Tennessee Property Management: Top 5 Options

Being home to cities like Memphis, Nashville, Knoxville, Gatlinburg, and Chattanooga, the Tennessee real estate market has always presented excellent opportunities to invest in short-term and long-term rentals. To generate passive income while boosting profit, local and remote investors can refer to the services provided by professional property managers.

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 Tennessee are:

• HomeRiver Group: Best Overall Property Management Company in Tennessee
• Mynd: Best for Single-Family Homes
• Foundation Property Management: Best for Rental Portfolios
• Reed & Associates of TN, LLC: Best for Landlord Protection
• Evernest: Best Large-Scale Property Manager

Meanwhile, you can check out the best property management companies in Memphis and the top property managers in Nashville.

How We Selected the Best Property Management Companies in Tennessee

In our ranking of the 6 best property management firms in the State of Tennessee, we relied on multiple factors to provide reliable, objective results:

• Quantity and quality of property management services: We reviewed the scope and quality of services that different companies provide in order to ensure that rental property owners can get passive income from their Tennessee rental properties.
• Property management fees and costs: We looked for property management companies that apply transparent pricing models with no hidden fees.
• Market coverage: We chose firms that operate in different parts of the Tennessee market for comprehensive coverage.
• Property type coverage: We selected property managers that work with different kinds of residential properties rented out on a short-term and long-term basis to meet the needs of all local and remote investors.
• Company size and locations: We included both small, local and big, national companies as each model of property management offers different pros and cons, and property owners should be able to choose their preferred style.
• Mix of technology and human efforts: We prioritized companies that use technologies to optimize processes without forgetting about the importance of human interventions in the rental industry.
• Online reviews on third-party websites: We checked the overall ratings and individual reviews by both property owners and tenants of short-listed companies.
• Value for money: We ranked the 6 firms that provide the best value for money in the Tennessee rental market.

HomeRiver Group: Best Overall Property Management Company in Tennessee

HomeRiver Group is the largest, third-party, long-term rental property management company in the US, with a strong presence in the Tennessee market. John Hirschfeld, Andrew Propst, Doug Dale, and Joshua Bangert founded the company in 2016, with headquarters in New York, NY. Currently, the company manages 40,000+ rental properties and 32,000+ homes within HOA communities in 31 states. HomeRiver Group has reached this wide coverage by acquiring the top property managers in each market and turning them into partners. In Tennessee, they have offices in Chattanooga, Memphis, and Nashville. HomeRiver Group is the best Tennessee property management company for delivering comprehensive services at competitive rates.

HomeRiver Group Property Management Services

The Chattanooga, Memphis, and Nashville HomeRiver Group offices offer full-service property management that includes:

• Expert market analysis for maximum return on investment
• Property marketing and advertising
• Property showings
• Extensive tenant screening including thorough background checks and national criminal background screenings
• Handling move-ins
• Rent collection
• Owner earnings disbursement
• Routine inspections
• Maintenance
• Handling repairs promptly
• Financial reporting
• Monthly and annual accounting statements
• Eviction protection

HomeRiver Group Property Management Locations

The Tennessee branches of HomeRiver Group work in:

• Chattanooga: Chattanooga, Easy Brainerd, East Ridge, Fort Oglethorpe, Hixson, Lafayette, Ooltewah, Red Bank, Ringgold, Signal Mountain, and Soddy-Daisy
• Memphis: Arlington, Atoka, Collierville, Cordova, Germantown, Hernando, Horn Lake, Lakeland, Memphis, Millington, Oakland, Olive Branch, Senatobia, Southaven, and West Memphis
• Nashville

HomeRiver Group Property Types

HomeRiver Group manages both single-family and small multifamily homes rented out on a long-term basis.

HomeRiver Group Property Management Costs

In Memphis, HomeRiver Group charges the following property management fees:

• Leasing fee: 50% of one month’s rent
• Monthly management fee: 8% to 10%
• Lease renewal fee: $250
• Biannual inspections: $95/unit
• HVAC tune-up: Per quote
• Gutter cleaning: Starting at $195
• Tenant holiday gift: $50

In the rest of the Tennessee market, fees are comparable.

HomeRiver Group Property Management Terms

HomeRiver Group works with an initial contract of 6 or 12 months. After the end of the initial period, property owners can choose a monthly option.

HomeRiver Group Property Management Reviews

More than 1,500 Tennessee landlords and tenants have reviewed the work of HomeRiver Group in the local market. Their reviews reveal very good overall ratings.

You can find HomeRiver Group reviews focused on Tennessee on:

• Birdeye (Memphis): Currently 3.5/5 stars based on 282 reviews
• Google (Memphis): Currently 3.5/5 stars based on 267 reviews
• Birdeye (Chattanooga): Currently 3.7/5 stars based on 265 reviews
• ChamberofCommerce.com (Memphis): Currently 3.6/5 stars based on 255 reviews
• Google (Chattanooga): Currently 3.7/5 stars based on 239 reviews
• ChamberofCommerce.com (Chattanooga): Currently 3.7/5 stars based on 239 reviews

Positive reviews highlight the high-quality services, the effortless processes, the excellent answers to all questions and concerns, the professionalism, the knowledge, the helpfulness, the reliability, and the prompt communication. Negative reviews discuss slow processes, unexpected fees, and suboptimal communication.

How to Get Started with HomeRiver Group Property Management

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

How to Get Started with Awning Property Management

To get started with the best property management company in Tennessee for short-term rentals, Airbnb hosts can schedule a call on the Awning website or call/text 415-223-2830.

Mynd: Best for Single-Family Homes

Mynd is a large, nationwide property management company focusing on single-family home rentals. Colin Wiel, Don Ganguly, and Doug Brien launched the company in 2016, with headquarters in Oakland, CA. Currently, Mynd has a portfolio of 11,000+ properties worth $3.5+ billion, in 25+ US markets. The firm works through local teams of professionals who strive to make the investment process stress-free so that property owners can focus on growing their financial assets and cash flow. In Tennessee, Mynd works through two local branches: in Memphis and Nashville. Mynd is the top property management company in Tennessee for long-term single-family home rentals.

Mynd Property Management Services

Mynd provides full-service property management covering:

• Getting properties rent-ready
• Marketing on 40+ rental websites including 3D tours
• Tenant screening
• Rent collection
• Owner earnings distribution
• Managing tenant satisfaction
• Avoiding liabilities
• HOA interactions
• Encouraging qualified residents to renew
• Terminating leases early (when needed)
• Property inspections
• Responding to maintenance requests
• Regular maintenance
• Financial reporting
• Providing tax reporting forms
• Evictions

Besides these services, Mynd also offers a couple of important guarantees for Tennessee landlords:

• $5,000 Rental Income Guarantee: The company will cover up to $5,000 in delayed rental income in case a resident placed by them misses a payment.
• $5,000 Eviction Protection Plan: Mynd will pay up to $5,000 in court costs and legal fees if a resident placed by them needs to get evicted.

Mynd Property Management Locations

Mynd operates in Memphis and Nashville as well as all surrounding areas.

Mynd Property Types

Mynd focuses exclusively on the management of single-family homes rented out on a long-term basis. This concentration makes them the best property management firm in Tennessee for single-family rental homes.

Mynd Property Management Costs

Mynd offers a single service plan, and the pricing depends on the number of properties that an investor has, including the following fees:

• Leasing fee: 50% of one month’s rent
• Monthly management fee: $79 - $99 per property
• Lease renewal fee: $249

This property management fee structure makes Mynd a particularly good choice for the owners of multiple single-family home rentals.

Mynd Property Management Terms

Mynd does not specify the details of the management agreement that needs to be signed. Thus, interested property owners should get in touch with the local Tennessee team and ask for a copy to review before making a decision.

The Mynd onboarding process is straightforward. Within three days of signing the contract, a Mynd team inspects the property to determine if it’s ready for renting. If the home is ready, they start marketing it immediately. If the home is not ready, Mynd prepares a list of needed fixes within a week, and they can get all the work done within 10 days.

Mynd Property Management Reviews

Around 400 Tennessee landlords and renters have reviewed the work of Mynd in Memphis and Nashville. Their reviews show very positive overall experiences.

You can find Mynd reviews focused on the Tennessee market on:

• Google (Memphis): Currently 4.6/5 stars based on 342 reviews
• Google (Nashville): Currently 4.9/5 stars based on 57 reviews

Happy real estate investors and tenants praise the incredible experiences, the professionalism, the helpfulness, the provided guidance, the thorough responses to all questions, the personability, the pleasant and supportive team members, the on-point customer service, and the prompt communication. Unhappy customers complain about excessive property problems, bad-quality work orders, slow handling of maintenance requests, withholding of security deposits, and bad customer service.

How to Get Started with Mynd Property Management

To get started with the best property management company in Tennessee for single-family homes, property owners can fill in an online form on the Mynd Memphis or Nashville office website or call 901-621-7525 or 629-219-5152.

Foundation Property Management: Best for Rental Portfolios

Foundation Property Management (Foundation PM) is a local, full-service property management company operating across the Memphis market. James Wachob founded the company, with headquarters in Cordova, TN. The team works based on the principles of professionalism, integrity, accountability, and quality service in an attempt to provide expert, personalized services to property owners. Foundation Property Management is the best property manager in Tennessee for portfolios as they offer discounts for multiple properties under their management.

Foundation Property Management Services

Foundation PM delivers the following property management services:

• Traditional and digital property marketing
• Property showings
• Tenant screening including reference verifications, background checks, and criminal history reviews
• Rent collection
• Owner earnings direct deposits
• Billing
• Legal guidance
• Handling residents’ requests
• Regular property inspections
• Proactive maintenance and repairs through a network of trusted vendors
• Financial reporting
• Owner statements
• Evictions

Foundation Property Management Locations

Foundation PM manages properties in the following Tennessee cities:

• Bartlett
• Brighton
• Cordova
• Drummonds
• Memphis
• Millington
• Munford

Their services are available in a few locations in Mississippi too.

Foundation Property Management Property Types

Foundation PM manages mostly single-family homes but also some other types of residential properties rented out on a long-term basis.

Foundation Property Management Costs

The property management fees charged by Foundation PM depend on the number of properties in an investor’s portfolio. The monthly fees are as follows:

• 1 or 2 properties: 10% of monthly rent
• 3+ properties: 8% of monthly rent

The major discounts available to property owners with multiple long-term rentals makes Foundation PM the best Tennessee property management company for investment portfolios.

Another fee that Foundation PM charges is markup on maintenance work, based on the following structure:

• $0-$250 in repairs: 20% markup
• $251-$500 in repairs: 15% markup
• $501-$1,000: 10% markup
• $1,000+: 5% markup

Foundation Property Management Terms

Foundation PM does not discuss the management contract that landlords need to sign. So, interested investors should get in touch with the company and ask for a copy to review diligently before opting in for their services. It’s important to know what is required to cancel in case you are not fully satisfied with the quality of services.

Foundation Property Management Reviews

There are over 1,200 online reviews of the work of Foundation Property Management that show generally positive experiences.

You can find Foundation Property Management reviews on:

• Birdeye: Currently 4.2/5 stars based on 647 reviews
• Google: Currently 4.3/5 stars based on 593 reviews
• BBB.org: Currently 1.0/5 stars based on 8 reviews

Satisfied property owners and tenants highlight the great services, the amazing rentals, the fast and efficient processes, the helpfulness, the courtesy, the care for customers, the reassuring team members, and the top-quality customer service. Dissatisfied customers mention absence of compliance, issues with appliances, sluggish handling of maintenance requests, slow implementation of required repairs, withholding of security deposits, and bad communication practices.

How to Get Started with Foundation Property Management

To get started with the best property management company in Tennessee for rental portfolios, investors with multiple properties can submit an online form via the Foundation Property Management website or call 901-633-1484.

Reed & Associates of TN, LLC: Best for Landlord Protection

Reed & Associates of TN, LLC is a local, full-service property management company whose services are available throughout the Memphis area. Mike Reed started the company in 1992, with headquarters in Cordova, TN. The team aims to deliver efficiency through their services to rental property owners. Reed & Associates of TN, LLC is the best property management firm in Tennessee for landlord protection as they offer more guarantees than other local companies.

Reed & Associates of TN, LLC Property Management Services

Reed & Associates of TN, LLC covers the following property management services:

• Professional rental market analysis
• Shotgun property marketing on several rental websites
• Self-showings using lockbox technology
• Thorough tenant screening including credit check, employment verification, debt-to-income ratios, eviction history check, and criminal history check
• Lease preparation and signing
• Rent collection
• Owner funds disbursement via direct deposit
• Tenant communication
• Renewal inspections
• Preventive maintenance
• Maintenance and service calls
• Accounting
• Payment of maintenance vendor bills
• Payment of monthly items
• Detailed financial reporting
• Annual statements, tax statements, and 1099s
• Eviction process assistance

Moreover, Reed & Associates of TN, LLC offers multiple guarantees to Tennessee rental property owners including:

• Happiness Guarantee: Landlords can cancel their management agreement at any time, with no penalty fees.
• Results Guarantee: Property owners don’t have to pay anything before the work of Reed & Associates shows results.
• Leasing Guarantee: Reed & Associates of TN, LLC will find a new tenant for free if a resident placed by them does not fulfill at least 6 months of a lease term.
• 30-Day Rental Guarantee: The property manager will provide one month of property management for free if they are not able to lease a rental in 30 days.

Reed & Associates of TN, LLC Property Management Locations

In Tennessee, Reed & Associates of TN, LLC operates in:

• Arlington
• Bartlett
• Collierville
• Cordova
• Fayette County
• Germantown
• Lakeland
• Memphis
• Millington
• Oakland
• Somerville
• Tipton County

The services provided by Reed & Associates of TN, LLC are also available in some locations in Arkansas and Mississippi.

Reed & Associates of TN, LLC Property Types

Reed & Associates of TN, LLC takes care of different kinds of single-family and multifamily homes rented out on a long-term basis.

Reed & Associates of TN, LLC Property Management Costs

Reed & Associates of TN, LLC offers a single service package incurring the following costs:

• Leasing fee: 50% of one month’s rent
• Monthly management fee: 10% of monthly rent
• Lease renewal fee: $250
• Periodic inspections: $75
• Maintenance coordination: 15% of cost

Reed & Associates of TN, LLC Property Management Terms

Under the Happiness Guarantee, rental property investors can cancel the contract as soon as they are not fully happy with services, without any penalty or termination fees.

Reed & Associates of TN, LLC Reed & Associates of TN, LLC Property Management Reviews

Over 300 landlords and tenants have written online reviews of Reed & Associates of TN, LLC. Their reviews result in very good overall ratings.

You can find Reed & Associates of TN, LLC reviews on:

• Birdeye: Currently 4.6/5 stars based on 213 reviews
• Google: Currently 4.7/5 stars based on 180 reviews

Positive reviews focus on the phenomenal experiences, the excellently maintained properties, the easy processes, the professionalism, the responsiveness, the honesty, the fair practices, the detailed answers to all questions, the attention to customer needs, and the staff members going above and beyond. Negative reviews discuss disappointing services, bad tenants, slow implementation of maintenance and repairs, and inefficient eviction processes.

How to Get Started with Property Management

To get started with the best property management company in Tennessee for landlord protection, rental property owners can fill in an online form on the Reed & Associates of TN, LLC website or call 901-758-1133.

Evernest: Best Large-Scale Property Manager

Evernest is a big, national, full-service property management company working with both single-family and multifamily homes rented out on an annual basis. Matthew Whittaker established the company in 2008, with headquarters in Birmingham, AL. At the moment, Evernest works with 15,000+ long-term rentals belonging to 6,000+ investors. The team bases its work on the values of doing the right thing, growing daily, owning the outcome, winning together, and embracing the grind. In Tennessee, Evernest works through four offices: in Chattanooga, Memphis, Murfreesboro, and Nashville. Evernest is the best large-scale property management company in Tennessee because it delivers comprehensive services at rates tailored to the needs of both small and big investors.

Evernest Property Management Services

The Tennessee offices of Evernest offer full-service property management covering:

• Initial property inspections and reports
• Marketing on the company website, Zillow, Trulia, and others
• Showings
• Tenant screening
• Tenant onboarding
• Rent collection
• Owner earnings distribution
• 24/7 tenant communication
• Annual property inspections
• Move-out inspections
• Maintenance work management
• Bi-annual HVAC preventive maintenance
• Yard maintenance during vacancies
• Gutter cleaning
• Rent protection
• Eviction protection

Moreover, Evernest provides a few types of protection including:

• 21 Day Lease Guarantee: Evernest will provide two months of free property management in case they don’t lease a property in 21 days.
• Maintenance Guarantee: The company will fix any vendor- or installation-related problem that appears within the first year for free.
• Resident Eviction Guarantee: The property manager will evict a tenant and find a new one for free in case a resident placed by them needs to be fully evicted in the first 12 months of the lease term.
• 100% Happiness Guarantee: Property owners can cancel the management agreement at any time with no penalties if they are not fully happy.

Evernest Property Management Locations

Evernest property management services are available in:

• Chattanooga: Collegedale, Downtown Chattanooga, East Brainerd, East Chattanooga, East Ridge, Hixson, Lookout Mountain, North Georgia, North Shore, Ooltewah, Red Bank, Signal Mountain, South Side, and St. Elmo
• Memphis: Cooper-Young, Downtown Memphis, East Memphis, Midtown Memphis, and South Memphis
• Murfreesboro: Downtown Murfreesboro, East Murfreesboro, North Murfreesboro, South Murfreesboro, and West Murfreesboro
• Nashville: 12 South, Brentwood, Downtown, East Nashville, Franklin, Germantown, Green Hills, Hillsborough Village, and The Gulch

Evernest Property Types

Evernest manages single-family homes, townhouses, condos, and multifamily properties with up to 50 units rented out on a 12-month basis.

Evernest Property Management Costs

Evernest offers three different pricing plans, where the pricing depends on the number of properties:

Prime: 1-2 units

• Leasing fee: 50% of one month’s rent for a minimum of $500
• Monthly management fee: 10% of monthly rent
• Lease renewal fee: $250
• Annual property condition report: $149

Plus: 2-4 units

• Leasing fee: 50% of one month’s rent for a minimum of $500
• Monthly management fee: 9% of monthly rent
• Lease renewal fee: $250
• Annual property condition report: $149

Pro: 5+ units

• Leasing fee: 50% of one month’s rent for a minimum of $500
• Monthly management fee: 8% of monthly rent
• Lease renewal fee: $250
• Annual property condition report: $149

The discounts available for multiple properties make Evernest a good option for the owners of several long-term rentals in Tennessee.

Evernest Property Management Terms

Under the 100% Happiness Guarantee, rental property investors are free to cancel their contract at any point, without having to pay any penalty fees.

Evernest Property Management Reviews

More than 4,200 property owners and tenants have reviewed the services that Evernest delivers in Tennessee.

You can find Evernest reviews focused on Tennessee on:

• Google (Nashville): Currently 4.7/5 stars based on 1,788 reviews
• Birdeye (Chattanooga): Currently 4.5/5 stars based on 668 reviews
• Google (Chattanooga): Currently 4.6/5 stars based on 620 reviews
• Google (Memphis): Currently 4.8/5 stars based on 533 reviews
• ChamberofCommerce.com (Chattanooga): Currently 4.6/5 stars based on 549 reviews
• TrustAnalytica: Currently 4.7/5 stars based on 80 reviews
• BBB.org: Currently 1.06/5 stars based on 18 reviews
• Yelp (Chattanooga): Currently 1.0/5 stars based on 14 reviews

Satisfied landlords and renters write about the great experiences, the outstanding performance, the nice, clean rentals, the smooth, user-friendly processes, the comprehensive explanations, the regular updates, the professionalism, the personable attitudes, and the top-notch communication practices. Dissatisfied customers mention terrible services, sluggish processes, unexpected fees, high charges, and lack of customer support.

How to Get Started with Evernest Property Management

To get started with the best large-scale property manager in Tennessee, landlords can submit an online form via the Evernest Chattanooga, Memphis, Murfreesboro, or Nashville office website or call 423-648-7368, 901-842-5730, or 615-925-3880.

Takeaway

Tennessee continues to be a great place to invest in real estate. Investors who want to make passive income can consider one of the 6 best property management companies in Tennessee, listed above. HomeRiver Group and Awning are the absolute top property managers for long-term and short-term rentals, respectively. The owners of single-family homes can check out Mynd, while those with portfolios can consider Foundation Property Management. Reed & Associates of TN, LLC offers the best protection for landlords in Tennessee, while Evernest is the best large-scale property management company in the local market.