When people purchase apartments or condominiums to rent out, they need to work as the landlord. However, this can be a tedious or impossible task for many people.
There’s a lot involved in the process of property management. Rather than take it all on for themselves, many investors will instead choose a property management company or firm.
Property managers are often grouped together into firms. This gives more resources to the property manager and can make their job a bit easier. Property managers or firms do cost money however. This can eat into the rental income somewhat. Using a firm means you aren’t employing a single person as a property manager and saves a lot of time. This article is dedicated to examining some of the biggest property management companies and firms out there.
1 - Lincoln Property Management
While not as big as Greystar, Lincoln Property Management does manage an impressive number of units. They are currently over 184,000 units. While managing property is job one, there’s also some other aspects to the business they focus in. Lincoln is very involved in helping military personnel and developing housing for the military nationwide. They also do a large amount of work in developing property and rehabilitating properties that are highly damaged.
2 - Greystar Real Estate Partners
If you’re interested in having Greystar manage your property for tenants, then you’re looking at the largest property management company in all of America. There’s 12000 employees working for Greystar across the world and they manage over 400,000 units by themselves in the United States. In many cases, Greystar may improve or invest in the actual properties they are managing, allowing for profit to property owners.
3 - Alliance Residential
Alliance residential is a huge real estate development company that also has a large reach in the property management game. They function in over 20 states and have over 100,000 units that are managed. Alliance Residential has a lot of specialists that focus on issues like marketing and managing assets. This allows people using this property management firm to seek an expert when dealing with them.
4 - Pinnacle
Pinnacle is another huge property management company and they have over 172,000 different units that they manage. Pinnacle features a diverse portfolio of properties. They aren’t just residential, but also have senior properties, commercial properties and some student housing that they manage as well. Pinnacle is also a company to be contacted and offers their assistance to condo associations and homeowner associations.
5 - BH Management, LLC
This is the property management division of BH companies. BH actually has a huge number of divisions including their architecture, construction and equities group. They really have their finger dipped into every aspect of the real estate market and game. While not quite as large as some of the other companies on this list, BH Management, LLC still has a pretty impressive 67,000 properties that they manage all told. When you choose BH, you get access to the multiple different divisions of the company, which can really be a huge benefit to many real estate investors.