Managing properties can be quite demanding.
Luckily, there are various tools available to simplify the process.
One effective option is to hire a property manager or a property management company. These professionals can oversee one property, multiple properties, or even handle all aspects of your property management needs.
If hiring a property management firm doesn’t fit your budget, there are alternative tools we’ll discuss later.
First, let’s explore the largest property management companies in the United States.
To make it easier, we’ve categorized the companies based on key property types:
- Multifamily properties
- Commercial properties
Largest Multifamily Property Management Companies
Numerous property management companies operate in the industry, but which ones stand out as the largest?
According to a self-reported survey conducted by Multi-Housing News, here are the top 10 multifamily property management companies ranked by the number of units they manage:
- Greystar Worldwide, LLC: 966,700 units managed
- Asset Living: 202,748 units managed
- Lincoln Property Co.: 213,900 units managed
- Cushman & Wakefield: 178,000 units managed
- RPM Living: 148,603 units managed
- FPI Management Inc.: 159,248 units managed
- Avenue5 Residential: 100,805 units managed
- WinnResidential: 105,673 units managed
- Morgan Properties: 95,219 units managed
- Bozzuto: 88,710 units managed
These top property management companies play a significant role in the multifamily housing sector, efficiently managing a vast number of units across the United States.
Greystar Worldwide, LLC ranks first among the largest property management companies, with Asset Living and Lincoln Property Co. following in second and third place, respectively.
Most companies in the top 10 saw a year-over-year (YoY) increase of 5% to 6% in their portfolios. However, RPM Living stood out with a remarkable growth rate exceeding 32%.
It’s important to note that this data may vary depending on the reporting source.
Largest Commercial Property Management Company
Now, let’s explore the largest commercial property management companies.
While these firms primarily focus on commercial properties, many also manage other types of properties, leading to some overlap with the previously mentioned list.
Based on a survey by the commercial property management platform Commercial Search, here are the top 10 commercial property management companies ranked by the square footage they manage (in billions):
- CBRE Group, Inc.: 7,100 million square feet (msf)
- Cushman & Wakefield: 4,811 million square feet (msf)
- JLL: 2,670.66 million square feet (msf)
- Colliers: 2,457.88 million square feet (msf)
- Lincoln Property Co.: 296 million square feet (msf)
- Hines: 308.09 million square feet (msf)
- Newmark: 204.39 million square feet (msf)
- Avison Young: 235 million square feet (msf)
- Transwestern Commercial Services: 214.96 million square feet (msf)
- TCN Worldwide: 144.47 million square feet (msf)
These top commercial property management companies are significant players in the industry, managing vast amounts of square footage across various commercial spaces.
It’s important to note that the list above is based on self-reported data. Several firms that could have made the list did not respond to the Commercial Search survey.
Moreover, since these figures are self-reported, they may not be entirely accurate, although this is currently the most reliable list available online.
Who Is the Biggest Property Management Company
According to survey data from property management companies across various property types, Greystar Real Estate Partners is identified as the largest multifamily property management company, while CBRE Group, Inc. holds the title of the largest commercial property management company.
Depending on the source of the survey, Greystar is estimated to manage between 600,000 and 800,000 doors, while CBRE manages approximately 7.1 billion square feet of commercial space.
Do You Need a Property Management Company
Here’s a little secret: you don’t necessarily need a property management company.
While they can provide valuable services, they often charge around 10% of your rental income, which can be a substantial expense—especially if your profit margins are tight.
If managing multiple properties feels overwhelming, consider more cost-effective alternatives. Property management software like DoorLoop is specifically designed to help you save time and money across all aspects of property management.
DoorLoop
Let’s explore some common time-consuming tasks in property management and see how DoorLoop can help you simplify or streamline these processes.
Rent Collection Takes Too Long, Or Late payments Are a Problem
With DoorLoop, tenants benefit from a dedicated portal where they can conveniently pay rent and manage other monthly responsibilities. They also have the option to set up automatic recurring payments. Additionally, you can automate late payment reminders, ensuring timely collections without the added hassle.
Maintenance Calls Are Inconvenient and Keeping Up with Repairs Is Time-Consuming
DoorLoop provides a comprehensive maintenance management system that allows you to establish workflows with automatic reminders for routine maintenance tasks. Tenants can easily submit maintenance requests directly through the app, which consolidates everything into a single, convenient platform.
From this platform, you can assign vendors and monitor the progress of each job efficiently.
Finances Getting Complicated
DoorLoop provides a complete suite of accounting tools that enables you to track, manage, receive, and pay all your financials from a single, user-friendly dashboard:
- Access a comprehensive chart of accounts and powerful reporting tools
- Print checks for vendors and property owners
- Automatically receive rent payments each month
- Reconcile bank accounts with ease
- Integrate with QuickBooks Online in just minutes
Tenant Communications Are Dispersed and Hard to Track
If communication challenges are an issue for you, why not streamline everything with DoorLoop’s convenient communication tools and comprehensive CRM platform? This feature enables you to track all communications from one central location.
Additionally, DoorLoop offers:
- Owner Portal: A dedicated space for owners to access important information and documents.
- Automatic Listings: Effortlessly list your properties on various platforms.
- Leasing Tools: Simplify the leasing process with easy-to-use tools.
- Tenant Screening: Conduct thorough background checks to find reliable tenants.
Schedule a free demo today to discover how DoorLoop can simplify property management and provide you with greater control over your entire portfolio.
Frequently Asked Questions
Who is the largest property management group?
As of 2024, the largest property management company is Greystar Worldwide, LLC. Operating 65 offices across 249 markets globally, Greystar manages over 966,700 units and student beds. Their extensive portfolio encompasses a variety of property types across different regions, solidifying their dominant position in the industry.
Who is the largest commercial property management company in the world?
The largest commercial property management company globally is CBRE Group, Inc. Managing approximately 7.3 billion square feet of commercial space, CBRE is the industry leader by a considerable margin. Their extensive portfolio features a diverse range of commercial real estate, including office buildings, retail spaces, industrial properties, and healthcare facilities.
Who is the largest apartment company in the US?
Greystar Worldwide, LLC, an international developer and manager based in Charleston, SC, holds the title of the largest owner of apartments in the United States. As of 2024, Greystar’s portfolio comprises nearly 109,000 apartment units.