Best Property Management Companies 2022
Rudin Management Company
Founded in 1925, Rudin Management is a property management company in New York. The company's management portfolio consists of 18 residential, 16 commercial, and two condo buildings. Its management professionals provide quality customer service, cultivating long-term relationships. Rudin Management oversees routine maintenance projects and proactively responds to emergency repairs. It utilizes technology to streamline financial matters, offering clients and investors 24/7 access to online statements and payment availability. The company provides its clients with a thorough monthly accounting report.
ProRealty USA
ProRealty USA is a property management company that serves clients in New York City. With a combined experience of over 50 years in the industry, the team manages and maintains residential properties by creating value, financial planning, and upholding safety and compliance through monthly and annual inspections. They also cater their services for a multifamily setup by handling maintenance calls, screening prospective tenants, providing property insurance, and protecting their clients from unpaid rental income and other legal fees.
Stonehenge NYC
Stonehenge NYC is a private real estate company that has provided a full range of property management services for more than 26 years. Its property managers in New York focus on a core growth strategy that has resulted in the successful management and repositioning of Manhattan properties. They are dedicated to providing significant returns for its investors and offer a management portfolio consisting of 19 income-producing residential properties. The company is also committed to giving back to its communities.
Building Equity Management
Building Equity Management is a property management firm focusing on multifamily, co-op, condo, and mixed-use buildings in New York City. With successful individual real estate track records, Michael Vinocur and Brian Reilly launched BEM in 2012. The firm prides itself in its unparalleled responsiveness to calls, texts, and emails received from clients, shareholders, owners and tenants. BEM tailors its services to meet each clients' criteria, covering all aspects of financial management, maintenance, and regulatory compliance. It provides a thorough monthly accounting of all transactions.
Manhattan Realty Group
Manhattan Realty Group is a real estate brokerage firm serving New York City. It assists individuals looking to list their properties in the market by providing a marketing plan that aligns with the local market trends. Bringing more than 30 years of experience in the field, it handles the process of rental property supervision and management, which includes rent collection, tenant evictions, and mortgage and bill payments. The company also presents property listings on its website to help renters and investors.
StarCities Management
StarCities Management is a full-service property management company in New York. Its building management services include the detailed financial accounting of maintenance fees, accounts, tax return preparation, insurance, and Department of Housing registration. It also organizes and coordinates all routine maintenance projects and repairs. The company proactively responds to any emergency situation. It prepares and hosts board meetings and reviews board packages. Additionally, StarCities Management arranges and negotiates leases and renewals.
AKAM
Akam is a property management company located in New York City. It consists of 700 members responsible for supervising more than 52,000 units. Its team of professionals oversees different types of residential properties, including condominiums and investment apartments. They assist property owners with compliance administration, violation removal, and operations management. In an effort to give back to the community it serves, Akam volunteers for organizations like the American Breast Cancer Society and Make-A-Wish Foundation.
Property Link Management
Property Link Management provides short- and long-term rental solutions to accommodate its residents' needs. The company's property managers in New York work with clients to find a property in one of the company-owned buildings. The fully furnished short-term units are available for stays of longer than 30 days. They are pet-friendly and are equipped with wi-fi, an outfitted kitchen, linens, and air conditioning. Its long-term apartments provide tenants with traditional apartment living.
Real Property Management New York Gold
Real Property Management New York Gold provides its clients with a full range of management services. The company's leasing professionals manage single-family homes, apartment complexes, and multi-family residences. The company communicates with the property owners and investors to determine their requirements and financial goals. Some of Real Property Management New York Gold's services include comprehensive marketing and advertising, thorough tenant screening, full-service leasing, rent collection, regular inspections, maintenance, necessary evictions, and comprehensive accounting.
Elika Associates
Elika Associates is a real estate agency located in New York City, New York. Services include exclusive buyer agents, selling a clients’ home, investment advice, renters representation, commercial real estate, relocation specialists, and property management. Elika Associates is a proud member of the Real Estate Board of New York and National Association of Exclusive Buyer Agents.
Metropolitan Property Group
Metropolitan Property Group has provided property management services in New York City for more than 20 years. Its management team offers solutions for owners of rental and mixed-use buildings of up to 100 units as well as commercial condos and loft spaces. It handles elevator and walk-up buildings. Metropolitan Property Group customizes its strategies to maximize its clients' financial goals. The company's services encompass financial, marketing, maintenance, and legal concerns.
EK Realty, LLC
EK Realty, LLC is a full-service property management firm that is located in New York City, New York. Property management services include on-site property supervision, payroll services, computerized reports, violation compliance, preventive maintenance, business plans, and more. EK Realty, LLC also offers refinance advice, property evaluation, architectural support, technical support, property analysis, and operational directives. This firm is a proud member of RSA and the Real Estate Board of New York.
Citadel Property Management Corp.
Citadel Property Management Corp. offers a wide range of property management services in New York. The company's professionals work to maximize the net income of their clients' properties. They manage planning and budgeting as well as advertising. Citadel Property Management Corp. conducts thorough tenant screenings, negotiates leases, and collects rents. It manages routine maintenance and proactively responds to emergencies. The company also manages all financial matters, including insurance and filing permits and certificates. It provides clients with detailed monthly statements.
Daisy
Daisy is a full-service property management company that delivers technology solutions to elevate building life for condos and co-ops in New York City. To provide better management services, its team of industry professionals utilizes the Daisy operating system such as messaging apps and web-based applications in daily onsite operations. Using building data dashboards, they assist clients in maximizing maintenance programs, managing projects, creating capital expenditure plans, and analyzing and renegotiating contracts to save money. Board members can reach the team through chat 24/7.
Katy Hine Company LLC
Founded in 1994, Katy Hine Company LLC provides apartment and property management services in New York. Its team manages all aspects of property maintenance in the owner's absence. The company customizes its services to meet the client's needs. It organizes seasonal home openings and closings and prepares surroundings for the owner's arrival. The company organizes and orchestrates all types of home repairs and supervises contracted repair services. It ensures the safety of all valuables and provides detailed accounting of services.
R Management
R Management is a full-service property management company responsible for the care of commercial and mixed-use properties, office and apartment buildings, and townhouses. Its team of management professionals offer customized solutions to help their clients achieve their goals. Their services include online rent payment options for tenants with technology benefits for owners. All income, documents, and expenditures are available to access 24/7. The company also manages routine and emergency maintenance and provides periodic property inspections.
ViVODOMi
ViVODOMi is a home management and concierge agency in New York that provides a wide range of client services. It focuses on managing single-unit residences that individuals and families maintain in the city but don't live in full-time. The company offers weekly in-person monitoring and inspections and sends property owners a weekly report with images. It also takes care of any emergency maintenance problems, such as burst pipes and electrical issues.
Orsid New York
Orsid New York is a property management firm that specializes in multi-family homes, condos, and co-ops. Its staff advises clients on changes in city, state, and federal laws and works to ensure their properties remain compliant. It also handles financial operations like developing annual operating budgets, financial reporting, and capital planning. The company maintains an apartment alterations department to manage renovation and remodeling projects for managed properties. Since its founding in 1955, Orsid New York has managed over 17,000 rental units spread across 170 buildings.
Guardian Property Management of Brooklyn
Guardian Property Management of Brooklyn has been serving clients in New York City since 2005. It specializes in managing condo units, multi-unit buildings, and cooperatives. Its services include maintaining and updating insurance policies for managed properties, enforcing building codes, and regular property inspections. It also uses industry-standard property management software to provide owners with financial accounts. The company has spent over a decade appraising local contractors and choosing qualified parties to perform maintenance services on its managed properties.
Maison International
Maison International is a real estate agency that is located in New York City, New York with an additional office in Marina del Rey, California. This company provides exclusive sales and rentals. Property management services feature excellent value, expertise in securing quality tenants, administrative ease, highly proactive client service, and a proven track record. Maison International also offers relocation services. This company is eager to assist anyone with corporate real estate rental and purchasing needs.
The Gitto Group
The Gitto Group is a holistic commercial real estate company with offices in Port Jefferson, New York and New York City, New York. This company offers landlord representation, tenant representation, investment sales, financial management, property management, and general construction. Property management services include day-to-day oversight of property, maintenance and repair of property, 24-hour emergency service, competitive bidding on all contracts, annual operating budget preparation, capital budget preparation, and more. The Gitto Group's property management team recognizes the need for personal attention to each and every property.
R.E.M. Residential
R.E.M. Residential provides its clients with full-service management options for their condo or co-op buildings. The company's property managers in New York attend to the day-to-day operations of their clients' properties. They represent owners and investors at board meetings and are prepared to discuss such topics as management reports, open building and shareholder issues, and new business. The company provides its clients with customized reports that include cash flow, income and check registers, payables, and bank reconciliations and statements.
XL Real Property Management
Established in 2012, XL Real Property Management is a residential management contractor in New York City. With a particular focus on luxury apartments, its managers aim to help rental property owners enjoy the benefits of being a landlord without the stress that comes along with it. XL Real Property Management has years of experience taking care of all aspects of rental management, including tenant acquisition, leasing, rent collection, tax filing preparation, and inspections. The company also handles maintenance and repairs, with emergency services available to residents 24 hours a day.
AA Realty Group
AA Realty Group manages rental homes and condominiums in New York City and other surrounding areas. The company has been creating customized plans that suit the needs of owners and properties for more than 15 years. It focuses on providing services that help generate revenue constantly and keep tenants satisfied. To achieve these, the firm's property managers communicate with tenants, handle accounting and finance matters, and take care of all operational needs.
Venture NY Property Management
Venture NY Property Management is a family-owned and operated business providing a comprehensive range of management services. The company performs an assessment of each available property, prepares and advertises it, and completes background tenant screenings. Its team manages move-in/move-out and periodic inspections and conducts routine maintenance. The 24/7 emergency service is available when repairs can't wait. Each client is provided a dedicated property manager to efficiently handle all financial matters and answer any questions.
NYC Apartment Management
NYC Apartment Management offers a variety of services to property owners in New York City. The firm focuses on managing co-ops, condos, and properties in historic neighborhoods. The team processes board applications and collects the rental payments of tenants. It provides reports to landlords that include financial statements with breakdowns of expenses and inflows. NYC Apartment Management was opened in 2013 by principal Adam Kapner. He had a decade of property management experience by then, having handled 250 units in Gramercy Park.
MD Squared Property Group
MD Squared Property Group is a property management company that services the communities in New York City. It offers consultations regarding a client's property. Additionally, its team uses management techniques, makes recommendations, handles property operations and maintenance, and analyzes building tenancy. It was co-founded by Dawn Dickstein, who has over 20 years of experience in the industry. Michael Mintz, who has experience in property management and real estate, co-founded the company and is now serving as its CEO.
AMPM Property Group
AMPM Property Group provides real estate management services to clients in New York City and the surrounding communities. The company handles a variety of property management tasks for investors, homeowners, and multi-property landlords. These tasks include responding to tenant inquiries, screening tenant applications, collecting rent payments, inspecting properties, bookkeeping, and arranging for maintenance and repairs. The group also oversees legal compliance and tenant-landlord communication. Alexander Meskouris, the firm's lead property manager, has handled various types of properties, including condominiums, apartment rentals, and luxury homes.
Top Hat Home Services
Top Hat Home Services is a full-service real estate management company that is located in New York City, New York. This company covers building management, consulting, investment properties, construction and project management, landmarks and green initiatives. Whether clients own a small building, a single-family townhouse, or an apartment, Top Hat Home Services can manage them all. Crew members are bonded, insured, and licensed.
Alpha Properties
Alpha Properties caters to clients in New York City and the surrounding communities. It offers property management solutions to help owners or landlords maintain and handle their apartments or buildings. The company also guides individuals or families looking for rental properties around the area that fit their needs and lifestyles. Alpha Properties has a list of commercial rental properties, including offices and retail stores. Its operations director, Sunny I. Zachi, brings 14 years of industry experience.
My Property Man
My Property Man is a locally owned and operated company that serves property owners from New York City and the surrounding areas. It provides 24/7 property management services, which include routine inspections and preventative maintenance, pest exclusion, and repair services. It also offers financial and legal services such as common charge collection, bookkeeping, and violation clearing. My Property Man has been in operation for more than a decade. The company works with real estate professionals, lawyers, plumbers, electricians, and handymen.
Bungalow
Bungalow handles the property management and rental leasing of apartment rooms and bedspaces in New York City. It supports homeowners by producing 3D maps, digitally staged photos, and multi-site listings of their properties. It also provides property management services, in-house maintenance by technicians, and account representation with dedicated personnel. The company also serves home seekers with its namesake app that enables online apartment search, virtual tour, leasing application, communication with future roommates, and lease agreement signing.
Trion Real Estate Management
Trion Real Estate Management is a full-service real estate company focusing on residential and mixed-use property management in New York City. In operation for more than 40 years, the firm manages each clients' property as a valuable asset while enhancing their residents' lifestyles. The company's real estate professionals develop a management strategy tailored to meet the client's requirements. They offer services that encompass maintenance, 24/7 emergency response, cyber security, leasing and sales responsibilities, and weekly updates.
Dansar Group
Dansar Group is a boutique real estate company that serves clients throughout New York City. It specializes in residential property management, sales, and rentals. The family-owned business designs strategies to maximize clients' profits. Its services include the preparation and advertisement of properties and tenant screening. Accordant with owner guidelines, the company's team handles routine maintenance issues and responds to emergencies promptly. Dansar Group has been helping landlords, tenants, and investors in the community since 1982.
Superior Management Inc.
Superior Management, Inc., caters to clients in New York City and the surrounding areas. It manages different types of properties, such as condominiums and cooperative, commercial, and residential spaces. The company handles various tasks, including lease renewal and termination, new appliance installation, maintenance, and rental payment collection. Superior Management has been in the business since 1933. It extends its services to the Manhattan neighborhoods of Chelsea, Greenwich Village, Soho, and West Village.
Gumley Haft
Gumley Haft has been providing a full range of residential and commercial property management services in New York City since 1989. Its property managers customize solutions and programs to match clients' unique requirements. They also implement preventive maintenance measures and integrate advanced technologies and financial resources. Led by its CEO, Daniel Wollman, the company aims to offer high-quality services that make each client feel like their property is the only one the firm looks after.
Expert Answers To Common Questions:
- What is property management?
- What does a property manager do?
- How much do property management companies charge?
- How do I manage a rental property from out of state?
- Does a property manager need a real estate license?
- How do I find a good property management company?
- Do property management companies find tenants for rental properties?
- How do I manage a vacation rental property?
- Do property managers pay for repairs?
- Can a property manager evict a tenant?
- Can a property manager sign a lease for an owner?
- Is property management worth the cost?
- How do I deal with a bad property management company?
- Q: What is property management?
- A: Property management is the business of controlling and overseeing real estate, including residential and commercial rental properties. These professionals handle general maintenance and day-to-day operations on behalf of the property owner. They’re responsible for marketing properties, finding and screening tenants, collecting rent, and preparing units between leases. They may also handle repairs, evictions, and any problems that arise.
- Q: What does a property manager do?
- A:
Professional property managers perform critical tasks throughout the leasing life cycle, from preparing a rental property, through tenant move-ins and move-outs. They can also provide referrals for legal advice, home repairs, and services that aren’t covered by the management agreement. Here are some of their key responsibilities:
- Marketing and listing vacant units
- Processing applications and screening tenants
- Conducting quarterly and annual inspections
- Orchestrating move-in procedures
- Coordinating maintenance and repairs
- Collecting rent and applying penalties
- Conducting move-out inspections and returning deposits
- Handling evictions and posting quit notices
- Complying with fair housing regulations
- Compiling monthly expense reports
- Preparing annual tax documents
- Q: How much do property management companies charge?
- A: Property management fees can vary substantially depending on the size of the property, number of units, and scope of service. Property owners can expect to pay one month of rent to fill vacant properties and 10% of the gross cash flow to manage the property. Investors should also account for monthly maintenance, contributions to a reserve repair fund, and early termination fees if they decide to cancel the property management contract. Evictions and other non-routine services typically cost extra.
- Q: How do I manage a rental property from out of state?
- A: Managing a property isn’t easy, and the job is even more difficult for out-of-state landlords. Thorough tenant screenings are the best way to prevent many common problems. Landlords should also maintain strong relationships with neighbors who can alert them if anything goes wrong. Investors who prefer a more hands-on approach should consider hiring a property manager to represent their interests.
- Q: Does a property manager need a real estate license?
- A: Yes, in most states, property managers must have a real estate license to advertise rentals, show properties, sign lease agreements, collect rent, and perform other fiduciary activities. A community association manager license or similar certification may also be required for professionals who want to work for an HOA or apartment complex, although this credential is optional in most states.
- Q: How do I find a good property management company?
- A:
Property managers differ significantly in their approach and level of expertise. It’s important for owners to screen potential candidates to ensure that they're choosing the most qualified professional. Here are a few questions to ask during the interview:
- How many units do you manage?
- How big is your staff?
- Do you have a maintenance crew?
- How long does it take to fill vacant units?
- What happens if my tenant doesn’t pay on time?
- Have you ever filed an eviction?
- What type of communication can clients expect from you?
- Q: Do property management companies find tenants for rental properties?
- A: Yes, finding tenants and filling vacancies are key responsibilities for property managers. These professionals are responsible for advertising the property, and they handle all inquiries, applications, and showings. To find the most qualified tenants, managers perform background and credit checks, verify references, and confirm the applicant’s employment information, which can prevent problems and extra costs down the road.
- Q: How do I manage a vacation rental property?
- A: Managing a vacation home or short-term rental requires a higher level of involvement when compared to other investment properties. Owners or managers must handle marketing, reservations, check-ins, and cleanings between stays. While a recent study by vacation rental marketplace HomeAway (now part of VRBO) reports that vacation rental income comprises about a quarter of the average rental owner’s income from investing just under 10 hours per week managing their rental, this type of hands-on involvement may not be possible for owners who live out of state or in another region. Professional property managers can assist with one or more tasks, such as cleanings and check-ins, or they can provide comprehensive management services to ensure that the property is generating revenue year-round.
- Q: Do property managers pay for repairs?
- A: Yes and no. Property managers may pay for repairs, but the cost is generally deducted from future rent payments or a reserve fund. In most cases, landlords are responsible for maintenance costs and improvements that are needed to preserve or enhance the property’s value. Management firms do coordinate repairs, and some have their own maintenance crews. They can also provide contractor referrals and handle work orders for routine repairs, such as cleaning, painting, plumbing, and changing locks between tenants. Many firms allow tenants to submit maintenance requests online, and they should also provide monthly expense reports showing owners how their money is being spent.
- Q: Can a property manager evict a tenant?
- A: Yes, property managers can help to orchestrate the eviction process, from preparing the initial notices to appearing in court and working with law enforcement to ensure that the tenant leaves the property. Situations that warrant eviction include non-payment of rent, lease violations, and illegal activity. Property managers can help to determine the best course of action when dealing with problem tenants.
- Q: Can a property manager sign a lease for an owner?
- A: In most states, a property manager can sign a lease. Property owners can appoint a third party to act as a landlord by signing a contract with a management company or by giving power of attorney to a private individual. However, for the contract to be valid, the property manager must have the owner’s authorization.
- Q: Is property management worth the cost?
- A: Property managers aren’t cheap, but they’re a worthwhile investment in many cases. Managing a rental property requires time, experience, diligence, and attention to detail. Professional property managers can assist new landlords and long-term investors who have a growing portfolio of rentals. They’re also valuable partners for individuals who work full time, live out of state, or want to enjoy the financial rewards of an investment property without added stress and anxiety.
- Q: How do I deal with a bad property management company?
- A: Unresponsive property managers cause problems for property owners and tenants. Reputable management firms should work hard for their fees. No landlord wants to hear from their tenants that the management company isn’t doing its job or is ignoring their concerns. If the manager is skipping routine inspections, accepting bad tenants, or failing to provide monthly expense reports, it’s probably time to hire someone else. Owners should interview several candidates, compare rates, and check references to find a more qualified manager.
