Top Multifamily Property Management Companies of 2025
Find out which companies made MHN’s annual ranking of 75 industry leaders.
You can also read our other Property Management Firms rankings.
Key: A= Affordable Housing, MR= Market Rate, L= Luxury, St= Student Housing, Se= Senior Housing, X= Other
Though we make every effort to include all major property management companies, several notable firms (among them FPI Management, AMC and MAA) did not participate this year.
To be included in upcoming surveys, email Agota Felhazi at agota.felhazi@cpe-mhn.com.
It Was a Year of Growth for Multifamily Operators
This year’s ranking of the Top Multifamily Property Management Companies once again highlights 75 firms that continue to shape the sector, even amid such challenges as market stabilization, rapid technological progress as well as evolving resident demands.
These 75 leading companies collectively oversaw nearly 4.3 million units across 18,800 communities in 2024. Despite a competitive landscape, our respondents had an average occupancy rate of 93.3 percent, reflecting a modest increase of 8 basis points from the 2023 average. However, performance was varied, with 21 of the 75 companies achieving occupancy rates of 95 percent or higher. Six firms even reached an outstanding 97 percent or higher.
Overall, the outlook was promising across regions and multifamily asset types. Beyond occupancy, portfolio growth was a defining trend.
Forty-four of the 75 participating companies increased the number of units they managed. On average, those firms expanded their footprints by 11.9 percent compared to 2023. Relative to 2022, however, gains were even more pronounced, with 59 firms increasing their portfolios by an average of 27.2 percent. Notably, a few more than doubled their units under management between 2022 and 2024: Hines (up 112 percent), Sentral (up 160.5 percent) and Tishman Speyer (up 207 percent).
Greystar stood firm in the leading position, overseeing more than 980,000 units (a 17.5 percent increase) across nearly 3,700 multifamily properties. Asset Living made a leap from sixth place in 2024 to the No. 2 spot, with approximately 289,000 units managed. RPM Living claimed third place, with close to 219,000 units managed.
A deeper dive into this year’s top 10 can be found below.
1. Greystar
Greystar remained the front-runner once again, cementing its place as the industry leader. With 980,368 units under management in the past year, the company had a larger portfolio than the next four combined. Greystar was present in 211 markets across the globe and, with the help of its 63-office network increased its reach by 17.5 percent compared to 2023 and by 32.3 percent compared to 2022. Greystar maintained an average occupancy rate of 93 percent across 3,689 communities. Like most companies on our list, Greystar offers third-party management solutions but also oversees their own portfolio. The firm also took the top position on our 2024 Top Multifamily Property Owners as well as the 2024 Top Multifamily Developers rankings.
2. Asset Living
Asset Living secured the second spot on the ranking with a portfolio of 288,665 units managed across 1,655 communities. In 2023, Asset Living acquired three management companies bringing their footprint to 291,322 units. Since then, the third-party property management firm’s reach has shrunk slightly, but overall Asset Living’s portfolio increased by 42.4 percent compared to 2022. The firm also improved the average occupancy rate of its portfolio by 100 basis points compared to 2023.
3. RPM Living
RPM Living landed the third position. The firm’s portfolio of 218,661 units across 920 communities encompasses a wide range of multifamily asset types under management. Although the third-party property management firm’s portfolio decreased 3.3 percent compared to 2023, RPM Living gained some 70,000 units between 2022 and 2024, marking a 47.1 percent increase. With the help of more than 4,600 multifamily property management professionals, RPM Living maintained a 93 percent occupancy throughout their portfolio between 2022 and 2024.
4. Willow Bridge Property Co. (fka Lincoln Property Co.)
Willow Bridge Property Co. finished in fourth place with 220,676 units overseen across 864 communities in 2024. The residential division of Lincoln Property Co. rebranded after its acquisition by Cadillac Fairview/Ontario Teachers’ Pension Plan in 2023. With a presence in 75 markets nationwide and 4,500 team members, the company increased its portfolio occupancy by 40 basis points year-over-year to 93.5 percent in 2024.
5. Cushman & Wakefield
Cushman & Wakefield secured fifth place. The company oversaw 157,485 units across 814 communities in 2024. Between 2022 and 2024, the company decreased its footprint by approximately 20,000 units. The global commercial real estate services firm has a sprawling 60-country range and was also present on our 2025 Top Mortgage Banking and Brokerage Firms as well as the 2025 Top Brokerage Firms rankings.
6. Avenue5 Residential
Avenue5 Residential claimed sixth place with a portfolio of 142,841 units across 721 communities. Present in 22 states and Washington, D.C., the third-party property management company increased its reach by 17.2 percent compared to 2023 and by 41.7 percent compared to 2022. Avenue5 Residential’s team of 3,700 professionals kept the average occupancy rate of the past year at 93.20 percent, down from 2023’s 93.9 percent.
7. Bozzuto
Bozzuto achieved seventh place with a footprint encompassing 121,232 units across 386 communities. Active in 20 states and Washington, D.C., the diversified real estate company increased the number of units managed by 19.5 percent compared to 2023 and by 36.1 percent compared to 2022. Leaning on more than 3,000 employees. Bozzuto maintained a 94-percent occupancy rate across its portfolio between 2022 and 2024. The generational business also carved out a place on our 2024 Top Multifamily Property Owners and 2024 Top Multifamily Developers rankings.
8. WinnResidential
WinnResidential claimed eighth place overseeing 116,337 units across 760 communities. The residential property management firm increased its reach by 6.7 percent compared to 2023 and by 10.1 percent compared to 2022. Operating in 23 states and Washington, D.C., WinnResidential achieved an impressive 95.3 percent portfolio occupancy in 2024, up from 93.8 percent in 2023. With more than half of the company’s portfolio dedicated to affordable housing, WinnResidential is the largest affordable manager on our ranking.
9. BH Management Services
BH Management Services attained ninth place with a management portfolio of 107,000 units across 377 communities. Between 2022 and 2024 the company decreased its footprint by approximately 1,000 units. Covering 37 states, the company increased its portfolio occupancy by 70 basis points year-over-year to 93.6 percent in 2024. With 7 percent of its portfolio in BTR communities, BH Management Services has a noticeable presence in the space,
10. Morgan Properties
Morgan Properties claimed the 10th position with a portfolio encompassing 97,384 units across 352 communities. The company has increased its reach steadily: 4.8 percent over 2023 and by 4.1 percent over 2022. Morgan Properties maintained an kept the past year’s average occupancy rate at 94 percent, unchanged from 2023. The company also secured the fourth place on our 2024 Top Multifamily Property Owners ranking highlighting 60 industry leaders.
Methodology
The Top Multifamily Property Management Companies of 2025 ranking utilized self-reported data for all firms. Positions were calculated using a weighted formula based on a variety of factors, including the total units under management, growth over the years, portfolio occupancy and presence across property sectors. The ranking represents what we feel is a logical balance between firm growth, market share and property diversification. Ranking factors are not limited to the data that appear on this page.
—Agota Felhazi, Senior Associate Editor
