Kentucky Property Management: Top 5 Options

The Kentucky real estate market offers lucrative investment opportunities. A major positive factor are the affordable property prices, which make this market accessible even for beginner investors. Both long-term and short-term rental properties can be profitable as long as they are managed efficiently.

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.

The 5 best property management companies in Kentucky are:

• HomeRiver Group: Best Overall Property Management Company in Kentucky
• Hillcrest Property Management: Best for Landlords on a Budget
• Black Tie Real Estate Services, Inc.: Best for Different Property Types
• LREI Property Management, Inc: Best for Investors with Large Portfolios
• Kentuckiana Property Management: Best for Flexibility

How We Selected the Best Property Management Companies in Kentucky

The selection of the best property management companies in any market should use multiple factors in order to be comprehensive and objective.

In our ranking of the top property managers in Kentucky, we focused on:

• Property management services: We analyzed the type and quality of services that each property management firm provides in order to make sure that they can help investors get optimized passive income.
• Property management fees and charges: We looked for companies that apply clear pricing structures, with no hidden fees.
• Rental market coverage: We selected property managers that cover the entire Kentucky rental market.
• Rental property type coverage: We searched for companies that work with different types of residential properties rented out on a short-term and long-term basis to meet the needs of all Kentucky real estate investors.
• Company size and headquarters: We chose both small, local property managers and large, national property management companies as the two models have different pros and cons, and owners should be able to go for their preferred style.
• Use of real estate technology and human efforts: We focused on property management companies that benefit from technology to optimize processes, while also using human interventions which are crucial in the rental property industry.
• Online reviews by property owners and renters: We checked out the average ratings of short-listed companies on reputable review websites and also read through individual reviews by both investors and tenants to ensure quality.
• Value for money: We ranked the 5 property managers that provide the best value for money in Kentucky.

HomeRiver Group: Best Overall Property Management Company in Kentucky

HomeRiver Group is the biggest third-party property management company in the US market, with a strong presence in Kentucky. John Hirschfeld, Andrew Propst, Doug Dale, and Joshua Bangert launched the company in 2016, with headquarters in New York, NY. At the moment, the company works with over 40,000 rental homes and more than 32,000 properties within HOA associations in 31 US states. HomeRiver Group has been able to achieve this impressive market and property coverage by acquiring the best local property managers in different locations and turning them into partners. This is the best property management company in Kentucky for the owners of long-term rentals because they provide comprehensive services at highly competitive rates.

HomeRiver Group Property Management Services

As the best property management company in Louisville in specific and Kentucky in general, HomeRiver Group offers the following comprehensive services:

• Expert market analysis to optimize return on investment
• Extensive tenant screening
• Move-ins
• Rent collection
• Owner earnings disbursement
• Routine inspections
• Maintenance and repairs
• Accounting
• Detailed financial reporting
• Evictions

HomeRiver Group Property Management Locations

The Kentucky branch of HomeRiver Group focuses on the Louisville market.

HomeRiver Group Property Types

HomeRiver Group Kentucky manages single-family homes and small multifamily properties.

HomeRiver Group Property Management Costs

The website of HomeRiver Group Kentucky does not specify the pricing structure in the local market. In other locations, HomeRiver Group charges some of the lowest rates, starting at 4% of monthly rent.

In addition to a monthly management fee, rental property owners have to pay a leasing fee, a lease renewal fee, and routine property inspection fees.

HomeRiver Group Property Management Terms

HomeRiver Group does not provide a copy of the management agreement applicable in the Kentucky market. In most cases, the company works with a 6- or 12-month initial contract. After the end of the initial period, monthly agreements become available as well.

HomeRiver Group Property Management Reviews

There are no online reviews on third-party websites specific to the services that HomeRiver Group provides in the Kentucky market.

You can find general HomeRiver Group reviews on:

• Google: Currently 4.1/5 stars based on 53 reviews

Satisfied landlords and tenants highlight the wonderful experiences, the excellent services, the timely and seamless transactions, the knowledge, the promptness, the efficiency, the professionalism, the courteous staff, and the delightful team members. Dissatisfied customers talk about unethical practices, poor updating processes, and untrustworthy staff members.

How to Get Started with HomeRiver Group Property Management

To get started with the best overall property management company in Kentucky real estate investors can submit an online form via HomeRiver Group or call 415-610-7867.

Hillcrest Property Management: Best for Landlords on a Budget

Hillcrest Property Management is a local, family-owned and operated, full-service property management company serving Northern Kentucky. Michael Denigan, Sr founded the company in 2012, with headquarters in Florence, KY. The team specializes in liberating landlords from the hassle of managing rental properties. Hillcrest Property Management is the best Kentucky property management firm for owners on a budget as it prices its services based on the value of the property.

Hillcrest Property Management Services

Hillcrest Property Management covers the following services:

• Getting properties ready for maximum rent
• Aggressive property marketing and advertising on 50+ websites
• Showings
• Complete tenant screening including multi-state criminal history, evictions, income, and monthly cash flow verification
• Tenant training
• Tenant orientation
• Move-in and move-out inspections
• Routine 50-point interior and exterior inspections with photos and notes on potential problem areas
• 24/7 emergency maintenance
• Handling maintenance requests and repairs coordination
• Accounting
• Financial reporting
• Monthly reports

Hillcrest Property Management Locations

Hillcrest Property Management serves the following markets in Northern Kentucky:

• Boone County: Burlington, Florence, Hebron, and Union
• Campbell County: Alexandria, Fort Thomas, Southgate, and Wilder
• Kenton County: Covington, Edgewood, Erlanger, Fort Wright, Independence, and Taylor Hill

Hillcrest Property Management Property Types

Hillcrest Property Management works with different kinds of residential properties rented out on a long-term basis.

Hillcrest Property Management Costs

Hillcrest Property Management determines the property management fee based on the price of the property. The possible costs are:

Properties Under $200k

• Monthly management fee: $99

Properties Above $200

• Monthly management fee: 8% of monthly rent

This pricing structure ensures affordability for the owners of both cheaper and more expensive investment properties. This makes Hillcrest Property Management the best Kentucky property manager for investors on a budget.

Hillcrest Property Management Terms

The website of Hillcrest Property Management does not have a copy of the management agreement, so interested property owners need to contact the team and get one. It is important to know how easy - or not - it is to opt out of services if you are not fully satisfied.

Hillcrest Property Management Reviews

Over 120 property owners and renters have reviewed the work of Hillcrest Property Management. Their reviews reveal very good overall ratings.

You can find Hillcrest Property Management reviews on:

• Birdeye: Currently 4.5/5 stars based on 45 reviews
• Google: Currently 4.3/5 stars based on 40 reviews
• ChamberofCommerce.com: Currently 4.3/5 stars based on 40 reviews
• Yelp: Currently 1.0/5 stars based on 3 reviews

Positive reviews focus on the outstanding work, the stunning properties, the knowledge, the rare problems issues, the quick handling of problems, the extreme responsiveness, the efficiency, the honesty and fairness, the amazing staff going above and beyond, and the responses to all questions. Negative reviews mention poor tenant screening and handling processes, unprofessional attitude and communication, and rude team members.

How to Get Started with Hillcrest Property Management

To get started with the best property management company in Kentucky for landlords on a budget, real estate investors can submit an online form via the Hillcrest Property Management website or call 859-647-9990.

Black Tie Real Estate Services, Inc.: Best for Different Property Types

Black Tie Real Estate Services, Inc. is a local, full-service property management company working with both short-term and long-term rentals across the Kentucky market. Tanner Good started the company in 2018, with headquarters in Danville, KY. After starting as a brokerage, the company has recently expanded into the property management business, building on their skills and experience in the local real estate market. Black Tie Real Estate Services is the top property management company in Kentucky for different property types as they work with all kinds of single-family and multifamily homes.

Black Tie Real Estate Services, Inc. Property Management Services

Black Tie Real Estate Services provides the following property management services in the Kentucky rental market:

• Property marketing and advertising
• 70+ point tenant screening including local eviction checks
• Lease signing
• Move-in agreements execution
• Rent collection
• Owner funds disbursement
• Tenant communication and handling
• Maintenance
• Financial reporting
• Eviction protection

Moreover, Black Tie Real Estate Services offers some landlord protection in the form of:

• 12 Month Tenant Guarantee

Black Tie Real Estate Services, Inc. Property Management Locations

Black Tie Real Estate Services provides property management services across the Kentucky market including:

• Berea
• Clay City
• Corbin
• Cynthiana
• Eubank
• Frankfort
• Georgetown
• Lexington
• London
• Louisville
• Midway
• Nicholasville
• Pikeville
• Richmond
• Versailles

Black Tie Real Estate Services, Inc. Property Types

Black Tie Real Estate Services manages different types of single-family and multifamily homes, rented out both on a short-term and long-term basis. These include single-family homes, townhomes, condos, duplexes, triplexes, quadruplexes, 4+ units, and apartment buildings. That makes them the best Kentucky property management company for various types of rental properties.

Black Tie Real Estate Services, Inc. Property Management Costs

For the management of long-term rentals, Black Tie Real Estate Services offers 3 service plans that include:

Tenant Placement Only: This plan includes all tasks required to rent out a property.

• Leasing fee: One month’s rent

Standard Rate: This plan includes everything in Tenant Placement Only plus the ongoing management services.

• Leasing fee: 65% of one month’s rent
• Monthly management fee: 10% of monthly rent
• Lease renewal fee: $200

Deluxe Rate: This plan includes everything in Standard plus no leasing fee, no lease renewal fee, and eviction protection.

• Monthly management fee: 18% of monthly rent

Black Tie Real Estate Services, Inc. Property Management Terms

Black Tie Real Estate Services does not provide details on the management contract that property owners need to sign. Thus, it’s recommended that interested landlords get in touch with the team and ask for a copy of the agreement to review before deciding if this is the best option for their specific needs.

Black Tie Real Estate Services, Inc. Property Management Reviews

There are around 50 online reviews of Black Tie Real Estate Services, Inc. as this is one of the newest property management companies in Kentucky. These reviews show excellent overall experiences.

You can find Black Tie Real Estate Services, Inc. reviews on:

• Facebook: Currently 4.7/5 stars based on 40 reviews
• Google: Currently 4.5/5 stars based on 8 reviews

Happy real estate investors and tenants praise the outstanding services, the knowledge of the business, the easy processes, the professionalism, the honesty, the trustworthiness, the responsiveness, the enjoyable team members, and the right communication strategy. Unhappy customers write about poor business management and lack of communication.

How to Get Started with Black Tie Real Estate Services, Inc. Property Management

To get started with the best property management company in Kentucky for different property types, landlords can fill in an online form on the Black Tie Real Estate Services, Inc. website or call 502-501-4680.

LREI Property Management, Inc: Best for Investors with Large Portfolios

LREI Property Management, Inc is a local, full-service property management company serving locations across Kentucky and Indiana. Clay Smith founded the company in 2017, with headquarters in Louisville, KY. The team aims to allow property owners to maximize profits from their investment properties by applying today’s best technology. LREI Property Management is the top property management company in Kentucky for real estate investors with big rental portfolios as they provide major discounts on 50+ units.

LREI Property Management, Inc Services

LREI Property Management delivers the following services:

• Professional rental price analysis
• Rental registration
• Property marketing via Buildium, including syndication on the Zillow Rental Network, Trulia, Yahoo, HotPads, Apartment List, My New Place, Lovely, and others as well as paid advertising
• Property showings
• Comprehensive 30-step tenant screening
• 29-point move-in property condition evaluation
• Property inspections with 360 virtual images
• Insurance
• Preventive maintenance
• Real-time financial and rental reporting
• Eviction services including attorney representation
• Debt collections
• Interior and exterior renovation services

LREI Property Management, Inc Locations

In the Kentucky market, the services offered by LREI Property Management are available in:

• Bardstown
• Brandenburg
• Brooks
• Crestwood
• Elizabethtown
• Eminence
• Frankfort
• Fort Knox
• Jeffersontown
• La Grange
• Lebanon Junction
• Louisville
• Mount Washington
• New Castle
• Prospect
• Radcliff
• Shelbyville
• Shepherdsville
• Simpsonville
• Taylorsville
• Waddy

LREI Property Management, Inc Property Types

LREI Property Management works with single-family homes, condos, and apartment units.

LREI Property Management, Inc Costs

LREI Property Management offers 3 different service packages, where the pricing depends on the services and the number of managed units, including:

Leasing Only: This plan covers everything needed to rent out a property.

• Leasing fee: 50% of one month’s rent for a minimum of $450
• Lease preparation with fast digital signing: $99
• Detailed move-in inspection with 360 imaging: $85

Standard Plan: This plan covers everything in Leasing Only plus all the services required to manage a rental property.

• Leasing fee: 50% of one month’s rent for a minimum of $450
• Monthly management fee: 8%-10% of monthly rent for a minimum of $50
• Lease renewal fee: $150
• Initial property setup fee: Starting at $99
• Rental registration (optional): $30
• Monthly and end-of-year financial reports: $40/year
• Annual gutter cleaning: $125
• Annual heating system check and carbon monoxide testing: $120
• Additional inspections: $85

50+ Unit Owner: This plan works for the owners of multiple rental units.

• Leasing fee: 50% of one month’s rent for a minimum of $450
• Monthly management fee: 7% of monthly rent for a minimum of $50
• Lease renewal fee: $75
• Initial property setup fee: $500
• Rental registration: $30
• Monthly and end-of-year financial reports: $40/year
• Annual gutter cleaning: Additional fee
• Annual heating system check and carbon monoxide testing: Additional fee
• Additional inspections: $85

LREI Property Management charges a lot of different fees in addition to the most management cost, which is suboptimal. Nevertheless, the company provides steep discounts for the management of 50+ units, which makes it the top Kentucky property manager for landlords with portfolios.

LREI Property Management, Inc Terms

LREI Property Management works with an initial management contract of 12 months, which gets automatically renewed to a month-to-month agreement. Real estate investors can cancel services after the end of the initial 12-month period with a 30-day written notice.

LREI Property Management, Inc Reviews

More than 500 real estate investors and tenants have reviewed LREI Property Management, Inc on third-party websites. Their reviews show excellent overall experiences.

You can find LREI Property Management reviews on:

• Birdeye: Currently 4.5/5 stars based on 254 reviews
• Google: Currently 4.6/5 stars based on 218 reviews
• Facebook: Currently 4.8/5 stars based on 36 reviews
• BBB.org: Currently 3.0/5 stars based on 8 reviews
• Yelp: Currently 4.7/5 stars based on 3 reviews

Positive reviews focus on the excellent services to tenants, the great tenants, the quick fixes of problems, the transparency, the knowledge, the responsiveness, the promptness, the professional, the helpful team members, and the fast communication. Negative reviews talk about disappointing practices, slow responses to issues, lack of professionalism and experience, and lack of communication.

How to Get Started with LREI Property Management, Inc

To get started with the best property management company in Kentucky for investors with large portfolios, property owners can submit an online form via the LREI Property Management, Inc website or call 502-251-7022.

Kentuckiana Property Management: Best for Flexibility

Kentuckiana Property Management is a local, full-service property management company operating across the Greater Louisville Metro area and surrounding markets. Travis Thomas and Jeffery Carter launched the company in 2017, with headquarters in Louisville, KY. The property management team understands that real estate is the most valuable asset for the investors they work with and treats each and every investment property as if it were their own. Kentuckiana Property Management is the best Kentucky property management firm for offering several different service plans from which owners can choose.

Kentuckiana Property Management Services

As a full-service property manager, Kentuckiana Property Management takes care of:

• Current rental market analysis and insights
• Traditional and digital property marketing and advertising
• Property showings
• Extensive tenant screening
• Pet screening
• Lease preparation
• Move-in and move-out inspection reports with photos
• Mid-lease property condition report
• Rent collection
• Owner earnings disbursement via direct deposit
• Tenant relations and communication
• Coordination of maintenance requests and repairs
• Detailed financial reporting
• Monthly statements
• End-of-year statements
• Eviction oversight and protection

Moreover, Kentuckiana Property Management offers the following protection for landlords with some service plans:

• 12 Month Tenant Placement Guarantee

Kentuckiana Property Management Locations

Kentuckiana Property Management operates in the following parts of the Kentucky market:

• Clifton
• Crescent Hill
• Germantown
• Highlands
• Highview
• Hillview
• Jeffersontown
• Louisville
• Middletown
• Nu Lu
• Old Louisville
• Prospect
• St. Matthews

Kentuckiana Property Management Property Types

Kentuckiana Property Management works with single-family homes and multifamily apartment buildings with 2-50 units, rented out for one or two years.

Kentuckiana Property Management Costs

Kentucky rental property owners can choose between four different service packages, including:

• Tenant Placement: This plan includes all services required to rent out a property.
• Full Service: This plan includes everything in Tenant Placement at a discounted rate plus all the basic tasks needed to manage a long-term rental business.
• Premium: This plan includes everything in Full Service plus 12 Month Tenant Placement Guarantee, mid-lease property condition report, and lease renewal.
• Multiple Property Owner: This plan is customized for the needs of owners of 5+ single-family homes.

This diversity of plans makes Kentuckiana Property Management the best Kentucky property management company for flexible options. However, the firm does not provide the fees associated with the four plans listed above on the website. Thus, investors in single-family and multifamily homes need to contact the team and enquire about the pricing structure.

Kentuckiana Property Management Terms

The Kentuckiana Property Management website does not explain the terms of the management agreement, so property owners should get in touch with the company and ask for a copy that they can diligently review.

Kentuckiana Property Management Reviews

Over 60 property owners and tenants have written online reviews of the services provided by Kentuckiana Property Management on third-party websites. Their reviews show very good overall experiences.

You can find Kentuckiana Property Management reviews on:

• Birdeye: Currently 4.2/5 stars based on 37 reviews
• Google: Currently 4.3/5 stars based on 32 reviews

Satisfied real estate investors and renters highlight the top-quality services, the smooth processes, the easy procedures, the professional and helpful team, the positive and responsive staff members, the great maintenance contractors, the reasonable fees, and the efficient communication. Dissatisfied customers write about unexpected fees, withholding of security deposits, and poor communication.

How to Get Started with Kentuckiana Property Management

To get started with the best property management company in Kentucky for flexibility, rental property owners can fill in an online form on the Kentuckiana Property Management website or call 502-882-0763.

Takeaway

These are the 6 best property management companies in Kentucky that can serve the needs of all investors. The absolute best property managers for long-term and short-term Kentucky rentals are HomeRiver Group and Awning, respectively. Hillcrest Property Management could be a good option for landlords on a budget, while LRE Property Management, Inc. offers the best terms for investors with big portfolios. The owners of different property types should check out Black Tie Real Estate Services, Inc., and those who would like to be able to choose from several plans can consider Kentuckiana Property Management.