Best property management companies

HUD estimates about 10 and 12 million landowners. A property managementbusiness guarantees a property's profitability, reputation, maintenance, and tenant occupancy. In addition, these organizations keep owners informed of the asset's performance indicators. Most landlords need a property managementbusiness because of the variety of local and property kinds.They handle the everyday challenges of financial and commercial property ownership. We compared 18 firms' offerings, costs, reporting capabilities, and interaction with owners and renters to come up with these eight winners. Listed below are some of our favorites.

• Greystaris the best overall.
• BH Management Servicesis the best for residential properties.
• Colliers Internationalis the best for commercial properties.
• Lincoln Property Companyis the best in terms of customer service.
• Apartment Management Consultantsprovide the best onboarding system.
• Buildium is the best value for money.

Greystar

To put it simply, Greystar is our top pick for property managementcompanies because of its "Beyond Expectations" slogan, its extensive variety of services for property owners, and its process-driven approach to improving efficiency, reducing investment risk, and boosting performance.

Pros

• The company's employees are taught to "think like owners."

• According the 2020 National Multifamily Housing Council, he is the top-ranked U.S. apartment manager.

• Prospective tenants' use of the apartment leasing website helps to maintain occupancy levels high.

Cons

• Alaska, Maine, New Hampshire, Rhode Island, and South Dakota have no properties available at this time.

With an owner-centric attitude, Greystar is our top pick for property managementbusinesses. Greystar, based in Charleston, SC, has extended to 192 markets and manages $29.3 billion in assets.

The firm provides a variety of property management services, including the following:

• Marketing and communications
• IT
• Property operations
• Financial services
• Master insurance programs
• Procurement
• Training and education

Greystar's property managementrates are based on the property's condition, location, and the services required. The charges of tenant placement, vacancies, early termination, and maintenance will also be negotiated. Accounting and finance, marketing, and regulatory compliance are all covered. Owners may use the Greystar Investor Portal to receive real-time information and track their property's performance.

BH Management Services

Smart Home Technology and Green Conservation are only two of BH Management Services' creative resident-attracting efforts that make it the best choice for administering residential properties countrywide.

Pros

• The Green Conservation program.
• Class A, B, and C properties are all under control.
• Smart home technology.

Cons

• Although the website is visually appealing, additional information about the company's services would be helpful to potential clients.

Our score was boosted by BH ManagementServices' industry-recognized sustainability practices. We have been managing US properties since 1989. It has roughly 2,400 workers and may expand. Services in design, construction, equity, and management. Business and financial management are handled by BHMS. The organization solely handles residential properties, reflecting its devotion to this area. Our Green Conservation program makes our homes healthier and more attractive.

Colliers International

Commercial property managementbusiness Colliers International manages over two billion square feet and offers a wide range of services.

Pros

• Owners get real-time data.
• Financial analysis to assure asset profitability.
• Focus on capital improvements to increase value to your home.
• An in-house technical staff that monitors and enhances building efficiency.

Cons

• Less focus on sustainability than rivals.
• A wide range of building styles might be difficult to master in any specialty.
• Listed, thus it's unclear who gets priority: building owners or investors.

Colliers is a secure choice for commercial propertyinvestors looking to reduce risk. The firm maintains commercial properties across 67 countries and employs over 18,000 workers. Our recommendation for the finest commercial property managementbusiness is based on expertise and profitability.

Lincoln Property Company

The Lincoln Property Companycreated a customer service award program with 15 different categories. Owners of award-winning homes can view them right away on their website, which makes them our top option for great customer service in the building industry.

Pros

• U.S.'s second largest apartment management firm.
• Manages 37,000 military houses for servicemen and women.
• SOC (Service Organization Control) compliant.

Cons

• There is a lot of centralization and regulation in management.
• Only 34 states now have properties managed by this company.

Lincoln Property Firm, our favorite property management company, regards its investors, residents, suppliers, and workers as valued clients. Since 1965, Lincoln Property Company acquires over $6 billion of multifamily developments and developed over 220,000 units valued over $14 billion. Each employee is thoroughly screened, resulting in a low yearly employee turnover rate.

Is it worth it to hire a property management company?

Having a property manager isn't just a good idea for most landlords; it's practically required. It's difficult or time-consuming for an investor to keep up with all the rules and regulations that come with owning &' leasing a property.The 8 percent to 12 percent of collected rental income are well worth the competence and professionalism required when dealing with renters and trade skills to maintain the rental in excellent working order.