Looking to rent out your property? The right property management company can make all the difference. They’ll oversee everything from finding tenants and collecting rent checks to making repairs and keeping your investment on track financially. But with so many options, how do you know which is best for you? With this guide to the best companies in the business, we’ll help you find exactly what you need—in just a few clicks!
7 Top Property Management Companies
With so many property management companies across the country, it can be hard to lock down one that fits your property’s needs. Here are some of the most-trusted property management companies for real estate-specific niches:
- Best Overall: GreyStar
- Best for Residential: Mynd
- Best for Short-Term Rentals: Vacasa
- Best for Commercial Real Estate: CBRE
- Best for International Properties: Colliers International
- Best for Owner Support: Lincoln Property Company
- Best Budget: Buildium
Best Overall: GreyStar
GreyStar is one of the most experienced property management companies in the game. Unlike many basic property management providers, they offer management for anything from high-rise apartment complexes to single-family rentals, student housing, and senior living!
Management Fees: Dependent on property size and condition. Extra fees include setup fees and turnover fees.
| Pros | Cons |
| ✅ Offers a multitude of niche property management services ✅ Long track record with over 700,000 units managed ✅ Extensive reach with over 227 global markets served | ❌ May not have the local touch many small-time investors want ❌ Missing markets in multiple Northeast states ❌ Unclear fee structure |
Best for Residential: Mynd
Covering most of the western and southern United States, Mynd is a modern property management option for those with single-family and small multifamily investment properties. Their low fees, transparent pricing, and guaranteed rent make Mynd a no-brainer for new landlords who don’t want the headaches of self-management.
Management Fees: Fee based on location and properties managed: SF Bay Area: $199 – $179/unit/month; Denver: $99 – $85/unit/month; Tampa: $99 – $79/month
| Pros | Cons |
| ✅ Low-cost, ultra-transparent pricing model ✅ Average renter credit score of 720+ (not the standard 650) ✅ Guaranteed rental income of $5,000 for missed payments | ❌ Only available in select states across the nation ❌ Complaints that customer support is non-US based ❌ Lack of physical property managers, so you may have to be around for repairs |
Best for Short-Term Rentals: Vacasa
Vacasa is not only a successful short-term rental platform, but it’s also one of the most-loved short-term rental property management companies. With a solid track record and a tech-first outlook, Vacasa promises to get your short-term rental filled with the highest revenue possible.
Management Fees: 25% – 35% plus admin costs and cleaning fees.
| Pros | Cons |
| ✅ 24/7 “on-the-ground” support from local property managers ✅ Dynamic pricing so your rental makes the most money possible ✅ Custom copywriting to make your vacation rental listing pop | ❌ Sky-high management fee (over 25% on average!) ❌ Some customers complain cleaning could be better ❌ Often slow responses for guests due to high volume of inquiries and lack of Vacasa staff |
Best for Commercial Real Estate: CBRE
For those that own commercial and industrial real estate investments, CBRE may be your best bet for property management. With specialties in retail, logistics, mixed-use, healthcare, and life science (woah!) real estate, CBRE can manage any property you don’t know how to.
Management Fees: Dependent on property type and size.
| Pros | Cons |
| ✅ Long-term track record with over 19,000 managed properties ✅ Economies of scale allow for better/cheaper repairs and management ✅ Accounting solutions for both small and large investors | ❌ Corporate, so you won’t have the personal touch of a local property manager ❌ Might not be the best for non-conglomerate-sized landlords ❌ No options for self-storage or warehousing |
Best for International Properties: Colliers International
Colliers International has been offering property management and professional services since the 1970s. They have over 15,000 employees and operate over 400 offices in over 63 countries for an unmatched level of global property coverage.
Management Fees: Dependent on property type and size.
| Pros | Cons |
| ✅ Included accounting and financial reporting to maximize property performance ✅ Management, engineering, and other services are available in over 60 countries ✅ Economies of scale allow for cheaper management | ❌ Poor online customer reviews from landlords ❌ Corporate services may make it hard for landlords to contact property managers ❌ No personal touch of a local property manager |
Best for Owner Support: Lincoln Property Management
Lincoln Property Management is a vertically-integrated real estate management company with over fifty years of experience. They’re the second-largest apartment manager in the country, with over 210,000 units under management (only matched by GreyStar)! Their local expertise is shown firm with regional offices throughout the United States.
Management Fees: Fees differ based on region, number of properties, and property type.
| Pros | Cons |
| ✅ Name recognition from a long-time trusted company means more tenant applications ✅ Local offices across 200 popular rental markets ✅ Exceptionally trusted among multifamily real estate investors | ❌ Focused more on multifamily than single-family rentals (sorry, small landlords) ❌ Fees can only be viewed after applying for a quote ❌ Only available in 27 of 50 states |
Best for Budget: Buildium
If you’re on a budget and want the benefits of property management without the high fee, Buildium could be for you. As the only non-traditional property management option on this list, Buildium offers self-management as a reasonably-priced property management software. This is the perfect option for new investors or those with a strictly residential portfolio.
Management Fees: $52/month – $479/month, depending on the plan. All options offer a free trial!
| Pros | Cons |
| ✅ Ultra-low-cost, even for landlords with high unit counts ✅ Tenant screening, lease document e-signing, and online payments for tenants ✅ Free trial allows any landlord to try Buildium for free! | ❌ Self-management, so will take more work than hiring a property manager ❌ Pricy fees for those not on more premium plans ❌ Only viable for residential real estate |
A Guide to Property Management
When looking for a property manager, knowing exactly what to expect is essential. Property managers are different, and you must find the right one for your needs. Here are some things to think about:
What is Property Management?
Property management is the process of finding and screening tenants, collecting rent, handling maintenance problems, and ensuring that your property is well-maintained between tenants. A good property management company can help you avoid costly mistakes by managing your investment properties professionally. In addition, they can provide a more passive income stream, so you’re not handling tenant issues yourself!
What Does a Property Management Company Do?
A property management company can help you find tenants, collect rent and handle maintenance problems. They will also screen potential tenants to ensure they are qualified and have good credit. Finally, when a tenant moves out, the company will clean the unit and market it so you can get new tenants quickly!
Here’s a more granular view of what property managers do:
Market Your Property
A property management company will market your properties to potential tenants, so you won’t need to do any advertising yourself. They can also help you find the right price for each unit and ensure that it’s priced competitively compared to similar rental units in the area. This will help you avoid having empty units!
Screen Tenants
In addition, the company will screen potential renters based on their income and credit history—so you don’t have to worry about bad credit tenants who will damage your property or skip out on rent payments without notice! Property managers will also check past landlord references to ensure a tenant is worth renting to.
Manage Maintenance and Repairs
If you’re a landlord, you know how stressful it can be to manage maintenance and repairs. Luckily, a property manager can take care of this for you! They’ll handle any issues that come up with your rental units and make sure they’re fixed as soon as possible.
Collect Rent
A property manager will collect rent from your tenants, so you don’t have to worry about sending out late notices or evictions. They’ll also ensure that your renters pay their rent on time each month and follow through with any legal actions if they don’t. If a tenant stops paying rent or moves out without notice, a property manager will help find new people to fill the space!
Benefits of Having a Property Management Company
Landlording on your own is something not to be taken lightly. As such, many real estate investors choose a property management company thanks to some clear benefits:
Lower vacancy rates
Property managers are around to get your units filled up and KEEP tenants happy. Their ongoing efforts provide lower turnover costs and higher occupancy for more consistent rent checks.
Fewer legal issues
Most newbie investors aren’t familiar with the ins and outs of rental property law. As such, they can make mistakes in leasing, security deposit collection, and other aspects of landlording that may cause future legal trouble. A property manager knows the lay of the land, keeping you in the clear.
Lower repairs and maintenance costs
Most property management companies will have some form of preventative maintenance, which will pay itself back as your furnaces, AC units, and appliances last longer.
Less stress
No one wants to answer a 2 AM tenant phone call. A property management company does this for you, so you don’t have to!
More time back on your schedule
Although it comes at a cost, property management companies allow you the time flexibility you have always dreamed of. Now, real estate investing can be TRULY passive!
How to Choose a Property Management Company
Choosing a property management company should not be done on a whim. So you’ll want to do some digging before hiring a property manager and ensure that they’re charging you for services that are well worth it.
- Ask around: Investors know what other investors need, so ask around! Start talking to other local real estate investors and get their take on who the best company, or individual property manager, is.
- Find out what services they offer: Property management companies are meant to put time back on your schedule, not take more away from it. So, ensure that this property management company has essential services like premium marketing, in-depth tenant screening, and dynamic pricing if your property is a short-term rental.
- Compare prices: Look around and see what rates and fees this property management company charges compared to others. If they have exorbitant fees for turnover and cleanings, it may be best to look into small, more local options. ALWAYS analyze your rental properties with a high property management fee included.
Final Thoughts on Property Management Companies
You can’t expect to know everything about property management, but it’s essential to be informed. After all, this is your business! At this point, you have some solid options for choosing a property management company. Think you’re better off on the self-management route? Check out our list of the best property management software!
Property Management FAQs
There are four main types of property management: residential, short-term (vacation), commercial/industrial, and special purpose. These cover the four main types of rental property and can either be self-managed or managed by a third-party property management company.
Property management companies typically charge a percentage of the rent. This is usually between 7-10% of your total rent collected, but exceptions exist. For example, some companies only charge an annual fee to manage a property, while most others charge a percentage of rent and a turnover fee for when renters move in or out.
Property managers handle everything from the initial application process to showing your unit, collecting rent, and handling maintenance issues. Many property management companies also offer additional services such as tenant screening, marketing, and accounting.
