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7 Largest Property Management Companies: Key Things to Consider
Many hosts and property owners decide to outsource some of the tasks to a property management company instead of going the self-management route. From taking care of the general building upkeep to dealing with specific maintenance requests to collecting rental payments, property managers can assist in various ways.
However, not all property management firms live up to your expectations. To help you find the best property management company the first time around, here’s a closer look at some of the largest property management companies and the services they typically offer. Also, understand the different fees involved and the key factors to consider when choosing a property management company.
What Does a Property Management Company Do?
A property management company is usually hired by a property owner to take care of the daily tasks involved in renting out their property. From apartments to tiny homes to three-bedroom houses, they can oversee various property types. They’re also equipped to take care of multiple rental properties at the same time, making them a popular choice among those looking to acquire more real estate investments.
To give you a better idea of what property management work usually entails, here are examples of the typical duties that residential and short term property managers could be responsible for:
- Property maintenance
- Marketing rental properties to ensure occupancy
- Managing property listings on third-party websites like Airbnb, Vrbo, and Booking.com
- Screening prospective tenants/guests
- General tenant/guest communication, which includes answering any questions that they might have
- Overseeing check-ins and checkouts
- Property inspections after checkouts
- Rent collection or collecting payment
- Organizing the cleaning crew and vendors
- Restocking supplies such as soap, toilet paper, towels, etc.
- Maintaining detailed records of payments, taxes, occupancy, issues reported, etc.
- Creating and implementing pricing strategies
- Keeping property owners informed about the performance of their rental properties
- Staying up to speed with legal requirements to ensure compliance.
What Are the Benefits of Hiring a Property Management Company?
Property managers’ specialized set of skills can help real estate investors to unlock the full earnings potential of their rentals. In addition to helping them generate more money, working with property management companies also offers the following advantages:
Less time-consuming and stressful
One of the most significant and obvious advantages is that a good property rental management company can save hosts many hours and several headaches. Property managers can take care of all the aspects involved in running a successful vacation rental business to free up time that hosts can rather dedicate to other revenue-generating activities like looking for new real estate investments. Alternatively, they can use the extra hours to focus on a side hustle or simply spend it with their family.
Also, in the event that there should arise a problem, the property manager will deal with the guest or tenant directly. An unhappy guest can quickly escalate into a stressful situation which can be difficult to address if you don’t have to do it regularly.
Insight into the real estate market
From trends to new regulations, the best property management companies make sure that they stay up to speed with changes that can impact your real estate assets. This in-depth knowledge can, for example, be applied to increase your rental income as they can assist in setting competitive nightly fees to ensure a good occupancy rate.
Not only can they use their expertise to help you make more money, but they can also prevent costly fines or legal expenses. Property management companies are familiar with local laws and regulations and can ensure that your rental properties are in compliance.
Network with third-party vendors
On top of their experience and knowledge, a good property management company will also have connections with key third-party service providers like cleaning companies and plumbers. If they’re not able to save you money on essential services and perhaps products, they’ll know which vendor partners offer a reliable service/product.
What Can You Expect to Pay for a Quality Property Management Company?
There are a number of factors that can impact how much you have to pay for property management fees. These include:
- The location of your rental property. Management fees in popular areas tend to be higher.
- The property size and its guest amenities. Small apartments will typically be less expensive to manage than multi-bedroom residential properties.
- The property’s overall condition. An older property will usually call for more intensive maintenance which can bump up the fees.
When assessing the costs, you should also keep in mind that different property management companies might use a different pricing model. For example, some companies will charge a commission instead of a flat fee.
What percent do most property management companies take?
If a company uses the commission model, you’ll be charged a percentage of your monthly rent. Getting charged a percentage can work in your favor when your property is located in an area that has a short peak season. As for the average percentage that you can expect to pay, this can vary anything from 8% to double that.
Residential management typically ranges from 8–12%, while vacation rental management commissions are higher, usually ranging from 10–30% (even higher).
Not only can the pricing structure vary, but there can also be extra fees in addition to the primary management fee. Depending on your contract, here are some of the extra fees that you might be charged:
- A one-time setup fee
- An eviction fee in the event that a guest becomes a squatter and refuses to checkout on time
- A maintenance fee for handling repair requests.
Be aware of possible hidden fees
You must also be on the lookout for possible hidden fees like an early termination fee or a late payment fee. Some property management companies might charge a fee if you decide to end your contract with them earlier.
As fees vary, it’s important for rental property owners to understand all the fees charged by the property management company before hiring them. You have every right to ask for a complete breakdown of all the fees to ensure that there are no hidden costs.
If a property management company is reluctant to show this kind of transparency, expand your search to other property management companies until you find one that’s happy to share their pricing upfront.
7 Top Property Management Companies
Check out the largest and best companies with a nationwide and global presence.
1. Greystar Real Estate Partners
This is the largest property management company, based in South Carolina. It operates in 211 markets globally and manages more than 1 million units and beds. The company oversees residential housing, apartment homes, furnished corporate housing, and mixed-use properties.
Beyond property management, Greystar Real Estate Partners is also heavily involved in real estate development and investment management. Greystar develops residential communities with a focus on multifamily housing, but also engages in student housing, senior living, and mixed-use developments. They handle the entire process end-to-end, from acquisition and planning to construction and leasing.
In addition to North America, the company has a presence in several countries across Europe, the Asia-Pacific region, and South America.
Why hire them?
End-to-end solutions: While property management is their core service, Greystar also advises institutional investors and manages funds. As a developer, they handle everything from land acquisition to construction and leasing.
Global Expertise: The company operates in over 17 countries, including the United States, France, Germany, the United Kingdom, Brazil, China, Japan, Australia, and more. They are capable partners for managing global portfolios and navigating complex international requirements.
Local Offices: Despite their global reach, having local offices allows them to maintain deep market knowledge in key cities and adapt strategies quickly.
Strong Track Record: Founded in 1993, the firm has decades of experience and is recognized for successfully developing and leasing diverse assets through various economic cycles—from housing booms to recessions.
Well-Trained Staff: Companies of this scale invest in educating their employees and training them to deliver standardized services.
2. Willow Bridge Property Company
Willow Bridge Property Company was named the 3rd largest multifamily manager in 2025. Formerly the residential division of Lincoln Property Company, it rebranded as Willow Bridge Property Co. following its acquisition by Canadian real estate investor Cadillac Fairview.
Today, the company manages over 220,000 units nationwide. Willow Bridge Property Company is committed to innovative strategies, resident-focused services, and operational excellence in multifamily property management.
Why Hire Them?
Multifamily Management: Willow Bridge brings over 60 years of experience in multifamily real estate.
National Presence: Managing more than 220,000 units across 75 markets, the company combines institutional resources with localized market insight.
End-to-End Solutions: Willow Bridge offers development, acquisitions, asset management, and property management—all under one roof.
Sustainability Initiatives: The company is committed to sustainable development and responsible property management practices.
3. Cushman & Wakefield
Cushman & Wakefield is a well-established player in the market, offering end-to-end services across nearly all sectors of commercial real estate, including retail, industrial, office, and multifamily.
While their core strength lies in commercial real estate, they also provide residential and multifamily management services. The company partners with corporations, REITs, institutional investors, and government entities.
With nearly 400 offices in 60 countries and a workforce of 52,000, Cushman & Wakefield is a major force in the U.S. property management industry and globally. The company holds ISO 14001 certification across its managed portfolio, demonstrating a strong commitment to environmental management.
Why Hire Them?
Commercial Management: The company's core focus is commercial real estate. If you're looking for a firm to manage or optimize a commercial portfolio, they’re one of the most established and trusted names in the industry.
Global Expertise: International Operations: With about 400 offices across 60 countries, the company delivers consistent service and deep market insights to clients worldwide.
Full Suite of Services: From lease administration and financial reporting to risk management and technical due diligence, they provide holistic asset management solutions.
Data-Driven Decisions: Leveraging technology to collect and analyze data makes maintenance easier and enables informed decision-making.
4. RPM Living
Since its founding in 2002, RPM Living has grown from managing just a few units to overseeing more than 225,000 apartment units across over 45 U.S. markets, making it one of the largest multifamily managers in the country.
RPM specializes in multifamily management, delivering personalized solutions tailored to the unique needs of both investors and residents. With an exclusive focus on multifamily properties, they offer a full-service approach that includes day-to-day operations, leasing, maintenance, financial reporting, and resident engagement.
Why Hire Them?
Multifamily Management: A full-service provider specializing in multifamily property management.
National Presence: Manages over 225,000 units across 45+ submarkets in more than 30 states—and growing.
Support for Smaller Portfolios: Regional managers oversee smaller portfolios, delivering personalized service.
Agency-Level Marketing: Executes targeted promotional strategies to drive revenue, maximize occupancy, and enhance asset value.
5. FPI Management
FPI, headquartered in Folsom, California, currently manages just over 165,000 units across 21 states—and continues to expand. They offer management services for affordable housing, luxury properties, student housing, senior housing, and single-family homes. Their client base includes institutional investors, financial institutions, and private investors.
Their extensive experience in affordable housing makes them a strong choice for managing Low-Income Housing Tax Credit (LIHTC) communities.
Why Hire Them?
Affordable Housing: With over 40,500 affordable housing units under management, FPI has been serving affordable housing communities since 1990.
National Presence: Operating in 21 states, FPI boasts a broad geographic footprint, enabling them to serve a diverse range of markets.
Industry Expertise: Founded in 1968, FPI Management has over 55 years of experience in the multifamily property management industry.
Comprehensive Services: Offering full-service management, including leasing and marketing, maintenance and facilities management, resident services, financial reporting and accounting, staff training and development.
6. Vacasa
Vacasa is a leading full-service vacation rental property management company in North America, specializing in vacation rentals. An important part of vacation rental management is having someone available 24/7 to oversee the property when needed.
Vacasa’s local managers handle a range of tasks, including preparing properties for guests, managing cleaning, restocking, and maintenance. They also take on responsibilities such as:
- Managing short-term rental licenses and permits
- Creating optimized listings and marketing them across platforms like Airbnb, Vrbo, and Homes and Villas by Marriott Bonvoy
- Using technology to set dynamic pricing
- Handling guest communication and providing 24/7 support through a local team
Why Hire Them?
Vacation Rental Management: Since their inception, Vacasa has focused on the unique needs of managing vacation rental homes.
International Expertise: Vacasa manages more than 40,000 vacation homes across the U.S., Canada, Mexico, Belize, and Costa Rica.
Local Teams: They have local, on-site teams and offer 24/7 guest support.
Revenue Optimization: Vacasa claims to boost homeowners' rental income by an average of 33% more than competitors through dynamic pricing and expert management.
7. Evolve
Evolve is a vacation rental property management company that has carved a niche in the short-term rental industry through its innovative, technology-driven approach and cost-effective services. Their commission is significantly lower than Vacasa’s, charging homeowners just 10% of booking revenue, which is on the lower end for vacation rental services.
Evolve offers a comprehensive suite of services, including listing properties on major platforms like Airbnb and Vrbo, optimizing visibility through targeted marketing strategies, managing guest communication, bookings, reviews, and support, using proprietary Smart Rates technology to implement dynamic pricing, assisting with lodging tax collection, and connecting homeowners with local contractors for cleaning and maintenance services.
Why Hire Them?
Vacation Rental Management: They handle essential short-term rental management tasks.
National Presence: Manages over 30,000 properties across hundreds of markets in the U.S. and North America.
Owner Flexibility: Homeowners retain control of their properties and can use them for personal stays while still benefiting from Evolve’s management services.
Affordability: Lower commission rates compared to many other property management services in the short-term rental industry—10% for core service or 15% for premium service.
4 Factors to Consider When Choosing a Property Management Company
Cost is an important factor. After all, there’s no sense in hiring a company if this extra expense means that your business won’t be profitable.
That being said, in addition to fees, there are a couple other factors to keep in mind. These include:
Relevant experience
Rental property owners should consider the experience of the property management company. They should look for a company with a proven track record of successfully managing rental properties in their location.
Not only should they be familiar with the location and its regulations as well as occupancy and pricing trends, but they should also look for a company that has experience in managing short-term rentals specifically. Vacation rental management is a whole different ball game than, for example, student housing or looking after commercial real estate.
Reputation
Years of experience suddenly matter less when a property management firm doesn’t have the reputation to back it up. To find out more about a company’s reputation, you can turn to online reviews and testimonials from previous hosts.
List of services
A common mistake is to assume that a company will take care of all the aspects. It’s a good idea to make a list of all the tasks that you need them to be responsible for beforehand and use this as a checklist. For example, if you stay on site, services like the restocking of supplies or property inspections might not be a deal-breaker.
Customer support
The way that they deal with you is a good indication of how they will interact with your guests. Considering that guest experience is critical, look for a property management company that has a positive style of communication and is responsive. If they fail to reply to your messages in a timely manner, the chances are good that your guests will have to wait too.
How Do You Know If You Need a Property Management Company?
Managing properties on your own is entirely possible, especially if you have the time and interpersonal skills. In some instances, though, paying for property management services will be the best move forward.
If you find yourself in the following situation, a good property manager will be able to add real value to your business:
You live far away from your properties
Sure, smart home technology like keyless entry and noise-monitoring devices have made it much easier to manage vacation rental properties remotely. However, this type of technology can never replace the need to have a professional in your network who can visit the property in person in case of an emergency.
Your goal is to acquire several properties
The more properties you have in your real estate portfolio, the more difficult it becomes to manage. The self-management approach is still feasible with one property, but if it’s your long-term goal to have several properties, finding a reliable property manager should be one of your immediate priorities.
You have a full-time job
Many hosts rent out properties on the side. However, it’s not entirely a source of passive income. As mentioned, there are various time-sensitive tasks involved and if it’s not your primary job, the guest experience might suffer without the extra help of a property management firm.
A Cost-effective Alternative to Property Management Companies
If you aren’t entirely sold on welcoming property managers to your team, an alternative is to invest in vacation rental software instead. It offers a range of features that will automate many of your daily tasks that will also help to free up time. A tool like iGMS, for example.
