, reviews, technology, and pricing, you can find a company that fits your needs and takes the hassle out of property ownership.

With the right partner, you’ll maximize your rental income and enjoy a stress-free management experience. Take your time, do your research, and pick a company that will help you thrive in 2024 and beyond.