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The Louisville real estate market is a great place to invest in rental properties in 2023. Property prices are affordable, below the national averages, which makes this a good location even for beginners with limited budgets. Meanwhile, demand is strong for both short-term and long-term rentals.
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 Louisville, KY are:
- HomeRiver Group: Best Overall Property Management Company in Louisville
- Real Property Management Midwest: Best for Simple Flat Fee Pricing
- Kentuckiana Property Management: Best for Flexible Options
- LREI Property Management: Best for Big Portfolios
- PMI Louisville: Best Large-Scale Property Manager
How We Selected the Best Property Management Companies in Louisville
Ranking the top property managers in any market should take into account numerous factors and indicators in order to be comprehensive and objective.
In our selection of the best property management companies in Louisville, we focused on:
- Property management services: We searched for companies that deliver full-service property management at high quality to bring passive rental income to Louisville real estate investors.
- Property management fees: We selected property managers that have a clear pricing structure with no hidden fees.
- Geographical coverage: We looked for property management companies operating in all areas of the Louisville market.
- Property type coverage: We included property managers that work with different kinds of residential properties rented out on a daily and annual basis to meet the needs of all investors.
- Company size and headquarters: We ranked both small, local property management companies and large, national property managers so that property owners can choose their preferred style of management.
- Combination of real estate technology and human interventions: We made sure that selected companies benefit from available technology to optimize performance while applying human efforts where they are most needed.
- Online reviews by property owners and renters: We took into consideration the overall ratings of companies on reputable third-party review websites in addition to reading through individual reviews.
- Value for money: At the end, we chose the 6 property managers that bring the best value for money to investors in the Louisville market.
HomeRiver Group: Best Overall Property Management Company in Louisville
HomeRiver Group is the largest third-party manager of residential long-term rental properties in the US market. John Hirschfeld, Andrew Propst, Doug Dale, and Joshua Bangert started the company in 2016, with headquarters in New York, NY. Currently, they manage 40,000+ rental properties and 32,000+ homes within HOA communities in 32 US states. The company has achieved this wide coverage by acquiring top best property managers in each market and turning them into partners. HomeRiver Group is the absolute best property management company in Louisville because of offering full services at competitive rates.
HomeRiver Group Property Management Services
The Louisville office of HomeRiver Group ensures full-service property management that includes:
- Expert market analysis to maximize ROI
- 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
HomeRiver Group manages properties across the entire Louisville rental market as well as in surrounding areas.
HomeRiver Group Property Types
The Louisville branch of HomeRiver Group works with single-family homes and small multifamily properties.
HomeRiver Group Property Management Costs
The website of HomeRiver Group Louisville does not provide information on the local property management fees. In other markets, the company always charges competitive fees that are either flat fees or percentages of rental income, in line with local trends.
Residential rental property owners can expect to have to pay a leasing fee, a monthly management fee, a lease renewal fee, and an inspection fee.
HomeRiver Group Property Management Terms
The Louisville office of HomeRiver Group does not discuss the details of the local management agreement. In most cases, the company works with an initial contract of 6 or 12 months, after which monthly agreements become an option too.
HomeRiver Group Property Management Reviews
There are no online reviews of the work of the HomeRiver Group Louisville office.
You can find general HomeRiver Group reviews on:
- Google: Currently 4.1/5 stars based on 53 reviews
Happy real estate investors and tenants praise the great experiences, the excellent, prompt services, the timely and seamless transactions, the efficiency, the very professional and courteous team members, and the knowledgeable and delightful staff. Unhappy customers mention unethical practices, lack of updates, and untrustworthy and neglectful staff members.
How to Get Started with HomeRiver Group Property Management
To get started with the best overall property management company in Louisville real estate investors can submit an online form via HomeRiver Group or call 415-610-7867.
Real Property Management Midwest: Best for Simple Flat Fee Pricing
Real Property Management Midwest (RPM Midwest) is a franchise of Real Property Management operating in several cities in Kentucky and Ohio. Kirk McGary and Doug Oler founded RPM in 1986, with headquarters in Salt Lake City, UT. Currently, the company provides full-service residential property management services in multiple markets across the US and Canada, through 300 franchises. The Midwest branch was established in 2007, with headquarters in Cincinnati, OH. The team aims to offer high-quality services to property owners and residents by protecting investments, minimizing costs, and maximizing income. RPM Midwest is the best property management company in Louisville for simple pricing as they charge a single flat fee for taking care of single-family homes.
Real Property Management Midwest Services
RPM Midwest provides full-service property management services to rental property owners in Louisville, including:
- Targeted property marketing
- In-person showings
- 3-point comprehensive tenant screening including multi-state criminal, credit, and evictions records
- Preparing lease agreements
- Move-in assessment
- Move-ins and move-outs
- Transferring keys
- Transferring utilities
- Rent collection
- Owner payout disbursement
- Owner communication
- Tenant communication
- Routine inside and outside property inspections
- Around-the-clock emergency maintenance
- Maintenance work via in-house staff
- Financial reporting
- Evictions
Moreover, Real Property Management Midwest offers a couple of guarantees to landlords:
- Rent Payment Guarantee: Property owners will receive their funds on time every month even if the tenant does not pay rent on time.
- Eviction Protection Guarantee: The company will pay the cost to evict a tenant if they violate the terms of the lease for any reason.
Real Property Management Midwest Locations
RPM Midwest operates in Louisville, KY, Northern Kentucky, Cincinnati, OH, Columbus, OH, and Dayton, OH.
Real Property Management Midwest Property Types
RPM Midwest specializes in the management of single-family homes, but they also work with condos and apartment buildings.
Real Property Management Midwest Costs
For the management of single-family homes, RPM Midwest charges a single, simple, flat fee of $89/month. There are no setup fees or maintenance markups. This makes RPM Louisville the best property management company for clear pricing in the local market, especially for single-family rental home investors.
The property management fees for multi-family properties are customized.
The only additional fees apply to owners who’d like to benefit from the available guarantees:
- Rent Payment Guarantee: $19/month
- Eviction Protection Guarantee: $19/month
The 2 value-added services can be bundled together for $29/month.
Lease only services are available too.
Real Property Management Midwest Terms
The website of RPM Midwest does not specify the terms of the management agreement. Thus, interested property owners need to contact the local team and ask for a copy that they can review before deciding if this is the best Louisville property manager for their needs.
Real Property Management Midwest Reviews
There are more than 150 online reviews of the services provided by the Midwest office of Real Property Management. They show mixed experiences.
You can find RPM Midwest reviews on:
Happy property owners and tenants emphasize the beautiful rentals, the fantastic neighborhoods, the good handling of complicated situations, the timely solutions to problems, the integrity and transparency of team members, and the professionalism and helpfulness of staff. Unhappy customers complain about lack of performance, multiple issues with properties, poor maintenance services, and horrible communication.
How to Get Started with Real Property Management Midwest
To get started with the best property management company in Louisville for simple flat fee pricing, rental property owners can submit an online form via the Real Property Management Midwest website or call 866-500-6200.
Kentuckiana Property Management: Best for Flexible Options
Kentuckiana Property Management is a local, full-service residential property management company serving the Greater Louisville Metro area. Travis Thomas and Jeffery Carter started the company in 2017, with headquarters in Louisville, KY. The team understands that real estate is investors’ most valuable asset and treats every investment property as if it were their own. Kentuckiana Property Management is the top Louisville property manager for flexibility as they offer multiple service package plans to meet the needs of various investors.
Kentuckiana Property Management Services
Kentuckiana Property Management delivers the following services:
- Current rental market analysis and insights
- Traditional and digital marketing and advertising
- 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
In addition, Kentuckiana Property Management provides Tenant Placement Guarantee.
Kentuckiana Property Management Locations
The services provided by Kentuckiana Property Management are available in:
- 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 takes care of single-family homes and 2-50 unit multifamily apartments rented out for 1 or 2 years.
Kentuckiana Property Management Costs
Kentuckiana Property Management offers a few different service packages, which makes them the top property management company in Louisville for flexibility. The available plans include:
- Tenant Placement: This plan covers everything needed to place quality tenants.
- Full Service: This plan covers everything in Tenant Placement at a discounted rate plus all the basic services needed to run a long-term rental property business.
- Premium: This plan covers everything in Full Service plus 12 Month Tenant Placement Guarantee, mid-lease property condition report, and lease renewal.
- Multiple Property Owner: This plan targets the owners of 5+ single-family homes.
Kentuckiana Property Management does not provide the structure of the monthly management fees, so investors need to inquire about them to make sure that they are competitive in the local market.
Kentuckiana Property Management Terms
Kentuckiana Property Management does not specify the terms of the management contract. This means that property owners need to ask for a copy to review.
Kentuckiana Property Management Reviews
More than 60 real estate investors and renters have reviewed the work of Kentuckiana Property Management on third-party websites. Their reviews reveal excellent overall ratings.
You can find Kentuckiana Property Management reviews on:
Positive reviews focus on the high-quality services, the smooth and easy processes and procedures, the very professional and helpful staff members, the positive and responsive team, the amazing maintenance contractors, the reasonable fees, and the good communication. Negative reviews mention unexpected fees, withholding of security deposits, and lack of communication.
How to Get Started with Kentuckiana Property Management
To get started with the best property management company in Louisville for flexible options, real estate investors can fill in an online form on the Kentuckiana Property Management website or call 502-882-0763.
LREI Property Management: Best for Big Portfolios
LREI Property Management is a local, full-service property management company operating in several cities in Kentucky and Indiana. Clay Smith established the company in 2017, with headquarters in Louisville, KY. The team strikes to help owners maximize profits from their properties through the use of today’s best technology. LREI Property Management is the best property manager in Louisville for investors with large portfolios as it offers steep discounts for the owners of 50+ units.
LREI Property Management Services
LREI Property Management provides comprehensive services to Louisville landlords that include:
- Professional rental price analysis
- Rental registration
- Property marketing using Buildium with syndication on the Zillow Rental Network, Trulia, Yahoo, HotPads, Apartment List, My New Place, Lovely, and others and paid advertising
- 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 Locations
LRE Property Management operates in:
- Kentucky: 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, and Waddy
- Indiana: Clarksville, Corydon, Jeffersonville, New Albany, Palmyra, and Seatonville
LREI Property Management Property Types
LREI Property Management works with single-family homes, condos, and apartment units rented out on a long-term basis.
LREI Property Management Costs
LREI Property Management has 3 different service plans that include:
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 (optional): $125
- Annual heating system check and carbon monoxide testing (optional): $120
- Additional inspections (optional): $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 (optional): $30
- Monthly and end-of-year financial reports: $40/year
- Annual gutter cleaning (optional): Additional fee
- Annual heating system check and carbon monoxide testing (optional): Additional fee
- Additional inspections (optional): $85
The company offers heavily discounted monthly rates for the owners of 50+ units, which makes them the top Louisville property management company for investors with large portfolios.
LREI Property Management Terms
LREI Property Management works with a management agreement with an initial term of 12 months. After that, the agreement is automatically renewed for a month-to-month period. Property owners can cancel the contract at the anniversary of the commencement with a 30-day written notice. The terms are not flexible, so investors need to make sure that this is the right Louisville property manager for their needs before hiring LREI Property Management.
LREI Property Management Reviews
Over 500 property owners and tenants have written online reviews of LREI Property Management. Their reviews show very positive general experiences.
You can find LREI Property Management reviews on:
- Birdeye: Currently 4.5/5 stars based on 252 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
Satisfied rental property investors and renters highlight the excellent care of tenants, the wonderful tenants, the quick fixings, the transparency and knowledge, the super helpful and responsive staff, the prompt and professional team, and the fast communication. Dissatisfied customers complain about unprofessional and disappointing practices, slow responses to problems, crooked and inexperienced staff, poor customer service, and absence of proper communication.
How to Get Started with LREI Property Management
To get started with the best property management company in Louisville for big portfolios, owners of multiple rental properties can submit an online form via the LREI Property Management website or call 502-251-7022.
PMI Louisville: Best Large-Scale Property Manager
Property Management Inc. Louisville (PMI Louisville) is a locally owned and independently operated franchise of Property Management Inc. Property Management Inc. is a real estate asset management company that provides residential property management, among other services. Steven Hard created the company in 2008, with headquarters in Lehi, UT. Todd and Cindy Bingham opened the local branch of PMI, with headquarters in Louisville, KY. The team aims to offer the highest quality property management services with the help of state-of-the-art technology. PMI Louisville constitutes the best large-scale property management company in the local market because of its comprehensive services and strong reputation.
PMI Louisville Property Management Services
The property management services provided by PMI Louisville cover:
- Market rental rates analysis
- Property marketing
- Careful tenant screening including background and financial checks
- Legal compliance
- Rent collection
- Owner funds disbursement
- Regular in-person property inspections
- Handling maintenance requests and coordinating repairs
- Accounting
- Financial reporting
- Monthly statements
- Evictions
PMI Louisville Property Management Locations
PMI Louisville works in the following markets:
- Crestwood
- Elizabethtown
- Fisherville
- Fort Knox
- Goshen
- La Grange
- Louisville
- Mount Washington
- PeeWee Valley
- Prospect
- Radcliff
- Shelbyville
- Shepherdsville
- Simpsonville
- West Point
PMI Louisville Property Types
PMI Louisville manages single-family homes and apartment units.
PMI Louisville Property Management Costs
The website of PMI Louisville does not explain the property management fees in the local market. In other locations, Property Management Inc. charges competitive rates, aligned with local trends. Landlords should talk to the Louisville office to get quotes before getting started.
PMI Louisville Property Management Terms
PMI Louisville does not provide details on the management contract, so real estate investors need to get in touch with the team and ask for a copy.
PMI Louisville Property Management Reviews
There are 20+ online reviews of the work of PMI Louisville which reveal mixed experiences.
You can find PMI Louisville reviews on:
- Google: Currently 4.0/5 stars based on 20 reviews
- Facebook: Currently 3.9/5 stars based on 8 reviews
Good reviews focus on the great services, the straightforward processes, the prompt handling of maintenance requests, the good landlord and tenant protection, the professional and responsive team members, the understanding staff, and the quick communication. Bad reviews talk about poorly maintained properties, lack of professionalism, high fees, and extremely poor communication.
How to Get Started with Property Management
To get started with the best large-scale property manager in Louisville, property owners can fill in an online form on the PMI Louisville website or call 502-414-3260.
Takeaway
These are the 6 best Louisville property management companies. The absolute best property managers for long-term and short-term rentals are HomeRiver Group and Awning, respectively, for delivering comprehensive services at competitive prices. Real Property Management Midwest is the best option for investors who value straightforward pricing, and Kentuckiana Property Management is recommended for owners who’d like to be able to choose from different service plans. Investors with sizable rental portfolios should check out LREI Property Management, and those who prefer to work with a large-scale company should consider PMI Louisville.
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