7 Best Apartment Management Companies

The best apartment management companies offer diverse services including full and half management. They also service different locations and different types of portfolios. Selecting the best property manager comes down to finding the right mix of services at the right price to get the best value.

The 7 best apartments management companies are:

1. HomeRiver Group: Best Overall
2. Awning: Best for Airbnb
3. Lincoln Property Company: Best Boutique-Style Company
4. Cushman & Wakefield: Best for Customizable Services
5. Greystar: Best for Mixed Portfolios
6. Bozzuto: Best for Luxury Apartments
7. Buildium: Best Half-Service Company

Let Awning find the best property manager for your rental property. Simply fill out the form and Awning will find a property manager that provides the best rates and services for your property.

How We Evaluated the Best Apartment Management Companies

Choosing the best apartment management company for your specific property and investor needs is a must in order to maximize revenue and cap rate while still achieving a stress-free experience. There are multiple factors that need to go into this decision.

In our evaluation of the 7 best property management companies for apartments, we considered:

• Pricing: We looked for apartment managers who have a clear cost structure, charge competitive rates, and do not have hidden fees.
• Management agreement terms and conditions: We analyzed how easy it is to cancel apartment management services because investors should be free to go when they are not fully satisfied with the services they receive.
• Apartment management services: We considered whether a company offers full services or half services and what exactly is included in the package. We checked if there are any additional services that are charged separately.
• Market coverage: We searched for apartment management companies with national coverage so that they can serve the needs of investors in all markets. Also, they benefit from corporate responsibility and accountability which is sometimes absent with small, local managers.
• Online customer reviews: We considered how many reviews a company has, whether they show positive or negative experiences, and if the company delivers on the promises it makes on its website.
• Value for money: We focused on the apartment management companies that offer the best ratio of service coverage and quality, on the one hand, and price, on the other.

HomeRiver Group: Best Overall

Established in 2016, with headquarters in New York, NY, HomeRiver Group (HRG) markets itself as the largest third-party long-term rental property management company in the US market. The company works mostly with apartments. At the moment, they manage 40,000+ long-term rentals and additional 30,000+ HOA community properties. HRG is a full-service property manager.

HomeRiver Group Apartment Management Costs and Fees

HomeRiver Group does not charge the same property management fee in each market. They operate through a network of local apartment rental property managers, and each local brand defines its own fee to reflect local conditions, either as a percentage of revenue or a fixed fee. In general, bigger properties and larger portfolios incur relatively lower fees. Typically, the cost does not go over 10% of monthly rent. This is achieved through efficiency of scale.

HomeRiver Group Apartment Management Terms and Requirements

The company website does not provide a copy of the management agreement and does not specify if long-term commitment is required. We recommend that owners ask to review the contract before opting for working with HomeRiver Group.

HomeRiver Group Apartment Management Services

HomeRiver Group offers comprehensive long-term rental management services to apartment owners, including:

• Renovation
• Leasing
• Property management
• Apartment maintenance and repairs
• Real-time performance reporting
• Access to state-of-the-art technology

HomeRiver Group Apartment Management Geographic Availability

HomeRiver Group has acquired multiple local property management companies to ensure national market coverage, including 32 US states. Services are available in a number of major cities in each of these states.

HomeRiver Group Apartment Management Customer Reviews

There are 1,000+ online reviews of HomeRiver Group, showing mixed experiences.

You can find HomeRiver Group reviews on:

• Birdeye: Currently 4.1/5 stars based on 669 reviews, including 666 Google reviews
• Google: Currently 4.1/5 stars based on 626 reviews

Satisfied apartment owners mention impeccable services, high-quality tenants, smooth communication, and the responsiveness and helpfulness of the team. Dissatisfied customers talk about poor maintenance, pending repair issues, and the absence of customer support.

Get Started With HomeRiver Group Apartment Management

To get started with the best long-term apartment rental manager, property owners can visit HomeRiver Group page.

Awning: Best for Airbnb

Founded in 2020, with headquarters in San Francisco, CA, Awning is the best Airbnb management company in the US for all types of properties including apartments. Currently, Awning manages over 100 short-term rentals across the US. The company provides comprehensive vacation rental management services, from getting properties ready for renting out, all the way to taking care of all day-to-day tasks. Moreover, Awning charges industry-low fees, starting at 15% of rental revenue.

Awning Apartment Management Costs and Fees

Awning offers the most competitive short-term rental management fees for apartments in the US market. Monthly cost starts at 15% of rental income and varies depending on the property size, location, estimated or realized annual revenue, and level of services required. The monthly fee is comprehensive of all apartment management services including hot tub and swimming pool cleaning and maintenance, and there are no hidden fees.

The only additional services that can be purchased separately are:

• Interior design and furnishing: Typically between $15,000 and $45,000 for comprehensive services and between $5,000 and $15,000 for partial furnishing.
• Short-term rental insurance: Apartment owners need to talk to an Awning expert to get an exact quote. In most cases, the cost ranges between $150 and $500/year. Awning helps Airbnb hosts save up to 25% in insurance costs.

Awning Apartment Management Terms and Requirements

The Awning property management agreement requires an annual commitment in order to provide the best short-term apartment rental services to owners. The reason for this is that the efforts put into optimizing the property and its marketing strategy in the first few months start paying off in full in a couple of months. However, owners can cancel services.

Awning Apartment Management Services

Awning provides full-service management for apartments.

The services included in the standard monthly management fee are:

• Installing smart home devices
• Getting short-term rental permits and licenses
• Dynamic Airbnb pricing for optimizing the Airbnb occupancy rate and revenue
• Communicating with and supporting guests 24/7, with industry-low average response time of 5-15 minutes
• Property cleaning, restocking, and laundry between stays
• Cleaning and maintaining swimming pools, hot tubs, and lawns
• Property inspections, maintenance, and fixes
• Generating guest reviews

Additional services that owners can choose and pay for separately include:

• Design and furnishing: The process is led by the ex-Head of Design at Airbnb, and short-term rental apartments furnished by Awning can generate 15%-50% more revenue than comps.
• Vacation rental insurance

These services guarantee optimal performance of rental apartments as well as truly passive income for investors.

Awning Apartment Management Geographic Availability

The Awning short-term rental property management services are available in all 50 US states. This nationwide coverage is provided by onboarding teams of vetted professionals in each market before even taking on properties there.

Awning Apartment Management Customer Reviews

There are over a dozen online reviews of Awning which reveal very positive experiences for owners.

You can find Awning reviews on:

• Trustpilot: Currently 12 5.0/5 star reviews
• BiggerPockets: Currently 2 5.0/5 star reviews

Happy rental property owners praise the world-class services, the top-notch management, the personalized approach, the knowledge and professionalism of the team, and the great communication. Hosts who have previously worked with Vacasa, RedAwning, and Evolve highlight the superior services provided by Awning.

In addition, Awning-managed properties have an impressive 4.8/5 rating on the Airbnb platform. Guests emphasize the excellent locations, the amazing properties, the well-managed and stocked rentals, and the helpful team.

Get Started With Awning Apartment Management

To get started with Awning, apartment owners can schedule a call or submit a form. An Awning professional will discuss your property with you and walk you through services, potential revenue, and rates. We have experience with both onboarding new rentals and taking over management from other property managers.

Lincoln Property Company: Best Boutique-Style Company

Started in 1965 in Dallas, TX, Lincoln Property Company is ranked as the second largest apartment manager in the US. The company aims to deliver boutique-style management services to apartment owners and renters, at the national level. Currently, Lincoln manages 215,000+ rental units, 73% of which include third-party management.

Lincoln Property Company Apartment Management Costs and Fees

Similar to other best apartment management companies, Lincoln Property Company does not provide information on the management fees that it charges to apartment owners. Thus, interested investors need to get in touch with the company and discuss pricing.

Lincoln Property Company Apartment Management Terms and Requirements

The Lincoln website does not offer a copy of the rental management agreement, so apartment owners should ask for it before making a decision.

Lincoln Property Company Apartment Management Services

With Lincoln, apartment owners get access to full services that include:

• Comprehensive property management including due diligence, setup, onboarding, asset management, value-added redevelopment, and rebranding
• Customized marketing solutions including access to Lincoln’s in-house graphic design agency, L Creative
• Full property-related accounting and reporting services including cash management, payroll administration, internal audit reviews, risk management, vendor compliance, and insurance monitoring
• Mandatory renter’s insurance
• Access to national purchasing power and procurement
• Internal revenue management including daily review of pricing changes
• Community- and portfolio-level reporting through a proprietary business intelligence tool, propertyBI

Lincoln Property Company Apartment Management Geographic Availability

Lincoln services cover over 200 cities in 30 US cities, from coast to coast. Despite this national coverage, the company aims to retain a personal approach focusing on the community.

Lincoln Property Company Apartment Management Customer Reviews

There are 1,000+ online reviews of Lincoln that show various experiences.

You can find Lincoln Property Company reviews on:

• Facebook: Currently 3.6/5 stars based on 955 reviews
• VeryApt: Currently 7.65/10 stars based on 624 reviews
• Yelp: Currently 1.0/5 stars based on 65 reviews
• BBB.org: Currently 1.03/5 stars based on 31 reviews

Positive reviews focus on the professionalism and genuine care of the team, the well-trained staff, the ability to come up with creative solutions, and the quick response to any issue. Negative reviews discuss poor amenities maintenance, delays in fixing problems, and lack of customer support when needed.

Get Started With Lincoln Property Company Apartment Management

To get started with the best boutique-style apartment rental manager, property owners can visit the Lincoln Property Company website.

Cushman & Wakefield: Best for Customizable Services

Created in 1917, with headquarters in Frisco, TX, Cushman & Wakefield provides full-service property management for all apartment asset types including upscale, high-rise, new development, mixed-use, and affordable housing. The company specializes in delivering customized services to meet the exact needs of each apartment in order to increase revenue, decrease operating costs, and enhance tenant retention. Cushman & Wakefield prides themselves in being a third-party manager with an ownership mentality. In 2023, the company manages 172,000+ apartment units.

Cushman & Wakefield Apartment Management Costs and Fees

This apartment management company does not disclose its monthly fees, so interested landlords need to contact them to inquire about the cost.

Cushman & Wakefield Apartment Management Terms and Requirements

The company website includes the apartment management agreement, and investors should ask about a copy of it when contacting the property manager.

Cushman & Wakefield Apartment Management Services

The residential apartment property management services covered  by Cushman & Wakefield include:

• Seamless onboarding and transition
• Day-to-day property operations
• Creative property marketing
• Comprehensive accounting and financial reporting
• Property maintenance
• Access to custom property management application providing accurate and timely property and portfolio information

Cushman & Wakefield Apartment Management Geographic Availability

The Cushman & Wakefield multifamily property management services are available in 25 US states plus DC.

Cushman & Wakefield Apartment Management Customer Reviews

There are only a few online reviews of Cushman & Wakefield written by customers, while most reviews are provided by employees. This is unusual for such a large apartment management company.

You can find Cushman & Wakefield reviews on:

• Trustpilot: Currently 1.7/5 stars based on 22 reviews
• Yelp: Currently 1.0/5 stars based on 10 reviews
• BBB.org: Currently 1.0/5 stars based on 2 reviews

The few positive reviews highlight the great customer service. Meanwhile, the negative reviews reveal sluggishness in addressing property issues and lack of adequate customer support.

Get Started With Cushman & Wakefield Apartment Management

To get started with the best apartment manager for customized services, property owners can visit the Cushman & Wakefield website.

Greystar: Best for Mixed Portfolios

Founded in 1993, with headquarters in Charleston, SC, Greystar markets itself as the leader in apartment rental housing in the US. The company works with many types of apartment housing including conventional residential housing, lease-up, high-rise, furnished corporate housing, student housing, senior living, affordable housing, and others. Currently, Greystar manages 745,000+ rental units across the country.

Greystar Apartment Management Costs and Fees

The Greystar website does not show the pricing structure for the provided management services. Owners of various apartment types not covered by other management companies need to contact Greystar to ask about the fees.

Greystar Apartment Management Terms and Requirements

Greystar does not publicize the apartment management agreement, so interested investors should ask a company representative for a copy.

Greystar Apartment Management Services

This apartment management company offers comprehensive services that include:

• Rental property operations
• Property marketing
• Business management and administration
• Due diligence and research
• Full financial services
• Insurance programs
• Communications

Greystar Apartment Management Geographic Availability

The Greystar apartment management services are available in 161 US markets.

Greystar Apartment Management Customer Reviews

There are 2,000+ online reviews that reveal varying experiences.

You can find Greystar reviews on:

• VeryApt: Currently 7.45/10 stars based on 1,930 reviews
• BBB.org: Currently 1.02/5 stars based on 103 reviews
• Yelp: Currently 1.0/5 stars based on 46 reviews
• Trustpilot: Currently 1.7/5 stars based on 31 reviews

Happy customers praise the professionalism and experience of the team, the kind attitude, the wonderful properties and amenities, and the available customer support. Unhappy customers complain about property issues not being fixed on time, unethical behavior, the poor value for money, the incompetence of the team, and the lack of availability.

Get Started With Greystar Apartment Management

To get started with the best manager for different types of apartments, property owners can visit the Greystar website.

Bozzuto: Best for Luxury Apartments

Created in 1993, with headquarters in Greenbelt, MD, Bozzuto specializes in the management of luxury apartment rentals. The company focuses on the community experience by establishing welcoming communities and personalizing each community’s offerings. At the moment, Bozzuto manages 80,000+ residential units in several US markets.

Bozzuto Apartment Management Costs and Fees

Bozzuto does not charge the same property management fee everywhere. The specific rate depends on the market, the property type and size, and the owner’s portfolio. Before signing a contract, investors need to get an exact quote to know how much they will pay per month.

Bozzuto Apartment Management Terms and Requirements

The Bozzuto property management agreement is not publicly available, and it’s not clear what the minimum required commitment on behalf of apartment owners is. Investors are advised to ask for a copy and carefully review it before getting started.

Bozzuto Apartment Management Services

The apartment rental management services offered by Bozzuto include:

• Interior design
• Property branding
• Leasing
• Comprehensive property management
• Financial analysis and reporting
• Tenant coordination and management
• Long-term sustainability
• Property maintenance

Bozzuto Apartment Management Geographic Availability

Bozzuto provides luxury apartment management services in 16 US states. This market coverage is limited compared to other best apartment management companies.

Bozzuto Apartment Management Customer Reviews

There are only a few online reviews of Bozzuto, which is unusual for the top apartment management companies.

You can find Bozzuto reviews on:

• VeryApt: Currently 7.75/10 stars based on 515 reviews
• Yelp: Currently 1.5/5 stars based on 49 reviews
• BBB.org: Currently 1.06/5 based on 17 reviews

Satisfied customers highlight the quick response time, the timely fixes, the continuous improvement, the excellent locations and properties, and the top amenities. Dissatisfied customers complain about non-operational amenities, tenant requests not being properly addressed, the inability to resolve issues, health-hazard situations, and lack of integrity.

Get Started With Bozzuto Apartment Management

To get started with the best luxury apartment manager, property owners can visit the Bozzuto website.

Buildium: Best Half-Service Company

Founded in 2014, with headquarters in Boston, MA, Buildium is a technology-based long-term rental property management company. As a half-service apartment manager, the company focuses on the automation of day-to-day tasks associated with managing an apartment as a long-term rental. As a technology company, Buildium can manage apartments nationwide.

Buildium Apartment Management Costs and Fees

There are three Building subscription plans, with the first one covering the needs of small-scale rental apartment investors. The three plans are Essential (starting at $42/month), Growth (starting at $166/month), and Premium (starting at $5,172/year, annual subscriptions only). There is a 10% discount for annual plans. However, landlords need to cover some additional costs with some plans such as $5/eSignature and $99/bank account.

Buildium Apartment Management Terms and Requirements

Buildium does not impose any specific requirements on apartment owners. The company offers monthly and annual subscriptions for the Essential and Growth plans and annual subscriptions only for the Premium plan.

Buildium Apartment Management Services

The apartment management services offered by Buildium focus on access to technology and automation and include:

• Property listing syndication
• Online leasing
• Tenant screening
• Online rent collection
• Rental accounting
• Managing maintenance requests
• 1099 e-filing
• Full-suite reporting including analytics and insights
• Access to a property management website
• Using OpenAI to build custom integrations
• Access to apartment management software tools provided by partners

Buildium Apartment Management Geographic Availability

Using Buildium for rental apartment management is possible in all 50 US states.

Buildium Apartment Management Customer Reviews

There are a few thousand online reviews of Buildium that reveal generally positive experiences.

You can find Buildium reviews on:

• Capterra: Currently 4.5/5 stars based on 1,954 reviews
• GetApp: Currently 4.5/5 stars based on 1,954 reviews
• Software Advice: Currently 4.49/5 stars based on 1,950 reviews
• Trustpilot: Currently 2.9/5 stars based on 418 reviews
• G2: Currently 4.4/5 stars based on 172 reviews
• TrustRadius: Currently 8.4/10 stars based on 13 reviews
• BBB.org: Currently 1.5/5 stars based on 2 reviews

Satisfied apartment landlords and property managers praise the extensive platform features, the comprehensive training, the smooth running of the software, and the available customer support team. Dissatisfied customers complain about the need for updating the platform, the user-unfriendly interface, technical issues, unexpected fees, and the inability to contact customer service.

Get Started With Buildium Apartment Management

To get started with the best half-service apartment manager, property owners can visit the Buildium website.

Takeaway

Our review shows that Awning is the best apartment management company for short-term rentals, while HomeRiven Group is the top choice for long-term rentals. Landlords who’d like to provide a luxury experience can check out Lincoln Property Company and Bozzuto, while those mostly interested in automation should consider Buildium.