Best Property Management Companies 2023 [Reviewed]

Leave the stress of rental property management to the professionals! Property management companies are here to take care of all the little details, from collecting rent to maintaining the property and handling tenant issues. With a wide range of rental properties under their care, including apartments, houses, commercial buildings, and vacation rentals, these experts have got you covered.

They’ll make sure everything is up to code and in compliance with local laws and regulations. Leave the headache to them and sit back and relax, knowing your rental properties are in good hands

What is the Property Management Company?

Property management companies are businesses that handle the day-to-day management of rental properties on behalf of the owner. This includes tasks such as collecting rent, maintaining the property, handling tenant issues, and ensuring compliance with local laws and regulations. They handle a variety of rental properties, including apartments, houses, commercial buildings, and vacation rentals.

Such companies can be a useful resource for property owners who don’t have the time or expertise to manage their rental properties themselves. By outsourcing these tasks to a property management company, owners can focus on other aspects of their business or personal life, while still receiving the financial benefits of owning rental property.

Property management companies typically charge a percentage of the rent collected as their fee for their services. Some may also charge additional fees for specific tasks, such as advertising the property or handling tenant evictions.

Best Property Management Companies reviewed for 2023

It’s important for property owners to carefully review the terms and fees of any property management company they are considering hiring to ensure they are getting the best value for their money.

After careful consideration of cost structures, customer service metrics, features, location and availability, we have compiled a list of the top property management companies to work with. Trust us, these are the cream of the crop. Take a look below to see for yourself:

• Greystar
• Lincoln Property Company
• Cushman & Wakefield
• WinnCompanies
• Belong Homes
• Vacasa
• Buildium

1. Greystar

Greystar is the best pick for rental property management. With nearly 30 years of experience and services across the US, Europe, and Latin America, they’ve got you covered for all types of rental properties – from single-family homes to commercial real estate.

Their reasonable pricing and exceptional customer service make them a top choice. And with a strong track record as one of the largest apartment building operators in the world, you can trust Greystar for investment management solutions as well.

Pros:

• Affordable pricing.
• Staff trained to prioritize owner perspective.
• Leasing website helps maintain high occupancy.
• Online portal for investor-owners.
• Global presence in the US, Europe, and Latin America.
• Ranks #1 among Top 50 US Apartment Managers (2020).

Cons:

• Tenant reviews mention unexpected fees at lease end.
• Tenants report slow repair times.
• Low BBB customer review rating (mostly from tenants, no investor complaints).
• Not active in Alaska, Maine, New Hampshire, Rhode Island, or South Dakota

2. Lincoln Property Company

Lincoln Property Company stands out for their exceptional customer support and A+ BBB rating. While their pricing is average for the industry, they offer a wide range of management services for all types of investments – real estate, stocks, even cryptocurrency.

Trust them as your one-stop shop for a busy, diversified portfolio.

Pros:

1. Strong customer service.
2. Many positive reviews from investors and owners.
3. Second-largest apartment management company in the US.
4. Nationwide company with 50+ years of experience.
5. Specializes in military family housing (37,000 homes).
6. SOC compliant.

Cons:

1. Negative tenant reviews.
2. No pricing information available.
3. Tenant complaints of poor maintenance.
4. Highly centralized and regulated management.
5. Limited geographic coverage (32 states).

3. Cushman & Wakefield

Cushman & Wakefield is a top choice for global real estate investment management. With a perfect score in customer care and availability in over 60 countries, they stand out in the industry. Their management tools make it easy to track investments, and they even help you find the best ones for your portfolio.

Just keep in mind that some service providers have reported payment issues and they cater more towards high-value investors.

Pros:

1. A+ BBB rating without paying for accreditation.
2. Global presence in over 60 countries.
3. Quality management tools for easy investment tracking.

Cons:

1. Some service providers report slow payment.
2. High-value property owners receive prioritized service.

4. WinnCompanies

WinnCompanies is a leading national property management company that focuses on sustainability and community involvement. Established in the 1970s, they manage a wide range of properties across 23 states and Washington, D.C., including affordable housing, commercial, military, and luxury residential developments.

They offer a range of services, including operations, maintenance, leasing, and financial services, and prioritize environmental standards and energy efficiency.

While they may not be the most budget-friendly option, they do provide custom reporting and audits for clients, and may offer a customizable online platform for owners to monitor their properties. Some tenants have reported longer wait times for maintenance

Pros:

1. Community-oriented
2. Sustainability-driven
3. Environmental focus
4. Community solar for utility savings
5. Dedicated customer support
6. Involved in the community

Cons:

1. Prices may be high
2. Some tenants have reported long wait times for maintenance
3. Environmental focus may not be cost-effective for new property owners
4. Pricing not transparent until negotiations as building owner.

5. Belong Home

Belong Home is a fantastic resource for homeowners looking to rent out their properties and for renters seeking new homes. Not only does it simplify the process of renting out properties, but it also offers full brokerage services with effective marketing strategies to ensure your home is rented out as quickly as possible.

For renters, the process of finding and applying for a new home is made easy with Belong Home. You can browse through listings and find a home that suits your needs and lifestyle, and even have multiple applications at a time. The $40 application fee covers your background and credit check, making the process even more convenient.

After a full year with Belong Home, all future applications will also be free of charge.

As a homeowner, you can also enjoy the benefits of working with Belong Home. There are no hidden fees to worry about, and in California, property management fees are tax-deductible. Belong Home only charges a 6% brokerage fee based on the location of your property, which can be easily estimated through their website.

With Belong Home Smooth Payments, you can choose how you receive your payments and even approve applications through the site or app.

Belong Home is a great resource for homeowners and renters alike, making the process of finding and renting a new home easy and stress-free.

Pros:

1. No contract or termination fee
2. Standard 50% placement fee and 8% monthly management fee
3. Guaranteed rent in case of tenant default or non-payment.
4. Smooth payments during vacant periods that are later deducted from monthly rent

Cons:

1. Ambitious rental estimate
2. Unit must be unoccupied to proceed.

Nice Video to see about Belong Home

6. Vacasa

Vacasa is a vacation property management company that helps you earn more revenue by renting your property at higher per-night prices. Using data-driven marketing, they fill properties as much as possible, leading to 20% more revenue per year than the average competitor.

Prices for their services are reasonable, and property owner support is excellent, but some renters have reported poor support and subpar cleaning and maintenance services.

Founded in 2009, Vacasa now manages 25,000 vacation homes and serves two million guests each year, offering a full package of services including cleaning, financial records, local guest support, online tours, professional writing and photography, reservation management, and thorough housekeeping.

Their costs depend on various factors, but they offer a single fee for essential services and have a “no nickel-and-diming” policy with no hidden fees

Pros:

1. Experienced in the vacation industry
2. Averages 20% more revenue per year
3. Uses data-driven marketing
4. Specializes in vacation rental management
5. Has over 299,000 positive reviews
6. Offers 3D tours of properties to attract renters.

Cons:

1. Long wait times for maintenance reported
2. Only operates in the vacation rental industry
3. Some tenants dissatisfied with rental quality
4. Limited coverage in central states.

7. Buildium

Buildium is a software solution that simplifies property management, offering tools for billing and the ability to track investments from anywhere. It’s suitable for small and large portfolios and easy to scale. Some users have reported fraudulent chargebacks and difficulty obtaining refunds, and there may be issues with customer service.

Every price plan includes features such as accounting, maintenance, tasks, violations, resident and board member communication, and online portals, as well as a marketing website, property inspections, tenant screening, eLeases, online payments, reports, and support. Prices start at $50 per month.

Founded in 2002, the company serves residential properties such as community associations, student housing, and affordable housing. It offers detailed online and mobile reports on accounting, operations, and leasing, and allows local property managers to access accounts.

Pros:

1. Experienced in the vacation industry
2. Averages 20% more revenue per year
3. Uses data-driven marketing
4. Specializes in vacation rental management
5. Has over 299,000 positive reviews
6. Offers 3D tours of properties to attract renters.

Cons:

1. Long wait times for maintenance reported
2. Only operates in the vacation rental industry
3. Some tenants dissatisfied with rental quality
4. Limited coverage in central states.

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