Having certified property management companies is one way to ensure that your facilities will be well maintained and managed. So, how do you go about picking a manager from a list of property management companies? How do you know what realty property management companies are worth the cost and narrow it down to the top property management companies?
Successful business owners often have solid real estate holdings to back up their investment portfolios. But owning property and operating a successful, liquid property management business are two different avenues entirely. Real estate is not easy money. Successful property management takes as much commitment and business savvy as any professional enterprise.
What you can expect from property management companies?
Property management companies act as intermediaries between property owners and renters. They may also look after vacant properties for absentee owners, or manage large properties that are owned by individuals or companies. Successful property managers are good with people, pay meticulous attention to detail, and are straightforward in their dealings with clients, tenants, and contractors.
Property management is the control and operation of real estate, personal property, equipment, or physical assets. It is most often referred to concerning the lease or rental of the property, in which a property manager handles the maintenance and day-to-day activities surrounding the property. In rental houses and apartments, this would include seeking occupants, and collecting rent payments regularly.
Top Property Management Companies
Based in Boston, Massachusetts, WinnCompanies happens to be one of the best property management companies that money can buy. They are dedicated to property owners and strive to “raise the standards of property management every day, one interaction at a time.”
They currently manage over 98,000 units throughout 570 different properties. Their operations occur throughout 22 states as well as the District of Columbia, and the portfolio is comprised of small buildings through large communities.
This best property management company offers accounting, financial reporting, asset-management, vacancy marketing, and leasing negotiations, and the 2,700 employees of WinnCompanies will be working to make your operations run smoother.
With a vast reach throughout the country and with almost 100,000 units under their management, WinnCompanies has the necessary experience to keep your units filled and generating income regularly.
Alliance is one of the largest private United States multifamily companies with offices throughout the West, Southwest, South-Central, Southeast, Mid-Atlantic, and Northeast. We have invested in more than $10 billion worth of real estate and manage a $20 billion portfolio with a focus toward superior local leadership and a comprehensive national support structure.
Another privately held company, Alliance Residential operates in 33 markets from its headquarters in Phoenix, AZ. They currently manage 88,028 housing units, with an additional 1,779 student housing units. Bruce Ward serves as the current Chairman of the Board and CEO.
Through strong communication, a vast network, and expertise, Alliance Residential Company is one of the best property management companies. With aggressive marketing capabilities, Alliance can reduce your vacancies and turnover times. Other services offered by Alliance are top-notch and include:
- Asset management
- Staff training & online support
- Custom leasing solutions
- Strategic marketing & public relations
- Value-added redevelopment
One thing to note is that Alliance Residential Company does not offer property management services in most of the Midwest region. From Ohio to the Dakotas, you will likely need to choose another company from the list of property management companies.
Apartment Management Consultants was founded in 2000 and quickly grew into one of the biggest players in the apartment management industry. They are another company that focuses on third party management and do not own or develop properties. The current CEO is Brenda Barrett, the only female CEO on our list of the 10 largest apartment management companies. Apartment Management Consultants is headquartered in Cottonwood Heights, Utah.
Apartment Management Consultants, LLC began in 2000 and has since grown to one of the top property management companies in the nation. Based in Cottonwood Heights in Utah, Apartment Management Consultants, LLC manages over 80,000 units.
They are committed to realizing the potential and maximizing earnings of the properties that they oversee. Through thorough analysis, strong resources, and years of experience, Apartment Management Consultants, LLC looks to deliver on that promise.
AMC is a low-cost operator, which will keep your profits high. They can offer systems coordination, LIHTC training, resident retention, asset accounting, accounts payable, and even rent collection. These services are just the tip of the iceberg with AMC, which makes them one of the best property management companies out there.
FPI Management, Inc. is another one of the top property management companies on the growing list of property management companies. Whether you have a midrise, high-rise, mixed-use, or still-under-construction building, FPI offers a variety of services.
Based in Folsom, California, this top property management company maintains and manages over 100,000 units throughout 13 different states. Their services cover student housing, senior housing, affordable housing, and even single-family homes.
From managing construction to maintenance tasks, FPI Management can offer you superior management services.
Founded in 1965, Lincoln Property Management has a mission to build and operate quality residential communities. During their early years, they realized how hard it was for owners to find the best property management company. So, they set out to be that company.
With expansions into major United States markets, the Lincoln Property Management Company has penetrated key areas. With over 170,000 units under its management, the company is currently the second-largest property management company in the U.S.
As one of the top property management companies, they offer asset management, financial sourcing, value-added redevelopment, and extensive property management services. With regional management teams throughout the country to lend local expertise, Lincoln Property Management easily makes the list of property management companies to consider.
Based in Dallas, Texas, Pinnacle offers property management and brokerage services, as well as real estate investments. With over 4,000 employees, they are considered one of the best property management companies.
This privately-held company has over 165,000 residential units under their management, with 2.5 million square feet of commercial space. The great thing about Pinnacle is that they offer services throughout 32 states. That wide reach and influence are what puts Pinnacle on the list of property management companies to consider.
The company specializes in third-party management of multifamily residential communities. They are one of the preferred companies and offer services from asset management to rent collection and leasing assistance. If you are looking for a company to manage the day-to-day operations of your facility, Pinnacle may be the best property management option for you. They have a wide reach and an outstanding reputation.
Property Management Software that Helps Them Convey the True Values
Given the expanding property rental market, new technologies have been finding their way into property management solutions. These modern platforms are sure to cover just about every property management process and task there is. As a result, this will help you achieve greater accuracy by automating the screening and inspections processes, stay on top of rental property performance, as well as take control and chase down new opportunities all in one property management website.
Managing rental properties comes with many duties including overseeing rental units, maintaining properties, screening tenants, marketing, accounting, and more. If you can’t handle all of this, your rental property management business is going to suffer. Unless, of course, you consider getting the much-needed help from property management websites.
In this digital age, technology has changed the real estate game. And with the increasing competition in this field, property management software and tools have become even more beneficial. There are lots of websites out there that help property managers streamline and automate tasks to operate more efficiently, reduce expenses and, thus, increase profits. Wondering which property management website is best for you? These are 4 of the best websites along with the tools/services they offer that’ll simplify your life as a property manager. Website presence is one of the elements which made these companies successful.
From all the best property management websites on this list, Mashvisor is the most unique. This is because the site offers various tools that several real estate professionals will appreciate. When it comes to rental property managers, Mashvisor created Mashboard to help them by using data. Besides allowing you to stay in touch with your clients more efficiently in an automated manner, it also allows you to scale your business. Instead of spending a lot of time chasing new leads, use Mashboard to identify which of your current clients are ready to buy a new investment property to add to their portfolio.
Mashboard also comes with another tool called the Property Recommender. This allows you to access a vast supply of properties from the MLS, Auction.com, and off-market properties. It automatically matches your client with the right property. Mashvisor pulls property data from reliable sources including Redfin and Zillow, crunches the numbers, and then presents them to you with a comprehensive analysis. Ultimately, this helps you succeed as a property manager as it saves time when evaluating properties and ensures that you’re showing your clients the perfect property for them.
Founded in 2006, Appfolio is now one of the most popular property management websites as it covers all the basic needs of a property manager. It’s a cloud-based system that provides several tools and features to help you automate your business and boost your rental property management career. The tools Appfolio provides include rent collection tools, accounting tools, marketing tools, maintenance request systems, and more. Plus, all of its features can be used from any device on-the-go.
A more unique service that Appfolio provides is that it helps you set up your own property management website so you can start building your online brand. Property managers appreciate their services regardless of the type of properties they’re managing. Hence, whether you manage multifamily homes, single-family homes, student housing, HOA, condo, or commercial properties, this website will help you streamline your workday.
#3: Rentec Direct
Rentec Direct is a suite of the property management company, who provides software designed to help you build your company’s brand from the ground up. It includes the basic functions for rent collection and maintenance that you can find in similar applications. There’s also thorough reporting on potential tenants, including comprehensive background screening. The difference with Rentec Direct is their excellent website builder.
Rentec Direct allows you to perform the vast majority of your management functions online. You can create and store custom forms for all of your buildings and units. These are easy to share with applicants and tenants. You’ll even be able to accept electronic signatures. That means neither you nor your tenants will have to spend time and effort printing, signing, and scanning documents.
Through Rentec Direct’s maintenance work order platform, it’s easy to keep your properties in good shape. Your tenants can quickly submit requests for work. You can then assign those work orders to a selection of trusted vendors. You’ll be able to track the entire process online, sharing and requesting pictures to make sure the work gets done right. This system can prevent a small problem like a dripping faucet from becoming a full-blown property damage disaster.
Rentec Direct provides you with a free professional website. The site can be customized to a great degree of specification. You’ll be able to include listings throughout its pages. Potential tenants will have access to application and contact links, as well. Property managers can use the reports generated by the site to enhance their relationships with tenants and applicants. Some users complain that the site can be a bit slow when loading multiple reports at once. If you don’t mind the wait, however, you’ll be able to access a lot of useful data.
#4: MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. It offers comprehensive technology for managing rental properties -commercial and residential. This includes marketing rentals, screening, and inspections. It gives your staff the tools to improve engagement and communication, plus allows you to strategically manage and analyze your entire portfolio. With the tools that MRI Software provides, you’ll have the ability to run your business without compromise!
The Bottom Line
If you find yourself one of the top property management companies to manage your facilities, you will likely find yourself less stressed and with more free time. You will no longer be bogged down with tenant phone calls and late-night maintenance requests. The trick is finding the best property management companies from a large list of property management companies. There are many options, so it is important to put thought and effort into the search process.
Through these companies, you can see features they have to offer and learn how you can boost your property management career!
These are all important things to focus on throughout the search process. You don’t want to find yourself suddenly in the red because a property management company cuts into your profits too much. Also, you need to decide if the freedom and peace of mind are worth the price that top property management companies fetch.
Be sure to examine several options from the list of property management companies carefully. You must do thorough research to determine if a company is the best property management company for you. This is not a one size fits all operation, so take your time and make an informed decision. Besides, modern businesses must ensure that they are not left behind. An online presence is one of the most important investments that a business can make. Don’t hesitate to contact us to expand your business in this digital age.