If you’ve considered employing a property management service in Florida or other states, you will likely become overwhelmed by the options.
It is possible to find enough companies in the market that will handle your commercial properties and plenty to consider while contemplating the essential services and services you want.
Also, consider hiring a property manager as the accurate option for you.
However, if spending a premium on a property management company sounds inaccurate, alternative methods exist to streamline and simplify managing your property.
In this way, it becomes simpler to handle these properties independently.
However, before we discuss these, let’s glance at which of the biggest commercial property management firms are in the U.S.
What Does a Property Management Company Do?
The property management firm works directly with prospective renters and prospects. They benefit you by saving time and anxiety about advertising your rental properties, renting, responding to tenants’ complaints, dealing with maintenance problems, and enforcement, for example.
The most reputable property management companies will have the experience and knowledge to bring to your home, providing your security, which comes from knowing that your property is in good control. Additionally, since the management company can be considered an independently owned contractor, it is free of the hassles of working for an employer.
How We Selected the Best Property Management Companies
In the process of selecting our candidate, We focused our attention on these factors:
Services: We examined exactly what services every property management company offers and whether they’re fully or half-service management firms.
Market coverage analyzes whether or not a business has coverage of the whole U.S. market or is restricted by the score to a specific region.
Type coverage of properties Then, we checked whether the company can manage different kinds of properties for residential use or concentrate exclusively on a specific type.
The business model we studied was whether property managers use modern technology while maintaining human contact.
Costs and fees Then we took a peek into the price structure and determined what services are covered or whether extra services are charged in separate installments.
Online reviews: We analyzed the web presence of several companies that manage properties and found out the opinions of property owners and tenants. have to say about them.
Value in exchange for money: We looked to find accurate bargains on the U.S. market.
Greystar Real Estate Partners
Greystar Real Estate Partners retained its status as the world’s largest property management company, managing 726,826 properties, which is a boost of 702,257 units by 2024. Led by Robert A. Faith, and located with Robert A. Faith and headquartered in Charleston, South Carolina, Greystar continues to show its superiority in the management of properties.
B.H. Management Services
Our pick for the desirable property management firm for residential real estate would be B.H. Management Services. It has a wide collection of residential properties managed across the U.S. The company also provides unique, well-known programs that promote environmental and financial sustainability. These include Smart Home Technology and Green Conservation. B.H. Management Services will coordinate the development of custom-designed business intelligence and report on revenue management to keep track of and enhance your property’s efficiency.
Asset Living
Under Ryan McGrath’s leadership, Asset Living has experienced substantial growth. The firm, headquartered in Houston, Texas, manages more than 202,748 homes, an impressive boost from the 159,352 units it had in 2022. The growth is mainly due to a significant section of student housing showing their growing portfolio of various property types.
Stream Realty
Stream Realty Partners, based in Dallas, is an entity to reckon with. It was managing more than 159 million square feet of land under management as of the end of 2024. That’s an impressive increase of 21% over the year before. Stream is a land management company that handles everything from land management to retail, office, healthcare, industrial, and assets.
JLL
Last year’s winner finished fourth this year. JLL is a company to be reckoned with, having more than 3 billion square feet under its management. Its 12% management portfolio increase — though less than the awe-inspiring 33.5 percent reported in last year’s rankings was significant considering the total figures. JLL has a laser-like focus on retail, office, and Industrial property management.
AZ Home Buyer Group
Landon Luchtel started AZ Home Buyer to give homeowners an alternative to simplify selling. Within a short time, they’ve helped many customers with customized specifications and options so buyers can get their homes sold fast and for the highest price while keeping track of the nitty-gritty details! They understand how important customer service is. They’ve been looking to do everything feasible to ensure that their customers are cared for throughout the process.
Cushman & Wakefield
One of the more easily recognized businesses in the commercial real estate world. Cushman & Wakefield is also one of the biggest property management firms, having 4.8 billion square feet of space in its portfolio as of the year. It has experienced significant growth over the past few times, especially in the multifamily market, following its acquisition of Pinnacle Property Management Services in 2020. The firm also has an extensive global portfolio of industrial, office, and retail properties from Kosovo to Kazakhstan.
Colliers
Colliers International takes the second place on this year’s list. The company’s 2.5 billion-square-foot portfolio of management is impressive; indeed, it is growing rapidly, but the growth rate soared in 2021, increasing by a staggering 22.9 percent. The company has also continued to expand: in late 2022, it purchased Arcadia Management and a 60 million square feet portfolio. Colliers are present in over 60 nations today and can handle nearly all commercial real property.
What can a property management firm perform?
The companies that manage properties handle various steps for property owners, as described below.
Screen prospective tenants
The primary task of a property management company is screening potential tenants. The process includes submitting applications, checking earnings, contacting references, and conducting background checks of all prospective tenants who apply.
After the procedure is completed, the property management firm decides which tenant will be the most suitable to lease the property based on various aspects.
Manage tenant relationships
One of the biggest aspects of property management is managing the residents’ experience. It is important to ensure that when tenants ask queries, someone can help them whenever maintenance requests are made and processed promptly.
Property management firms maintain connections with your tenants to manage those above. They might even go above and beyond to occasionally check in with your tenants to warrant they’re satisfied with their rental properties.
Final Thoughts
The following list includes the most prominent stars in property management when we consider 2024. They have been an integral part of the sector, earning trust and a hefty market share thanks to their excellent services. From building brand recognition to figuring out ways to improve construction maintenance and decrease the risk of accidents, these firms are leading the way regarding quality and creativity.
If you decide to employ one of these companies to take care of one of your properties or a local business to handle the property, search for these essential characteristics to ensure you can get the desirable property management services available.