2017 RANKING & REVIEWS
TOP RANKING BEST PROPERTY MANAGEMENT COMPANIES
Keep Your Properties Well Maintained with the Top Property Management Companies
Managing properties can be a tricky business. You may think investing in some income property is a good idea, but it is important to know what comes with that extra income.
When your tenant’s furnace breaks at 7pm in the dead of winter, you will be receiving a phone call. If there is extensive damage done and you don’t have concrete leasing language, you will be picking up that bill. If you are unable to show apartments when there’s a vacancy, the vacancy will last.
There is a lot that comes with owning rental properties, most of which is not glamorous or fun. That is why property management companies offer property management services to rental property owners. They can take over the day-to-day management of your facilities and allow you to carry about your day without being bothered.
The trick is finding a good property management company. Sure, you can visit Craigslist and choose a property manager from there, but there’s no guarantee what you will actually be getting. Having a certified property management company 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 company?
Award Emblem: Top 6 Best Property Management Companies
When you are going through the selection process, you will likely have questions, including:
- What property management services are available to me?
- Will real estate property management companies fill tenant vacancies?
- How do you choose from the list of property management companies?
- What are the top property management companies?
Throughout our 2017 guide, we will answer these questions about real estate property management companies. We will explain how property management companies can benefit you and what to look for in them. Finally, we will provide a detailed review of the top property management companies out there.
AdvisoryHQ’s List of the Top 6 Best Property Management Companies
List is sorted alphabetically (click any of the realty property management companies below to go directly to the detailed review section for that certified property management company site):
- Alliance Residential Company
- Apartment Management Consultants, LLC
- FPI Management, Inc.
- Lincoln Property Company
Top 6 Best Property Management Companies | Brief Comparison & Ranking
Best Property Management Companies
Units Managed in 2016
|Alliance Residential Company|
|Apartment Management Consultants, LLC|
Cottonwood Heights, UT
|FPI Management, Inc.|
|Lincoln Property Management|
Table: Top 6 Best Top Property Management Companies | Above list is sorted alphabetically
Detailed Overview: What a Good Property Management Company Will Do for Your Property
Hiring a good property management company certainly has its perks. Many property management services are offered that could help your property run smoother.
Imagine a world where you won’t be getting constant phone calls from tenants who have a leaky pipe, who want extension on their rent due date, or whose sidewalk hasn’t been shoveled yet.
The calls quickly add up, especially if you own a larger property or several properties. The stress can weigh you down and even make you reconsider owning income properties.
Image Source: Real Estate Property Management
Thankfully, property management companies are here to help with that. If you’re still up in the air about whether to hire a real estate property management company, consider the following:
Shortened Vacancy Cycle:
Property management professionals are responsible for filling vacancies in your buildings. They have more tools, knowledge, and time to list vacancies, and they can turn around units quicker for new tenants to move in. This enables them to get your vacancies filled in a quicker manner.
Better Quality Tenants:
The top property management companies have experience with locating new tenants, as well as software that enables them to screen applicants. They are also likely to pull in more applications, which allows you to be pickier about who you let into your buildings.
Better Tenant Retention:
Happy tenants tend to stay tenants. If you have a company managing maintenance on a timely basis and that is always on hand to answer questions, chances are that your tenants will stay happy and stay put! Fewer turnovers mean less costs and more income for you.
More Organized Rent Collection:
Having a certified property management company working for you can help shore up the rent collection process. They will be able to act as the “bad guy” and keep you from falling victim to sob stories and requests for extensions on rent.
They will simply enforce the terms of the lease, and tenants are more likely to fall into line when a realty property management company is behind the reins.
Lower Repair & Maintenance Costs:
One of the most beneficial property management services that these companies bring is access to their in-house maintenance staff. This means you won’t be calling local plumbers or HVAC contractors who charge premium prices for rush jobs.
Property management professionals also have more connections and can get discounts on replacement parts and contractors.
Better Organization & Less Stress:
One of the best things offered by a good property management company is peace of mind. You will be able to offload the daily tasks of running a property to these organized management professionals, which means less tenant interaction and less stress on your end. This frees you up to enjoy your life – and the extra income that your properties generate.
As you can see, having the best property management companies running your property can be a huge asset. Not only does it free you up, but your property will likely run much smoother. That makes a happier life for you and your tenants.
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AdvisoryHQ’s Selection Methodology
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Detailed Review – Top Ranking Best Property Management Companies
Below, please find the detailed review of each top property management company on our list of property management professionals. We have highlighted some of the factors that allowed these property management companies to score so highly in our selection ranking.
Alliance Residential Company Review
Led by Bruce War and V. Jay Hiemenz, Alliance Residential Company is one of the best property management companies in the United States.
They are the seventh largest property management company in the nation. They currently manage 88,028 housing units, with an additional 1,779 student housing units.
Through strong communication, a vast network, and expertise, Alliance Residential Company is one of the top 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.
When it comes to managing your property, Alliance Residential Company might be the best property management company for you. They offer services throughout the country – with the exception of the Midwest – and can help keep your units occupied.
Apartment Management Consultants, LLC Review
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.
Image Source: Best Property Management Companies
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.
When it comes to the litany of services offered, Apartment Management Consultants, LLC might be the best property management for you. They have expertise and a strong history of minimizing costs.
FPI Management, Inc. Review
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 has the ability to offer you superior management services.
The lone drawback with FPI Management, Inc. is that they do not have as widespread a reach as other property management companies do. That being said, they offer services to a wide range of unit types, which is extremely beneficial.
Lincoln Property Management Review
Founded in 1965, the 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 is 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.
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.
Conclusion – Top 6 Best Property Management Companies
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 the large list of property management companies. There are many options, so it is important to put thought and effort into the search process.
When you are trying to determine what you are looking for in a property management company, and what the best property management company is for you, ask the following:
- Do you have a budget for hiring a property management company?
- Do you want the best property management company, or a cheap property management company?
- Are you looking at a list of property management companies that serve your area?
- How can the best property management companies improve your property?
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. In addition, you need to decide if the freedom and peace of mind is worth the price that top property management companies fetch.
Be sure to examine several options from the list of property management companies carefully. It is important that you 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.
AdvisoryHQ (AHQ) Disclaimer: Reasonable efforts have been made by AdvisoryHQ to present accurate information, however all info is presented without warranty. Review AdvisoryHQ’s Terms for details. Also review each firm’s site for the most updated data, rates and info. Note: Firms and products, including the one(s) reviewed above, may be AdvisoryHQ's affiliates. Click to view AdvisoryHQ's advertiser disclosures.
AdvisoryHQ (AHQ) Disclaimer:
Reasonable efforts have been made by AdvisoryHQ to present accurate information, however all info is presented without warranty. Review AdvisoryHQ’s Terms for details. Also review each firm’s site for the most updated data, rates and info.
Note: Firms and products, including the one(s) reviewed above, may be AdvisoryHQ's affiliates. Click to view AdvisoryHQ's advertiser disclosures.