Top 20 Property Management Companies of 2024

The best property managers efficiently run large multifamily investment properties, maintaining efficiencies and maximizing returns. If you have student housing, senior housing, income-based apartments, or any other type of multifamily investment property, these are the top 20 property management companies according to the National Multifamily Housing Council. The NMHC has ranked these companies for 2023 in the following order, and included some basic details about them.

Top Property Management Companies

The list of top rated property management companies includes the largest ones in the country. Most of these companies manage properties regionally or nationally, and they all are responsible for 70,000 to 700,000+ units.

1. Greystar Real Estate Partners

Greystar Real Estate Partners retained its position as the largest property management company, managing 726,826 units, an increase from 698,257 units in 2022. Led by Robert A. Faith and based in Charleston, South Carolina, Greystar continues to demonstrate its dominance in the property management sector.

2. Lincoln Property Company

Lincoln Property Company ranks second in property management, overseeing 213,900 units, up from 210,086 in 2022. Headquartered in Dallas, Texas, the company maintains a significant presence in the sector, including a focus on military properties. Their growth reflects a continued strong performance in property management.

3. Asset Living

Asset Living under the leadership of Ryan McGrath, has experienced significant growth. The company, based in Houston, Texas, manages 202,748 units, a substantial increase from 159,352 units in 2022. This growth includes a notable portion of student housing, showcasing their expanding portfolio in diverse property types.

4. Cushman & Wakefield

Cushman & Wakefield maintains a strong presence in the property management sector, managing 178,105 units. This marks a slight increase from 172,145 units in 2022. Based in Dallas, Texas, Cushman & Wakefield demonstrates stability in its portfolio size, indicating a consistent performance in the property management industry.

5. FPI Management

FPI Management headquartered in Folsom, California, manages 159,248 units, showing an increase from 140,210 units in 2022. This growth indicates the company’s expansion, particularly in the Southeast region, while maintaining a substantial presence throughout the United States, excluding the Northeast.

6. RPM Living

RPM Living has rapidly expanded since its inception in 2020. The Austin, Texas-based company now manages 148,603 units, a significant increase from 112,872 units in 2022. RPM Living’s growth is primarily concentrated in the Central and Southeast U.S., indicating a strong presence in these regions.

7. Apartment Management Consultants, LLC

Apartment Management Consultants, LLC based in Cottonwood Heights, Utah, manages 130,776 units, showing growth from 113,728 units in 2022. This growth reflects an increase in their market-rate unit portfolio, underscoring the company’s expanding influence in the property management sector.

8. BH

BH headquartered in Des Moines, Iowa, has continued its trend of steady growth in property management. The company now manages 107,774 units, marking an increase from 106,353 units in 2022. This consistent growth over the years reflects BH’s long-standing presence and expansion in the property management industry.

9. WinnCompanies

WinnCompanies based in Boston, Massachusetts, manages 105,673 units, slightly up from 103,064 units in 2022. The company has a diverse portfolio across all 50 states, including a significant portion dedicated to military housing. WinnCompanies’ growth has been moderate over the past decade.

10. Avenue5 Residential, LLC

Avenue5 Residential, LLC headquartered in Seattle, Washington, continues its robust growth trajectory. Since its inception 5 years ago, the company has expanded significantly, managing 100,805 units in 2023, up from 86,958 units in 2022. This steady increase underlines Avenue5 Residential’s rapid development in the property management sector.

11. MAA

MAA based in Germantown, Tennessee, continues to manage a significant portfolio of 99,676 units, maintaining consistency with their 2022 unit count of 100,002. Specializing in market-rate units, MAA has a strong presence throughout the Midwest, Central, and Southern U.S. This stability in unit management also aligns with their status as a Top Owner, managing many of their properties.

12. RangeWater Real Estate

RangeWater Real Estate a fast-growing company based in Atlanta, Georgia, manages 97,072 units. This marks a substantial increase from their 2022 count of 78,380 units, demonstrating rapid expansion within just a few years. RangeWater’s swift growth highlights its rising influence in the real estate sector.

13. Morgan Properties

Morgan Properties known for developing and managing properties in the Midwest, South, and Mid-Atlantic, manages 95,594 units. This is an increase from 96,107 units in 2022, reflecting continued growth in their reach. The company is also recognized as a Top Owner, highlighting its significant role in property ownership and management.

14. Bozzuto

Bozzuto continues its growth through development. Based in Greenbelt, Maryland, the company manages 88,710 units, marking an increase from 83,324 units in 2022. Bozzuto’s expansion is evident across the West Coast, East Coast, and Upper Midwest, reinforcing its status as a significant player in the property management industry.

15. Cortland

Cortland, based in Atlanta, GA, has shown significant growth in property management, overseeing 83,654 units in 2023, a rise from 76,381 units in the previous year. This expansion highlights their robust presence in apartment management. The company, led by Steven DeFrancis and Jason Kern, continues to strengthen its portfolio in the sector.

16. Equity Residential

Equity Residential based in Chicago, Illinois, slightly reduced its portfolio to 79,594 units in 2023 from 80,407 units in 2022. Despite this minor decline, it remains a leading entity in property management and was recognized as a Top Owner in 2022.

17. AvalonBay Communities, Inc

AvalonBay from Arlington, Virginia, continues its steady growth in the property management industry. In 2023, the company manages 79,399 units, a slight decrease from 80,573 units in 2022. Recognized as a Top Manager, Top Owner, Top Developer, and Top Builder in 2022, AvalonBay maintains a consistent presence in the sector.

18. Bell Partners

Bell Partners from Greensboro, North Carolina, has shown growth, managing 77,955 units in 2023, up from 68,855 units in 2022. This increase reflects a positive trend in their portfolio, which is distributed across various regions, excluding the Midwest.

19. ZRS Management LLC

ZRS Management, LLC has significantly increased its managed units to 76,455 in 2023, up from 60,193 units in 2022. This growth underscores the company’s expanding presence in the property management industry. Based in Orlando, Florida, ZRS Management continues to strengthen its portfolio across various regions.

20. Monarch Investment & Management Group

Monarch Investment & Management Group recognized as a Top Manager and Top Owner in 2022, has expanded its portfolio to 71,661 units in 2023 from 66,898 units the previous year. Based in Franktown, Colorado, the company demonstrates consistent growth in the property management sector.

3 Things to Consider When Choosing the Best Property Manager

While these are the 20 top commercial property management companies, none of these companies is the best in every situation. The property manager that you choose should be specifically suited for your properties. These five considerations will help you determine which property manager is best suited for your particular properties:

• Region: The property management company should already have properties in your state, so they’re at least somewhat familiar with the local and regional markets.
• Specialty: If you have student, senior, military or other specific properties, look for a company that has lots of specialized housing already.
• Ratings: Good ratings by both professional organizations and tenants are marks of a quality property management company.

How Much Do Property Managers Charge?

The fees that property managers charge vary. Expect to pay 8 to 12 percent of rents as a property management fee. There can also be setup fees, repairs/maintenance fees, vacancy fees, eviction fees, termination fees, and other charges. Review any contract closely, as it’ll delineate all fees that a property manager charges.

Choose a Good Property Manager

If you need a property manager for one or more multifamily properties, these are some of the best property management companies throughout the country. One may indeed be well-suited for attending to your property. Investigate them further to find out which one company that is.

When investing in multifamily commercial rental properties, it is vital to have high quality partners that you can trust to not only maintain the property and provide customer service, but also secure the best financing options available to you.

At CommLoan, that is exactly what our platform strives to achieve. With hundreds of lenders and thousands of loan programs, leverage CommLoan to help you find the best deal. Get a Free Multifamily loan quote today.