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Successful real estate investing does not end with buying a rental property. The next step is finding the most appropriate management method for your needs as an investor and the needs of your property. If you invest away from home or do not have the time to be a full-time landlord, it’s a smart move to hire a professional property manager.
With so many property management companies in the US market, it’s hard to choose the top one. In this article, we reviewed dozens of leading companies to choose the 6 best ones, for different categories and different types of rentals. We looked at the services they provide, the markets they cover, the property types they manage, the fees they charge, and what existing customers think about them.
The best property management companies are:
- HomeRiver Group: Best Long-Term Rental Property Management Company
- Awning: Best Short-Term Rental Property Management Company
- Greystar: Best Property Management Company for Apartment Rentals
- Mynd: Best Property Management Company for Single-Family Rentals
- Bozzuto: Best Property Management Company for Luxury Apartment Rentals
- Buildium: Best Half-Service Property Management Company
How We Selected the Best Property Management Companies
To choose the best property management companies in the US market, we looked at a number of different criteria. We talked to both property owners and renters and did our due diligence. Moreover, we evaluated customer reviews of each company.
In our selection process, we focused on the following factors:
- Services: We looked at the exact services that each property manager provides and whether they are a full-service or half-service property management company.
- Market coverage: We considered if a company covers the entire US market or is limited in score to certain geographies.
- Property type coverage: We checked if a company manages different types of residential properties or focuses on a single type.
- Business model: We investigated whether a property manager makes use of the latest technology while retaining human touch.
- Cost and charges: We had a look at the pricing structure to see if it covers all services or some additional services are paid for separately.
- Online reviews: We checked the online presence of property management companies and what property owners and renters think about them.
- Value for money: We searched for the best value for money in the US market.
HomeRiver Group: Best Long-Term Rental Property Management Company
HomeRiver Group is the largest third-party property management company in the US market, specializing in single-family and small multi-family homes as well as HOA communities. This is a full-service long-term rental property manager which covers all the responsibilities of a landlord.
John Hirschfeld, Andrew Propst, Doug Dale, and Joshua Bangert founded the company in 2016 by bringing together several property management companies across the US. The company headquarters are in New York, NY. The mission of HomeRiver Group is to be the premier national residential property management company in the US, dedicated to serving both owners and tenants.
HomeRiver Group Property Management Services
HomeRiver Group aims to be a one-stop-shop for all services related to managing a long-term rental property. The company offers standardized best practices across the country, state-of-the-art technology, and efficiency of scale.
The property management services covered by HomeRiver Group include:
- Renovation
- Leasing
- Management
- Maintenance
- Comprehensive, real-time reporting to property owners
HomeRiver Group Locations
HomeRiver Group operates in 32 US states, with a presence in one to eight major cities in each of these states. The company has achieved this market coverage mostly by acquiring local property management companies and turning them into partners.
Currently, HomeRiver Group manages 40,000+ long-term rentals in addition to HOA communities with another 30,000+ properties. Property owners include institutional, middle-market, and individual real estate investors.
HomeRiver Group Property Types
The HomeRiver Group property management company works with apartments, single-family homes and small multi-family homes. They also specialize in HOA management.
HomeRiver Group Costs
As HomeRiver Group operates as a network of local rental property management companies, it doesn’t have a single, unified fee structure. Each local brand has its own property management fees, whether as a percentage of the monthly revenue or a fixed fee. The fees depend on the location, the property type and size, the size of the property portfolio, and the level of services required. The owners of larger properties and more sizable portfolios are charged less. Fees rarely exceed 10% of monthly rental income.
HomeRiver Group Terms
The HomeRiver Group website does not provide information whether property owners are expected to sign a written property management agreement and whether long-term commitment is needed. There is no clarity on the rights and responsibilities of either party.
HomeRiver Group Reviews
There are 1,000+ online reviews of HomeRiver Group, and they show mixed experiences by both property owners and tenants. The quality of services seems to vary from market to market and from individual manager to individual manager.
You can find HomeRiver reviews on:
- Birdeye: Currently 4.1/5 stars based on 607 reviews, including 605 Google reviews
- Google: Currently 4.1/5 stars based on 561 reviews
- Yelp: Currently 1.5/5 stars based on 404 review
- BBB.org: Currently 1.1/5 stars based on 106 reviews
- Facebook: Currently 2.1/5 stars based on 20 reviews
Happy property owners praise the excellent services which HomeRiver Group provides, the communication process, and the high-quality tenants that they find. Unhappy investors complain about poorly maintained properties, pending issues, and lack of customer support.
Meanwhile, positive reviews from tenants focus on the ability to find properties quickly, the nice homes, and the strong customer support team. Positive reviews focus on the services provided by a specific manager rather than the company. Negative reviews talk about unreasonably high charges and long delays in communication after signing a lease agreement.
While HomeRiver Group manages a few different residential properties, what makes it unique is the management of entire HOA communities. If you invest in such a community, it’s worth considering this company.
To get started with the best overall property management company real estate investors can submit an online form via HomeRiver Group or call 415-610-7867.
Awning: Best Short-Term Rental Property Management Company
Awning is the best property management company for vacation rentals in the US market. The company provides full-service management which allows Airbnb hosts to earn passive income while the performance of their short-term rental is optimized by a mix of the latest technology and expertise in the local market.
Shri Ganeshram and Danaus Chang founded Awning in 2020, with headquarters in San Francisco, CA. The company mission is to make investing in real estate rental properties simple and accessible for everyone.
Awning Property Management Services
Awning offers comprehensive services, from getting properties ready for listing to all day-to-day tasks. These include:
- Interior design (headed by the ex-Head of Design at Airbnb)
- Vacation rental furnishing
- Smart home devices installation including smart locks, smart thermostats, and smart TVs
- Getting short-term rental licenses and permits
- Vacation rental insurance
- Dynamic pricing for optimized Airbnb SEO and occupancy rates
- 24/7 guest communication and support, including industry-low average response time of 5-15 minutes
- Cleaning, laundry, and restocking between guests
- Swimming pool, hot tub, and lawn maintenance
- Property maintenance, inspections, and repairs
Awning Property Management Locations
Awning manages short-term rental properties across the entire US market. This nationwide coverage is achieved by setting up teams of vetted local experts even before onboarding properties in a market.
Currently, Awning manages 100+ vacation rentals.
Awning Property Types
Awning property management services are available for all conventional residential property types. Whether you invest in a single-family home, a condo, an apartment, or a townhouse, the Airbnb manager can take care of it.
Awning Property Management Costs
Awning charges the lowest fees among full-service Airbnb property managers in the US. Rates start at 15% of monthly rental income, compared to industry averages ranging around 25%-45%. It achieves this low rate by using the latest technology to automate aspects of property management so that human resources focus on areas which require human expert intervention.
Awning Property Management Terms
Awning requires annual property management agreements. Property owners have the option to cancel the contract or sometimes try Awning out without signing an annual contract.
An important difference between Awning and other best Airbnb management companies is that Awning lists properties under the name of the owner. This means that if owners decide to stop working with the company, their property gets to keep all reviews that it has generated while being managed by Awning.
Awning Property Management Reviews
There are a couple of dozen online reviews of Awning which reveal positive experiences.
You can find Awning reviews on:
- Trustpilot: Currently 11 5.0/5 star reviews
- BiggerPockets: Currently a few 5.0/5 star reviews
Meanwhile, Airbnb rental properties managed by Awning have generated an impressive rating of 4.8/5 stars on the listing platform.
Positive reviews by satisfied Airbnb guests highlight the wonderful properties, the top locations, the well-stocked rentals, and the helpful team.
Awning is the best full-service property management company in the US market specializing in vacation rentals. They provide truly comprehensive services at an industry-low rate.
To get started with Awning, property owners should schedule a call to discuss their property with an Awning advisor. The onboarding process is simple, and the Awning team has experience both onboarding new properties and taking over management from another company.
Greystar: Best Property Management Company for Apartment Rentals
Greystar is one of the largest property management companies in the US which operates globally, available in 227 markets worldwide. They work with different types of apartment buildings to meet the needs of various investors and tenants.
Bob Faith founded Greystar in 1993, with headquarters in Charleston, SC. The company mission is to be a leader in the rental housing industry delivering world-class services to investors, property owners, and residents.
Greystar Property Management Services
As a full-service property manager, Greystar delivers end-to-end property management services for apartment properties. Services include:
- Property operations
- Business management and administration
- Due diligence
- Financial services
- Insurance programs
- Marketing and communications
Greystar Locations
Greystar property management services are available in 161 US markets and in Mexico, Europe, Asia Pacific, and South America. The company covers 227 global markets.
Greystar manages nearly 747,000 units and beds in the US, while the global number is close to 794,000 units and beds.
Greystar Property Types
Greystar manages apartments and provides different types of housing. This includes conventional, rise up, high rise, student living, single-family rentals, mixed use, affordable housing, senior living, and receivership.
Greystar Costs
The Greystar website does not provide information on the property management fees and cost structure. Property owners need to contact the company to get this information.
Greystar Terms
Greystar does not offer details on the property management agreement between investors and the company. Thus, investors need to contact a Greystar representative to get a copy of the contract before deciding if this is the best property management company for their needs.
Greystar Reviews
There are 2,000+ online reviews of Greystar that show both positive and negative experiences.
You can find Greystar reviews on:
- VeryApt: Currently 7.2/10 stars based on 1,892 reviews
- BBB.org: Currently 1.02/5 stars based on 102 reviews
- Yelp: Currently 1.0/5 stars based on 44 reviews
- Trustpilot: Currently 1.7/5 stars based on 26 reviews
Satisfied tenants praise the great properties, the beautiful views, the wonderful, strategic locations, the exceptional amenities, and the responsive management team. Dissatisfied renters complain about the high rents, the poor value for money, the inability to fix issues with neighbors, the unhelpful and incompetent team, and some unethical practices.
Unlike other best property management companies, Greystar offers global best practices in long-term rental management. This is a top option for investors with apartment buildings.
To get started, you can visit the Greystar website or call 843-579-9400.
Mynd: Best Property Management Company for Single-Family Rentals
Mynd is a full-service long-term rental property management company that focuses on short-term rental properties.
Doug Bried and Colin Wiel founded Mynd in 2016, with headquarters in Oakland, CA. The company mission is to bring together world-class technology and local expertise in order to make investing in short-term rentals simple and convenient for investors while also making finding great homes to rent better for residents.
Mynd Property Management Services
Mynd provides an all-in-one property management package for residential properties. Services include:
- In-house support
- Coordination of specialized services with established third-party vendors
- Leasing
- Maintenance and repairs
- Renovations
- Residents management
- Streamlined communication
- Financial health reports
- Single property or entire portfolio tracking
- Up to $5,000 rental income guarantee in case of rent payment delays
- Up to $5,000 eviction protection plan to cover court costs and legal fees in the rare case of tenant eviction
Mynd Locations
The Mynd property management company operates in 25+ markets in 12 US states. These include AZ, CA, CO, FL, GA, IN, NC, NV, OR, TX, TN, and WA.
Currently, Mynd manages 11,000+ single-family rentals.
Mynd Property Types
Mynd works only with single-family properties. Single-family homes make for ideal long-term rental investment properties in most US markets.
Mynd Costs
Mynd charges upfront and flat fee pricing instead of percentage of rental income like most other property managers. The pricing rate varies by location and portfolio size, so investors need to contact Mynd to get a quote. In Orlando, FL, for example, the monthly fee is $99 for one property, $89/property for two properties, and $79/property for three properties.
Mynd Terms
Mynd does not provide a copy of the rental property management agreement online. There are no details on what the exact rights and responsibilities of the company and of property owners are. It is not clear if there is a minimum length for which owners need to commit to work with Mynd before termination.
Mynd Reviews
There are nearly 2,000 online reviews of Mynd property management services. Many of them show positive experiences.
You can find Mynd reviews on:
- Trustpilot: Currently 4.4/5 stars based on 1,589 reviews
- BBB.org: Currently 2.88/5 stars based on 308 reviews
- Yelp: Currently 1.5/5 stars based on 117 reviews
Positive Mynd reviews emphasize the quick response to tenant issues, the professional maintenance, the smooth and efficient communication process, and the personal approach of the support team. Negative reviews complain about poorly maintained and dirty properties, overpriced rental rates, bad neighborhoods, unreasonable lease terms, and lack of tenant care and support.
Mynd is a good property management company for investors who opt for single-family rental homes. You can invest out of state and rest assured that your property is well taken care of.
To get started, property owners can visit the Mynd website or call 833-367-6963.
Bozzuto: Best Property Management Company for Luxury Apartment Rentals
Bozzuto is one of the best property management companies in the US, especially for luxury apartments in select communities. It is a full-service property manager.
Tom Bozzuto, John Slidell, Rick Mostyn, and Bernie Lubcher founded the company in 1988, with headquarters in Greenbelt, MD. Being a generationally owned and independently operated family business, Bozzuto aspires to build vibrant communities in the markets where it operates.
Bozzuto Property Management Services
As a full-service long-term rental property manager, Bozzuto provides the following services:
- Branding
- Design
- Leasing
- Property management
- Financial analysis
- Tenant coordination
- Sustainability
- Maintenance
Bozzuto Locations
Bozzuto works in 16 US states including CA, CT, DE, FL, GA, IL, MA, MD, NH, NJ, NY, PA, RI, VA, WA, and WI and DC. Currently, the company manages 80,000+ residences in luxury apartment communities.
Bozzuto Property Types
Bozzuto only manages luxury apartment communities. These include Class A properties only.
Bozzuto Costs
Bozzuto does not provide information on its property management fees and costs. Pricing is likely to depend on the market, property size, and property portfolio.
Bozzuto Terms
The Bozzuto website does not discuss the rental property agreement which property owners need to sign. It’s not clear if long-term commitment is required.
Bozzuto Reviews
There are fewer than 100 online reviews of Bozzuto, and they reveal generally negative experiences.
You can find Bozzuto reviews on:
Satisfied tenants highlight the quick responses, the ability of the company to fix issues, and the amenities available in the properties. Dissatisfied renters discuss unresponsiveness to tenant requests, inability to resolve issues with neighbors, health-hazard situations, and rent increases with short notice.
The property management services provided by Bozzuto make it a good choice for the owners of luxury apartments for rent. The company will allow them to earn truly passive income.
To get started, property owners can visit the Bozzuto website or call 301-220-0100.
Buildium: Best Half-Service Property Management Company
Buildium is a technology-based property management solution that helps landlords and property managers simplify and optimize the management of long-term rentals. As it focuses on automation, this is a half-service property management company which does not provide fully passive income to rental property owners.
Michael Monteiro and Dimitris Georgakopolous founded Buildium in 2014, with headquarters in Boston, MA. Buildium is a RealPage company. The company mission is to be more than a property management solution in order to empower investors and property managers to do more than just managing properties.
Buildium Property Management Services
As a half-service property manager, Buildium focuses on the automation of services through technology. Provided services include:
- Property accounting
- Online rent collection
- Maintenance requests
- Tenant screening
- Property management website
- Online leasing
- 1099 e-filing
- Rental listing syndication
- Access to partner property management software tools
Buildium Locations
As a technology property management platform, Buildium is not limited by geographical location. It is available for property owners in the entire US market.
Buildium Property Types
The Buildium rental property management software can be used on various residential property types. There are no limits.
Buildium Costs
Buildium offers three different subscription plans: Essential, Growth, and Premium. The Essential plan covers all the needs of individual real estate investors, even if they own several long-term rental properties. The cost of the Buildium Essential plan starts at $52/month, when paid monthly. Property owners can save 10% with annual subscription.
Buildium Terms
Using the Buildium property management software does not come with any special terms and conditions. The only exception is that the Premium plan is available exclusively with annual subscriptions, but this plan is meant for large property managers, not for individual investors.
Buildium Reviews
There are thousands of online reviews of Buildium which show positive experiences.
You can find Buildium reviews on:
- GetApp: Currently 4.5/5 stars based on 1,900 reviews
- Capterra: Currently 4.5/5 stars based on 1,951 reviews
- Trustpilot: Currently 3.1/5 stars based on 416 reviews
- G2: Currently 4.3/5 stars based on 157 reviews
Happy property owners and property managers highlight the comprehensive features, the smooth processes, the tenant satisfaction with online services, and the customer support team. Unhappy customers highlight the user-unfriendly interface, unexpected charges, and the lack of communication on behalf of the support team.
While Buildium was built with the needs of professional property managers in mind, the software can also help individual investors automate and optimize the management and performance of their long-term rentals across the US. This half-service provider is good for property owners with a few rentals in their portfolio who’d like to be involved in the management of their rental business.
To get started, property owners can visit the Buildium website or call 877-396-7876.
Takeaway
HomeRiver Group is the best property management company for long-term rentals, while Awning is the top choice for short-term rentals in the US market. If you want to invest in apartment rentals, it’s worth also checking out Greystar and Bozzuto. For property owners who’d like to play an active role in the management of their property but need some extra help, Buildium offers the right software platform.
Awning is the best short-term rental property management company in the US market, offering end-to-end services for Airbnb investors. Our services include 24/7 guest communication, dynamic pricing, calendar management, and more, and are available in all 50 states. Plus, our fees start at just 15% of your revenue, with no extra charges or fees. Call or text 415-223-2830 to learn more and get started.
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