Top Multifamily Property Management Companies in the U.S. (2025)
Looking for the best multifamily property management companies in 2025? Here’s a quick rundown of the top players in the U.S., managing everything from leasing and maintenance to tenant relations and financial oversight. These firms are shaping the rental housing market, navigating challenges like a 6.5% vacancy rate and a 93.9% occupancy rate, while staying ahead of trends like eco-friendly apartments and smart home technology.
Key Highlights:
- Greystar Real Estate Partners: The largest in the U.S., managing 946,742 units, with a focus on resident rewards and expansion in active adult communities.
- Asset Living: Manages 291,322 units, excelling in student housing with a 95% occupancy rate.
- RPM Living: Rapid growth with 226,169 units, expanding in markets like Nashville and Las Vegas.
- Willow Bridge Property Company: Managing 220,676 units, recently expanded with a 10,000-unit acquisition in the Carolinas.
- Cushman & Wakefield: Known for regional dominance, managing 167,000 units with strong performance in the South.
- FPI Management: Balances market-rate and affordable housing with 167,000 units across 21 states.
Quick Comparison:
| Company | Units Managed | Key Strengths | Recent Growth |
|---|---|---|---|
| Greystar | 946,742 | Rewards programs, active adult communities | Acquired Wood Partners’ portfolio |
| Asset Living | 291,322 | Student housing leader, 95% occupancy | Expanded by nearly 90,000 units |
| RPM Living | 226,169 | Focus on emerging markets | Added 75,000 units since 2023 |
| Willow Bridge | 220,676 | Strategic acquisitions in the Carolinas | Acquired 10,000+ units in 2025 |
| Cushman & Wakefield | 167,000 | Regional expertise in the South | Strong absorption in key markets |
| FPI Management | 167,000 | Affordable housing expertise | CoStar Impact Award for new projects |
These companies excel by addressing market trends, maintaining high standards, and delivering exceptional tenant experiences. Read on to learn how they’re leading the multifamily property management industry in 2025.
How Revenue Management Impacts Multifamily Real Estate Management with Dom Beveridge
1. Greystar Real Estate Partners
Greystar Real Estate Partners stands at the forefront of the multifamily property management industry, managing an impressive 946,742 units across the United States as of January 1, 2025 [2].
During 2024–2025, the company made a strategic move by acquiring Wood Partners' portfolio, which added 38,000 Class A units across 17 states [7]. Headquartered in Charleston, South Carolina, Greystar operates 47 offices throughout North America [5]. The company's recent expansions include:
- New locations in the Midwest, specifically Missouri and Indiana
- Growth in the Pacific Northwest market
- Three additional offices in the Northeast corridor, established in 2024 [4]
"Our Core Values and our people are at the heart of everything we do. Though times and technology may change, it's our people who have made Greystar the global leader in rental housing." – Bob Faith [1]
In March 2025, Greystar teamed up with Bilt to launch a rewards program across nearly 900 communities [6]. This initiative allows residents to earn points on rent payments, boosting overall satisfaction and engagement.
By the Numbers
Here are some key figures that highlight Greystar's scale and influence:
- 946,742 total U.S. units managed [2]
- 122,545 units owned [2]
- $320 billion in assets under management [5]
Greystar is also extending its footprint in the active adult community sector, with plans to expand into three to four additional states [4]. With its rapid growth and resident-focused programs, Greystar continues to set a high standard in the property management industry.
2. Asset Living
Asset Living, the second-largest multifamily property management company in the U.S., has seen impressive growth. Its portfolio expanded from 202,748 units in 2023 to 291,322 units by January 2025 [9][3]. This level of growth highlights its strong position in the highly competitive multifamily property management sector.
With operations spanning more than 40 states and a workforce of over 8,000 employees [10], Asset Living has established a significant national presence. The company operates out of nine corporate offices [12] and has been the No. 1 third-party student housing property manager for 14 consecutive years, as recognized by Student Housing Business [15]. Additionally, it boasts a 95% occupancy rate in the student housing sector [16].
"Since 2010, this recognition has been a testament to one simple truth: great teams achieve extraordinary results. At Asset Living, we don't measure success by rankings alone - we measure it by the communities we create and the lasting impact we leave on those we serve. We're excited to carry this momentum into 2025 and continue delivering exceptional experiences for our residents."
- Ryan McGrath, Asset Living Chief Executive Officer [15]
Performance Metrics
Several key performance indicators reflect Asset Living's success:
- 65% resident retention rate [13]
- 5 million residents served since its founding in 1986 [13]
- Over 1 million students housed since 1998 [15]
Asset Living provides a wide range of property management services, including:
- Multifamily communities
- Student housing developments
- Affordable housing properties
- Build-to-rent communities [14]
The company’s ability to combine local market knowledge with advanced property management solutions has earned the trust of over 500 clients nationwide [10][11]. These strengths underline its operational excellence as we move on to evaluate the next firm in our rankings.
3. RPM Living
RPM Living holds the third spot among U.S. apartment management companies, overseeing 226,169 units across 26 states as of early 2025 [19]. Based in Austin, the company experienced its most substantial growth in 2023, adding an impressive 75,000 units to its portfolio [19].
When it first appeared on the scene in 2020, RPM Living managed 38,000 units, placing it at No. 42 on the rankings. Fast forward a few years, and the company now operates in over 50 markets, supported by corporate offices in Austin, Atlanta, and Phoenix [17][22]. This solid foundation has allowed RPM Living to focus on expanding into high-potential markets.
Recent Market Expansion
In 2024-2025, RPM Living made notable strides in emerging markets, adding significant properties:
- Nashville: Acquired 29 properties, totaling over 6,000 units [20].
- Las Vegas: Took on 24 properties, adding 5,424 units to its portfolio [20].
- California: Entered the market with the management of 800 Broadway, a high-rise in downtown San Diego [19].
"As we expand our footprint across the United States, our mission remains the same: to foster people-centric work environments where associates thrive, and create living experiences residents recommend to others, while creating exceptional performance that nurtures longstanding client partnerships." - Jason Berkowitz, Chief Executive Officer of RPM Living [19]
Performance Recognition
RPM Living's communities earned the prestigious Top Rated designation from Apartment Ratings in 2020 - an honor achieved by only 5% of properties [21]. To qualify, properties had to maintain an epIQ Index grade of A- (80.00) or higher and receive at least five reviews within the calendar year [21].
With a focus on localized strategies and maintaining high standards, RPM Living has achieved steady growth while delivering exceptional service. This approach continues to shape the multifamily property management sector and sets the bar for others in the industry.
4. Willow Bridge Property Company
Willow Bridge Property Company continues to thrive, managing an impressive 220,676 units across 29 states and 75 markets. Backed by a robust team of over 5,200 members, the company has cemented its place as a leader in the property management industry [23].
Strategic Market Presence
Willow Bridge operates from primary offices in key cities, including:
- Atlanta, GA
- Boston, MA
- Chicago, IL
- Dallas/Fort Worth, TX
- Seattle, WA
- Washington, DC (Reston, VA) [26]
Additionally, satellite offices in cities like Austin, Denver, Ft. Lauderdale/Miami, Houston, Nashville, Orlando, Phoenix, and San Antonio ensure a strong presence in rapidly growing markets [26]. This widespread network has played a pivotal role in the company’s recent expansion efforts.
Recent Growth and Acquisitions
In a major move, Willow Bridge acquired Blue Ridge Companies' portfolio, adding over 10,000 units to its management portfolio as of May 1, 2025 [24]. This acquisition significantly bolsters the company’s footprint in the Carolinas.
"We are honored to have been chosen as the management company for Blue Ridge. This partnership aligns with our strategic growth in the Carolinas, allowing us to expand thoughtfully while staying true to our commitment to create places people want to call home."
– Margette Hepfner, Chief Operating Officer at Willow Bridge [24]
Industry Legacy and Experience
With a history dating back to 1965, Willow Bridge combines decades of expertise with modern management practices. Over the years, the company has developed more than 200,000 units and consistently maintained a top 50 ranking in the industry [25][27].
"It's hard to believe this is my 40th year with the company, and I've witnessed firsthand its remarkable growth through that time. The success we've achieved over the years has been driven by our unwavering commitment to our clients, employees, partners, and the communities we serve. We are excited about the future and the continued growth opportunities on the horizon."
– Scott Wilder, President of Property Management [27]
5. Cushman & Wakefield
Cushman & Wakefield stands out as a major player in the multifamily management space, handling over 167,000 units across the United States [28]. Their experience and reach make them a key figure in the industry.
Geographic Strongholds
The company strategically focuses on regional markets to drive results. The South has been a standout region, accounting for 53% of all move-ins nationwide during Q1 2025 [29]. Among the top-performing areas, Dallas/Fort Worth and Phoenix led the way, with absorption rates of 7,500 and 5,100 units, respectively, during the same period [29].
Portfolio Highlights
Here are some of Cushman & Wakefield's notable properties:
| Property Name | Location | Units |
|---|---|---|
| 150 Summit | Birmingham, AL | 640 |
| Riverchase Vista | Savannah, GA | 300 |
| 1400 South Wabash | Chicago, IL | 299 |
| The Vivian | Atlanta, GA | 325 |
| Eden at Lakeview | Alpharetta, GA | 255 |
Market Performance
Cushman & Wakefield's results speak for themselves. In 2023, their Phoenix office handled 2,744 transactions, covering 45 million square feet and generating $5.1 billion in value [30]. Additionally, their Multifamily Advisory Group has a strong presence in New England, serving states like New Hampshire, Rhode Island, Vermont, Connecticut, and Maine [31]. These achievements highlight the company’s ability to deliver consistent and impactful results across diverse markets.
6. FPI Management
FPI Management ranks as the 6th largest multifamily property management company in the U.S., overseeing 167,000 units across 21 states [8]. Known for its expertise in third-party management, the company specializes in both market-rate and affordable housing.
Portfolio Composition
Here’s a snapshot of FPI’s well-rounded portfolio:
| Property Type | Number of Units | Percentage |
|---|---|---|
| Market-Rate Units | 92,000 | 55.3% |
| Affordable Units | 74,179 | 44.7% |
| Total Portfolio | 167,000 | 100% |
Geographic Distribution
FPI Management has established a strong foothold in several key states:
- California: 90,255 units
- 59,812 market-rate units
- 30,443 affordable units
- Nevada: 19,355 units
- 14,098 market-rate units
- 5,257 affordable units
- Washington: 18,285 units
- 4,301 market-rate units
- 13,984 affordable units
- Florida: 15,557 units
- 2,677 market-rate units
- 12,880 affordable units
This distribution highlights FPI’s ability to cater to both urban and suburban markets while meeting diverse housing needs.
Recent Developments
In March 2025, FPI Management collaborated with Van Daele Homes to develop Atwell at Folsom Ranch, a 278-unit community offering homes ranging from 869 to 1,468 square feet. This project earned the prestigious 2025 CoStar Impact Award [34].
"FPI Management is a dedicated third-party property management firm... With over 165,000 units under management across 21 states, we bring deep market expertise, a resident-first approach, and operational excellence to every community we oversee." - FPI Management [32]
FPI’s client base includes institutional investors, global real estate firms, financial institutions, and government agencies [33]. The company manages a wide variety of property types, including midrise and highrise buildings, mixed-use developments, and student housing communities.
With its balanced portfolio and strategic presence in key markets, FPI Management continues to play a vital role in shaping the multifamily housing sector.
7. BH Management Services
BH Management Services oversees more than 100,000 residential units from its headquarters in Des Moines, Iowa. Its reach extends across numerous states, with a detailed breakdown of its portfolio below.
Portfolio Overview
| Category | Details |
|---|---|
| Total Units Managed | 107,099 |
| Geographic Presence | 28 states |
| Communities | 450+ |
| Ranking | 11th in NMHC Top 50 Managers (2025) [18] |
In a major development, Pretium, a specialized investment firm, acquired BH Management Services in May 2024 [9].
Innovation and Technology
BH Management Services has made significant strides with its proprietary analytics platform, BH Fusion®, which has been recognized as the Best Real Estate Analytics Platform [35]. This cutting-edge tool integrates features such as:
- Advanced leasing analytics
- Accounting systems
- Maintenance tracking
- Natural language processing capabilities
- Dynamic performance dashboards [37]
"BH Fusion+ has helped BH leap into the world of AI when it comes to filtering our data and creating business and performance reports. BH Fusion has allowed our teams to surface new opportunities, build better strategies, and understand the impact of our decisions immediately", said Joanna Zabriskie, President & CEO of BH [37].
With the power of BH Fusion®, the company continues to explore new opportunities and refine its strategies.
Recent Developments
In February 2025, BH Management Services, in collaboration with American Landmark Apartments, began construction on The Current at City Center, a 350-unit apartment community in Cutler Bay, Miami-Dade County. This project is part of a broader $1.5 billion plan to redevelop Southland Mall into Southplace City Center [36].
Operational Excellence
Beyond its technological advancements, BH Management Services focuses on improving operational efficiency through several initiatives:
- Centralized support teams handling renewals across more than 220 communities
- Dedicated in-house teams for data analytics and performance strategies
- The "Mint Experience", a resident-focused service model featuring 24-hour maintenance and smart home technology
- An integrated platform for resident services
These efforts, combined with a commitment to resident satisfaction, have earned the company recognition as a "Great Places to Work®" [35]. BH Management Services continues to prioritize innovation and exceptional service, reshaping the residential experience for its communities.
8. Avenue5 Residential
Avenue5 Residential has cemented its place as a powerhouse in the multifamily property management industry, ranking 7th in the sector for 2025 [8]. The company expanded its portfolio from 121,932 units in 2024 to over 140,000 units in 2025, reflecting its dedication to delivering exceptional, client-centered property management services. This achievement secures its spot on our list of top U.S. companies for 2025.
Portfolio Overview
| Category | Details |
|---|---|
| Total Properties | 740+ |
| Units Managed | 140,000+ |
| Geographic Presence | 22 states + Washington D.C. |
| Cities Served | 242 |
| Total Associates | 3,700+ |
| Industry Ranking | #7 on MHN's Top 50 (2024) |
Avenue5’s reach extends across key markets such as Arizona, California, Colorado, Florida, Texas, and Washington. With a client base that includes more than 250 entities - ranging from institutional investors to family offices - the company has established itself as a trusted partner in property management.
Specialized Services
Avenue5 Residential distinguishes itself with a tailored management approach, offering services like:
- Market analysis and underwriting to guide investment decisions.
- New development consulting for seamless project launches.
- Branding and design expertise through their in-house creative team, Studio5.
- Data-driven insights via a robust reporting platform.
- Dedicated integrations team to ensure smooth property transitions.
"We understand that owning and managing properties can be challenging and time-consuming. Because of this, our customized approach is centered around a deep understanding of the multifamily real estate industry and each client's unique needs."
- Avenue5 Residential
Their dedication to excellence has earned them recognition as a Great Place to Work® for seven consecutive years. Adding to their accolades, Studio5 received a 2024 Muse Award for its branding work on Altair by Soltura.
Client Testimonial
"Avenue5 has some of the strongest people in our industry. The team that we have is just so strong they understand our business plan, our operating strategy, and it's a true collaboration there."
- Sharon George, MIG
Avenue5 Residential’s success lies in its hands-on, customized strategies, which prioritize aligning with each client’s unique goals and property needs. By stepping away from a one-size-fits-all approach, they’ve achieved consistent growth and widespread industry recognition. Stay tuned as we dive into the next leader shaping the future of multifamily management.
9. Bozzuto Management Company
Bozzuto Management Company stands out in the multifamily property management industry by blending strategic growth with forward-thinking management practices. With a portfolio that includes over 120,000 apartments, 3.7 million square feet of retail space, and plans to add 27,000 new units in 2024, Bozzuto continues to set high standards in the field [40][39].
Portfolio Overview
| Category | Details |
|---|---|
| Total Units Managed | 120,000+ apartments |
| Retail Space | 3.7 million sq ft |
| Geographic Presence | 20 states |
| Portfolio Value | $20.3 billion |
| 2024 Growth | 27,000+ new units |
Bozzuto operates in 20 key states, including California, Florida, Illinois, New York, and Washington, D.C., with nearly one-third of its properties located in suburban markets [39]. This geographic diversity underscores the company's ability to adapt to a variety of environments.
Their impressive market presence is matched by a reputation for excellence. Bozzuto has been recognized as the Top Property Management Company for Online Reputation for seven consecutive years [38]. One standout example of their innovative approach is The Wray in Washington, D.C., where they transformed a World War II-era State Department building. Bozzuto preserved the historic façade and lobby while incorporating modern amenities [39].
Bozzuto's commitment to integrated community developments is evident in projects like the Chevy Chase Lake development, which earned the Excellence in Mixed-Use Development award at ULI Washington's 2025 Awards. This project exemplifies how Bozzuto combines thoughtful design with functionality to create vibrant communities.
"We view ratings and reviews from our residents as paramount – a critical step in recognizing areas of opportunity to provide them with the very best experience. We are incredibly proud to have earned this honor for seven years in a row, and it is directly attributed to our loyal residents and engaged employees. Our strong culture of kindness at Bozzuto allows our associates to deliver sanctuary for those we serve, which in turn builds trust and loyalty with our residents."
– Stephanie L. Williams, president of Bozzuto Management Company [41]
Bozzuto’s success lies in its dedication to creating exceptional living experiences, fostering strong relationships with clients, and ensuring operational excellence across its diverse portfolio.
10. Hawthorne Residential Partners
Hawthorne Residential Partners has solidified its reputation as a leading name in multifamily property management, particularly in the Sun Belt region. As of January 2025, the company oversees 62,651 units across eight states, reflecting an impressive 26% growth from the previous year [42]. This achievement has earned them the #26 spot on the NMHC Top 50 list of the largest property management companies in the U.S.
Portfolio Overview
| Category | Details |
|---|---|
| Total Units | 62,651 units |
| Properties | 275+ communities |
| Geographic Presence | 8 states, 110+ cities |
| Regional Offices | Greensboro (HQ), Atlanta, Charleston, Raleigh, Richmond |
| Transaction Volume | Over $30B in the Sun Belt region |
Hawthorne’s operations are deeply rooted in their regional strategy, with their headquarters in Greensboro and additional offices in Atlanta, Charleston, Raleigh, and Richmond. They serve more than 110 cities across eight states, focusing on the Southeastern and Mid-Atlantic regions, where they’ve consistently expanded their footprint through targeted acquisitions.
Recent acquisitions in Atlanta highlight their strategic growth. These include "The Arcadian", a 308-unit property in Doraville, and "The Alden", a 200-unit property in Morrow, GA [44]. Such purchases reflect their ongoing commitment to strengthening their presence in key markets.
Hawthorne’s vertically integrated business model covers every aspect of multifamily operations - investment, development, and property management. This integration, combined with their "Live It" culture, has earned them the highest online reputation score among NMHC Top 50 Managers [46].
"First and foremost, we recognize that we are in the people business. Our goal, then and now, is to create and sustain an enduring company culture centered around mutual trust and respect." - Ed Harrington, Founding Principal [46][43]
Over the past decade, Hawthorne has managed over 100,000 multifamily units in the Sun Belt region [43]. Their focused geographic approach ensures a deep understanding of local markets while maintaining consistent service quality across their properties.
Beyond resident satisfaction, Hawthorne emphasizes comprehensive property management services. Their recent partnership with Resi in October 2024 underscores their commitment to leveraging technology to enhance property performance [45].
11. ZRS Management
ZRS Management has cemented its position as a major player in the multifamily property management industry. Ranked #13 on the NMHC Top 50 Managers list for 2025, the company now oversees 92,927 units - an impressive jump from 78,130 units in 2024 [18]. This growth, fueled by strategic partnerships, mirrors an industry-wide focus on relationship-driven expansion.
Here’s a snapshot of ZRS Management's portfolio:
| Category | Details |
|---|---|
| Total Units | Over 100,000 units |
| Geographic Presence | 8 states (FL, TX, GA, SC, NC, MD, VA, TN) |
| Property Types | Class A and B assets, high-rise communities |
| High-Rise Experience | 26 projects, 7,000+ units |
| Regional Focus | Southeast, Texas, and Maryland markets |
What sets ZRS Management apart is its boutique-style approach. Each regional manager oversees just six properties, allowing for more personalized attention and higher-quality service [49].
"We have never bought another company. We have no interest in growing through acquisition. We have no interest in changing the product types that we manage or going into markets where we don't have partners and owners that we've already worked with before. It's just doing really good business, working with really good people and taking care of all of our employees the exact same way."
- Darren Pierce, CEO of ZRS Management [47]
Thanks to strategic partnerships, which brought in nearly 15,000 units, ZRS Management climbed six spots in the NMHC rankings [47].
In May 2025, the company was spotlighted by the Greater Nashville Apartment Association, recognizing its successful entry into the Nashville market and its dedication to operational excellence [48].
12. Lincoln Property Company
Lincoln Property Company (LPC) stands out in the multifamily property management sector, overseeing an impressive 213,900 units across the United States [54]. In February 2023, the company’s residential division underwent a rebranding, becoming Willow Bridge Property Company following an acquisition [52]. This move marked a shift in LPC's focus, expanding from traditional multifamily properties to include a broader range of commercial assets.
| Category | Details |
|---|---|
| Total Units Managed | 213,900 units |
| Geographic Coverage | 75 markets nationwide |
| Commercial Space | 433+ million sq ft |
| Development Portfolio | 209,000+ multifamily units developed |
| Fee Management | 70% of apartment portfolio |
LPC’s portfolio and strategy highlight its extensive reach and adaptability. The company operates through regional divisions, including LPC West, which focuses on the Pacific Coast, and LPC Desert West, serving Arizona, Nevada, Utah, and New Mexico [50]. In May 2025, LPC bolstered its Southern California presence by acquiring Unire Real Estate Group, adding 60 million square feet of industrial and office space to its portfolio [51].
"We have a proud history, a passionate team, decades of experience and a track record of delivering results, so it was important to choose a new name that speaks to that history. Since Mack Pogue founded the company in 1965, the willow tree has been a part of our culture. The first property we built was named after the willow tree, and the willow tree has since served internally as a symbol of the growth and strength of our company, featuring prominently in our leadership awards dating back to 1974."
- Duncan Osborne, Chief Executive Officer of Willow Bridge [52]
This rich legacy has fueled LPC's growth into diverse property types. For instance, in the Greater Boston area, it manages over 4.5 million square feet of lab and biomanufacturing space, with properties valued at more than $1.5 billion [55]. Even during economic downturns, LPC has maintained stability, avoiding layoffs during recent recessions [53].
LPC Desert West, in particular, has seen significant growth, transitioning from acquisition support to offering full-scale management, leasing, and construction services. As Julie Cornelius, Managing Director of LPC Desert West, noted, this division has become a key player in the region [50].
13. Equity Residential
Equity Residential stands out among top property managers by focusing on urban strategies and targeting high-demand coastal and Sunbelt markets. As of April 2025, the company manages an impressive 78,568 apartment units across 305 properties [57]. Their portfolio is concentrated in areas with strong rental demand, ensuring both growth and operational efficiency.
| Market Focus | Portfolio Details |
|---|---|
| Primary Markets | Boston, New York, Washington, D.C., Seattle, San Francisco, Southern California |
| Expansion Markets | Atlanta, Austin, Dallas/Fort Worth, Denver |
| Total Properties | 305 |
| Total Units | 78,568 |
| Physical Occupancy | 96.1% |
Equity Residential’s strategic positioning has paid off. In Q1 2025, the company achieved a record-low 7.9% turnover rate and completed a $285.9 million joint venture to add 720 apartment units in New York and Denver [59].
"We are encouraged to begin the year with operating performance that exceeded our expectations and that leaves us well positioned going into our primary leasing season. We expect our business to be resilient in the face of heightened economic uncertainty."
– Mark J. Parrell, Equity Residential's President and CEO [59]
Under the leadership of VP of Sustainability Kyle Hendricks, the company is pushing for a 20% reduction in energy use and a 10% reduction in water use by 2030 (compared to 2018 levels). These efforts earned them the 2024 Nareit Leader in the Light Award for the residential sector [60], showcasing their commitment to environmentally conscious operations.
Regional performance highlights include Boston’s 2.6% sequential revenue growth in Q2 2024, with Seattle and Washington, D.C. each reporting 1.5% growth [58]. Recent acquisitions bolster their portfolio, including a $62.6 million property in Boston (160 units) and $216.8 million worth of properties in Atlanta and Dallas/Fort Worth (644 units) [58].
Looking ahead, Equity Residential projects revenue growth of 2.25% to 3.25% for its same-store portfolio in 2025 [61].
National vs. Regional Management Companies
In 2025, the multifamily property management industry presents a clear divide between national giants and regionally focused firms. National property management companies dominate the market, with NMHC 50 managers overseeing 21% of all apartments in the U.S. [56]. For example, Greystar alone manages an impressive 946,742 units across the country [18]. This broad reach contrasts with the more localized, specialized approach of regional firms.
Some regional companies thrive by offering deep local expertise. Take NAI Hiffman, which operates in metropolitan Chicago, northern Indiana, and southern Wisconsin. Their localized focus enables them to provide tailored services and responsive management [62]. A client shared their experience:
"We started using Hiffman's property management in 2014... and Hiffman's client-centric model and team approach led us to hire the firm in North Carolina in 2015, Pennsylvania in 2016 and Ohio in 2017, 2018, 2019 and 2020... Hiffman's service level across the U.S. has contributed to the success of our investments."
– Daniel T. Cooper, partner and head of North America for 90 North [62]
Here’s a quick comparison of the two approaches:
| Aspect | National Companies | Regional Companies |
|---|---|---|
| Market Coverage | Operate nationwide across multiple states | Focus on specific local markets |
| Portfolio Size | Manage large-scale portfolios | Handle smaller, concentrated portfolios |
| Service Model | Standardized, centralized processes | Customized, locally driven services |
| Cost Structure | Higher overhead from broad operations | Lower overhead with competitive rates |
| Response Time | Structured protocols for responses | Faster, more personalized responses |
The property management industry, valued at $101 billion [62], highlights these operational differences:
- Local Market Knowledge: Regional firms excel in understanding local rental trends, property values, and regulations [64].
- Resource Allocation: National companies leverage advanced technology and standardized systems, while regional firms focus on flexibility and personalized service [65].
- Cost Structure: Regional firms often operate with lower overhead, offering management fees ranging from 4% to 12% of monthly rental income [66].
Looking ahead, the industry is projected to grow significantly, from $23.21 billion in 2025 to $33.11 billion by 2029 [9]. National firms are leaning heavily into technology to streamline operations, while regional players continue to emphasize localized solutions.
For property owners, the choice between these approaches depends on factors like portfolio size, service expectations, and market dynamics. Regional firms shine with their personalized attention and quick responses, whereas national companies offer the benefits of stability, established networks, and economies of scale [63][64].
Next Steps
Based on our review of top companies, here’s how you can select the right partner to manage your property portfolio effectively. With market trends shifting as discussed earlier, it’s crucial to align your portfolio with a company that meets your specific needs.
| Portfolio Size | Recommended Management Type | Key Considerations |
|---|---|---|
| 1-50 units | Regional/Local Manager | Tailored, hands-on service |
| 51-200 units | Mid-size Regional/National Firm | Balanced resources and attention |
| 200+ units | National Company | Broad systems and cost efficiencies |
When assessing potential management partners, keep these factors in mind:
-
Portfolio and Expertise Alignment
Confirm the company has the capacity to give your properties the attention they need. Ask for case studies or examples of similar properties they’ve managed. Make sure their expertise matches your property type - for instance, managing luxury apartments requires a different approach compared to workforce housing in terms of amenities and tenant services. -
Due Diligence
Visit properties they currently manage and evaluate key aspects such as:- Maintenance quality and overall appearance
- Professionalism and responsiveness of staff
- Tenant satisfaction rates
- Use of technology for operations
"The right manager brings a deep understanding of the local market dynamics, a strategic approach to tenant management, and proactive maintenance solutions that not only preserve but enhance the value of your property." [67] - Mayfair Property Management
To gather more insights, consult resources like the National Apartment Association directory or your local real estate associations [68]. It’s also important to confirm the company’s knowledge of local regulations and ensure their financial and operational goals align with yours [67].
Taking these steps will help you make a well-informed choice. For additional guidance, explore our regional market analysis guides, which provide in-depth information on local property management trends and opportunities.
Want to strengthen your vendor relationships? Check out our comprehensive guide on vendor selection and management strategies for actionable tips.
FAQs
How do multifamily property management companies achieve high occupancy rates despite a 6.5% national vacancy rate?
Multifamily property management companies have a knack for keeping occupancy rates high, despite the national vacancy rate hovering around 6.5%. They achieve this through a mix of targeted marketing, tenant-centered services, and property upgrades, all aimed at drawing in new renters while keeping current tenants happy.
Take digital marketing as an example - it’s a go-to tool for reaching potential tenants. On top of that, many companies invest in upgrading property amenities to stay competitive and ensure quick, reliable maintenance to boost tenant satisfaction. Modern renters also value eco-friendly practices and a strong sense of community, so these have become key focuses as well. Together, these strategies often push occupancy rates beyond 95%, even when market conditions are less than ideal.
What strategies do top property management companies use to incorporate eco-friendly features and smart home technology?
Top property management companies are prioritizing green initiatives and smart home technology to boost tenant satisfaction and simplify operations. Many are turning to energy-efficient upgrades like smart thermostats, LED lighting, and water-saving fixtures. Not only do these features cut utility costs, but they also appeal to renters who care about reducing their environmental impact.
In addition, they’re introducing smart home solutions such as keyless entry systems, remote monitoring, and automated maintenance alerts. These tools improve security, add convenience, and elevate the overall living experience. Plus, by optimizing energy and resource use, they contribute to sustainability while meeting the expectations of tech-savvy renters.
How do regional property management companies like ZRS Management stand out compared to national firms in service and client satisfaction?
Regional property management companies like ZRS Management stand out by delivering services that are closely tied to the specific needs of their local markets. By focusing on building strong relationships with both tenants and property owners, these companies can navigate local market trends with ease. This kind of localized expertise often translates into quicker response times and happier tenants.
What sets regional firms apart is their ability to offer customized solutions that cater to the unique challenges and preferences of their clients. Take ZRS Management, for instance - they emphasize exceptional customer service and operational efficiency. This approach not only helps them maintain high occupancy rates but also ensures tenants stick around longer. In comparison, larger national firms often rely on standardized systems that may be efficient but don't always account for the subtleties of local markets. This can sometimes lead to a less personalized experience for clients.